The market with the greatest real estate wealth held by members of the baby boomer generation lies along the western coastline of Florida.
Those aged 65 and older claim $97 billion in owned real estate value across North Port-Bradenton, in Sarasota and Manatee counties, according to a report from Realtor.com.
The real estate listings platform analyzed each market for the share of homeowners who are at least 65 years old, total home values and the estimated value held by this age group. More than half of the homeowners in North Port-Bradentown are Baby Boomers, and the median price of homes there is $495,000.
Metros in the Sunshine State make up half of the top 10 cities where retirees hold the most wealth. The Wildwoods-The Villages in Florida have the most residents over 65 years old, with 78 percent of homeowners in that cohort.
Boomers, those born between 1946 and 1964, hold about $19.5 trillion or 41 percent of the real estate assets in the country, according to Realtor.com, continuing the unlikely-to-change trend of Boomers holding the most real estate among the generations.
Another recent report from the National Association of Realtors found that younger baby boomers, those between 60 and 69 years old, account for 26 percent of all homebuyers and 31 percent of sellers in the U.S. That makes them the most active buyers and sellers in the country.
Following North Port-Bradenton, Naples-Marco Island, Florida, ranks second on Realtor.com’s list. Boomers make up 57 percent of homeowners in this southwestern coastal market, with the total home equity coming in at $70 billion. The median home price there is $749,000.
California has two markets that made it onto the list. In Santa Clara-Petaluma, baby boomers make up about 47 percent of homeowners and hold $54 billion of the real estate wealth in that market. In San Luis Obispo, they hold $31 billion of real estate and comprise just under half of homeowners.
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