According to a new study released today by Chandan Economics, analyzing data from the US Census Bureau’s American Community Survey, Texas, California, and Florida lead the nation with the highest numbers of homeowners under the age of 35. However, the states boasting the largest proportions of young homeowners, relative to their total housing market, offer more intriguing insights into first-time homebuyer trends. Topping this list are Utah, Alaska, and Iowa, where young adults under 35 represent over 10% of all homeowner households, indicating lower barriers to entry for younger buyers.
Interestingly, states with thriving job markets and higher average wages—such as Washington D.C., California, and New York—rank lowest for under-35 homeowner density. Despite higher earning opportunities, young professionals in these regions often opt for renting over homeownership due to prohibitive costs. These findings underscore the ongoing balance younger households must strike between career opportunities and achievable homeownership, particularly in high-cost, economically vibrant regions (See charts below).