Outline:
In the United States Census Bureau’shousing vacancy survey, conducted on December 11, 2025, showed a minor decrease in third-quarter homeownership rates across all regions and age groups, dropping from 65.6% to 65.3%. Although there are expectations thatthe real estate market may increase in 2026, the lack of progress in 2025 did not provide much assurance for homebuyers or sellers. Homeownership among older adults has also seen a small decrease over time. However, how many seniors actually own their homes? According to theJoint Center for Housing Studies at Harvard University(JCHSHU), individuals aged 65 and older had a 79.1% rate of home ownership in 2022, the latest year with available data; slightly more than 40% of homeowners in this group had a mortgage. In 2021, the preceding year, 79.5% of retirees owned their homes.
Members of the baby boomer generation are more likely to possess specific types of assets., similar to a home, because their generation had the opportunity to benefit from a thriving economy and more affordable housing prices when they were beginning their lives. TheThe Silent Generation lags behind millennials in home equityin 2020, but neither group possesses anywhere near the home equity that baby boomers have. According to theFederal Reserve, baby boomers possess over 40% of the country’s residential wealth as of the first quarter of 2025. However, even though approximately 90% of Americans from every generation state that owning a home is significant to them, according to aClever Offerssurvey, most also feel that current home prices are excessively high, making this aspect of the American dream out of reach for many.
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Advantages and disadvantages of owning a house during retirement
One of the major benefits of being a retired homeowner is the sense of security that a home offers. ACleverA survey revealed that 72% of retirees feel they couldn’t afford to purchase a home now, which makes the home they currently own one they wish to keep. Andrelocating during retirement may bring about significant regretsThe JCHSHU states that from 2016 to 2021, without considering 2020 data, only 5% of individuals aged 65 and above indicated they moved, highlighting the significance of housing stability for this group. Not having a mortgage and accumulating equity are further advantages of home ownership, both contributing to greater financial ease and flexibility for retirees.
Although owning a home during retirement offers numerous benefits, there are some disadvantages to keep in mind. Remaining in a large, older house often requires more time and financial resources for upkeep and fixes, along with the possibility of rising utility costs and property taxes over time. Retirees who wish to stay in their current home may need to install features like ramps, handrails, and walk-in bathtubs, which can be costly. These changes might also affect the home’s value, depending on how easily they can be removed and if future buyers require them. Therefore, when it’s time to sell, the property could be worth less than anticipated.
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