The median age of New York City-area homeowners has risen to a new high as the housing affordability crisis continues to keep young buyers out of the market. The National Association of Realtors reported that as of 2024, a homeowner in the area covering NYC, Newark and Jersey City was 58.8 years old, just a few years shy of Social Security eligibility. This is a 4.4-year increase from the median age in 2010. The homeownership rate has barely changed over this period, slipping from 52.7% in 2010 to 51.3% in 2024. The profile of the typical homeowner has also changed as baby boomers are holding onto their property longer, delaying ownership until later in life. The cost of homeownership has also soared, with the average family needing to earn $110,000 a year to own a typical home, about 29% higher than what the median household actually makes.