The well-documented aging of the baby boomer generation may be mirrored by the aging of American’s housing stock. The US Department of Housing and Urban Development’s American Housing Survey finds that the median age of an owner-occupied home in the US was 35 years old in 2011, up from a median home age of 23 in 1985.
According to the CRS, more than 40% of the owner-occupied homes in the US were built before 1969. Homes built from 2000 through 2009 account for 15% of the owner-occupied housing stock.
Aging homes could prove to be a boon for home remodeling businesses, the study finds. Older homes tend to be less energy-efficient than new homes and generally require more repairs.
