A majority of Americans aged 37 and older own their homes, according to an analysis by the Public Policy Institute of California, but homeownership rates in the nation’s largest cities lag behind this national trend. Many adults in major urban areas continue renting well into their 40s, reflecting persistent affordability challenges and shifting demographic patterns.

California stands out as one of the least affordable states for younger homebuyers. The institute’s research found that more than half of California residents do not achieve homeownership until after age 47. In Los Angeles, homeownership rates among householders aged 45 to 54 hover at around 50 percent, markedly lower than the nearly 70 percent ownership rate seen nationally in the same age group. This figure represents a decline compared to data from 14 years ago, when 58 percent of Los Angeles households in that age range were homeowners.

The difficulties younger adults face in purchasing homes today exceed those experienced by earlier generations, particularly in larger metropolitan areas. The Pew Research Center classifies 60 percent of U.S. metro areas as unaffordable for households under 40, underscoring the widespread nature of the affordability crisis.

While housing costs are the most visible barrier, experts also highlight other contributing factors. Yanling Mayer, a research economist at the Texas Real Estate Research Center, notes in a recent report that changes in life course events—including delays in marriage and starting families—along with burdens such as student loan debt, also play important roles in postponing home purchases.

Despite these obstacles, homeownership is still prevalent among certain age groups nationally. Census data indicates that 61 percent of householders between 35 and 44 years old own their homes, demonstrating that many do attain ownership in early middle age.

Not all large cities report below-average homeownership rates. Some urban areas such as Ogden, Utah; Grand Rapids, Michigan; Des Moines, Iowa; and Minneapolis, Minnesota, have majority homeownership for residents older than 25. In these cities, homeownership rates for those over 45 can reach as high as 80 percent, suggesting local market dynamics and economic factors influence ownership trends differently across regions.