Baby boomers are sitting on a staggering amount of housing wealth—across the U.S., they own an estimated $18 trillion to $19 trillion worth of real estate.
Boomers now hold nearly half of the nation’s real estate wealth. This is a direct reflection of decades of homeownership, rising property values, and the generational shift that is now reshaping the housing market.
But, where exactly is that wealth concentrated?
A new Realtor.com® analysis reveals that while boomers—those born between 1946 and 1964—have planted roots across the country, a handful of metro areas stand out as hotbeds for retiree real estate wealth. Unsurprisingly, Florida dominates the list, claiming five of the top 10 spots.
The Sunshine State offers warm weather, no state income tax, and a lifestyle that’s long appealed to retirees—but other destinations, from coastal California to scenic New England, are also popular.
The ranking combines three factors: the share of homeowners aged 65 and up, the total value of homes in each market, and the estimated value held by older residents. The result is a snapshot of where retirees aren’t just living—but where they’re holding some of the most valuable pieces of the American housing pie.
The wealthiest retiree markets in America
North Port-Bradenton, FL
Real estate value held by homeowners aged 65 and up: $97 billion
Share of homeowners aged 65 and up: 56%
Median home price: $495,000
In this metro, located in Sarasota and Manatee counties on the coast, more than half of homeowners are boomers. North Port isn’t strictly a beach town; the metro includes miles of coastline and many other popular destinations such as Venice Beach. This means retirees have options: either direct access to the beach, or proximate access without having to pay some of the steeper prices that come with the territory. They also own an estimated $97 billion of the roughly $174 billion real estate value in this metro.
Naples-Marco Island, FL
Real estate value held by homeowners aged 65 and up: $70 billion
Share of homeowners aged 65 and up: 57%
Median home price: $749,000
Also located on Florida’s west coast, this area is known as the Sunshine State’s Paradise Coast. It offers white-sand beaches, luxury resorts, and an abundance of outdoor activities, with more than 90 golf courses.
With more homes within proximity to the water, the area has a higher price range, with the median list price of $749,000. The 65 and older age group owns about $70 billion out of the $122 billion real estate value in Naples-Marco Island.
Santa Rosa-Petaluma, CA
Real estate value held by homeowners aged 65 and up: $54 billion
Share of homeowners aged 65 and up: 47%
Median home price: $995,000
Located roughly 40 miles north of San Francisco, this area is in Sonoma County, famed for its wine country and access to nature for active retirees.
“Santa Rosa as a whole is geared toward retirees,” Fermin Escutia, real estate agent at W Real Estate, tells Realtor.com. “Petaluma is the most affordable town north of San Francisco. The sizes of the homes are going to be smaller, but the draw is the small community feel with plenty of events.”
The scenic foggy metro comes at a cost, with a median list price of $995,000. Of the homeowners here, 47% are those aged 65 and up, and they hold roughly $54 billion of the $116 billion real estate value.
Barnstable Town, MA (Cape Cod)
Real estate value held by homeowners aged 65 and up: $34 billion
Share of homeowners aged 65 and up: 53%
Median home price: $899,250
The Cape Cod region has been a favorite destination among retirees for years, and many are drawn here by the coastal charm despite the chilly New England weather, as well as a slower pace outside the Boston area.
“The summers are beautiful here, and Barnstable has little hidden gems and local villages and charm you can’t discover in just one weekend,” Deborah Garner, a real estate agent with Kinlin Grover Compass, tells Realtor.com.
But soaking up this classic charm full time comes at a cost, with a median list price of $899,250. New listings are down 6.5% from a year ago, and new construction in the Northeast is less active than in some Southern and Midwestern states, resulting in fewer options available. Homeowners aged 65 and up accounted for $34 billion out of the $64 billion real estate value.
“There is a generational effect where property gets passed down and families find it hard to part with homes,” says Garner.
Every morning, the NY POSTcast offers a deep dive into the headlines with the Post’s signature mix of politics, business, pop culture, true crime and everything in between. Subscribe here!
Prescott-Prescott Valley, AZ
Real estate value held by homeowners aged 65 and up: $27 billion
Share of homeowners aged 65 and up: 58%
Median home price: $669,000
In Arizona‘s Prescott-Prescott Valley market, those aged 65 and up own 58% of the homes. The Prescott area is known for its older demographic, with a median age of 60.3, while the Prescott Valley area tends to draw a younger crowd, according to U.S. Census Bureau data.
Arizona, as a state, is a popular destination for retirees, and Prescott-Prescott Valley offers a warm climate without the humidity found in Florida. Insurance costs are lower, too, due to the lack of hurricane threats. The median list price for the area comes in at $669,000, with those aged 65 and up owning $27 billion of the $47 billion real estate value.
