U.S. Homes Are Getting Older as New Construction Lags Behind
The age of owner-occupied homes in the U.S. has risen steadily over the past decade. In 2024, nearly half of these properties were built before 1980, with a growing share now at least 45 years old. New data also shows a decline in the proportion of recently constructed homes compared to a decade ago.
The median age of owner-occupied homes reached 42 years in 2024. This reflects a broader trend: the share of homes built before 1980 climbed from 39% in 2014 to 47% in 2024. Around a third of these properties were constructed before 1970.
Newer homes now make up a smaller portion of the housing stock. In 2024, only 13% of owner-occupied homes were built within the last 14 years, down from 18% in 2014. Another 9% were added between 2010 and 2019, while 15% date back to 2000–2009. Between 2020 and 2024, new construction contributed roughly 3.6 million owner-occupied homes. Despite this growth, these additions accounted for just 4% of the total stock in 2024. Industry analysts point to ongoing challenges, including high material costs, labour shortages, and elevated interest rates, which continue to slow new development. No updated regional data on the age distribution of owner-occupied homes has been released since 2005.
The shift toward an older housing stock suggests long-term pressures on the market. With fewer newer homes entering the supply, owners may face higher maintenance costs and reduced availability of modern properties. The trend also highlights the impact of construction hurdles on housing affordability and choice.
