🏡 Nearly Half of U.S. Homes Are Over 40 Years Old — What It Means for Buyers and Owners
- Neil Caron
- Apr 10
- 2 min read
Did you know nearly 48% of all owner-occupied homes in the U.S. were built before 1980? That means almost half the homes on the market today are aging gracefully — or in need of some serious TLC.
According to the American Community Survey, the median age of an owner-occupied home hit 41 years in 2023, up from 31 years in 2005. The nation’s housing stock is aging rapidly, and it’s not just about vintage charm. This trend reflects a larger issue: new construction simply isn’t keeping pace with demand.
Why Aren’t We Building More Homes?
Despite high demand, new home construction is facing serious challenges:
Rising material and labor costs
Supply chain issues
Zoning limitations and land shortages
Elevated interest rates
That’s why more homeowners — and buyers — are turning their eyes toward older homes and choosing to renovate rather than relocate.
🐷 RSL Piggy Points – What This Means for You:
🐷 48% of homes are 40+ years old — and many need structural or cosmetic upgrades.
🐷 Remodeling is booming, and may outpace new construction in years to come.
🐷 Renovation loans allow you to bundle purchase + upgrades into one smart mortgage.
🐷 Homeowners with low-rate mortgages are opting to update instead of moving.
🔨 RSL Quick Guide: Renovation Lending 101
Thinking of buying a home that needs a little love? Or want to modernize your current home? Renovation loans might be your key.
Here are a few options:
Loan Type | Best For | Key Benefits |
FHA 203(k) | Buyers with lower down payments | Includes renovation costs in your FHA loan |
Fannie Mae HomeStyle® | Conventional buyers with good credit | Flexibility to upgrade kitchens, baths, or even add rooms |
Freddie Mac CHOICERenovation® | Buyers & current owners | Can be used for disaster prep or aging-in-place updates |
Cash-Out Refinance | Current homeowners with equity | Pull cash to fund improvements or repairs |
Need help figuring out which renovation loan is right for you? That’s what we’re here for. Visit ReadySetLoan to explore your options with confidence.
🏁 RSL Perspective
At ReadySetLoan, we believe the right education unlocks the right doors. As the average home gets older, renovation lending is becoming one of the smartest ways to invest in the place you call home.
Whether you're buying an older gem or breathing new life into your current space, ReadySetLoan is your guide at the starting line. We’ll help you break down loan options, costs, timelines — and cross that finish line with confidence.
🏡 Learn more at ReadySetLoan and turn “fixer-upper” into “dream home.”
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