Key Details:
- Realtor.com reports that baby boomers now hold nearly $19 trillion in real estate wealth, accounting for almost half of the nation’s housing equity.
- In North Port-Bradenton alone, retirees aged 65 and up own $97 billion in property value, amounting to more than half of the metro’s total.
- Nationwide, home equity reached $34.5 trillion at the start of 2025, with boomers holding the largest generational share.
Baby boomers aren’t just sitting on equity. They’re sitting on nearly half of the entire U.S. housing market’s wealth.
According to new Realtor.com research, boomers (those born between 1946 and 1964) now own between $18 and $19 trillion worth of real estate across the U.S. That staggering number reflects decades of rising home values, long-term ownership, and a growing generational divide in the housing market.
And in several key metros, retirees are holding a significant portion of the real estate pie.
Byron Lazine broke down the data in Tuesday’s Hot Sheet. Read on to see where that wealth is concentrated, and what agents need to know as more boomers age into the next phase of life.
Florida Leads the Pack
If you’re working in Florida, especially along the Gulf Coast, chances are your farm area includes a significant number of equity-rich homeowners over the age of 65.
According to Realtor.com, five of the top 10 U.S. metros where boomers hold the most housing wealth are in Florida. And the numbers are staggering.
In North Port-Bradenton, retirees own about $97 billion in real estate, which is more than half of the metro’s total housing value. Boomers make up 56% of all homeowners there, and the median home price sits at $495,000. While the area isn’t strictly a beach town, its proximity to the coast—including access to spots like Venice Beach—makes it a top destination for retirees looking for a mix of affordability and lifestyle.
Naples-Marco Island takes things up a notch. Known as Florida’s Paradise Coast, this metro attracts well-heeled boomers with its luxury resorts, more than 90 golf courses, and easy access to white-sand beaches. Median home prices hover around $749,000, and homeowners 65 and older hold $70 billion of the area’s $122 billion in property value.
And then there’s The Villages, where 78% of homeowners are 65 and up—the highest share in the country. It’s grown from a small trailer park in the 1970s into a sprawling 57-square-mile community designed entirely around the retiree lifestyle. Despite its reputation as a retirement haven, the median home price is a relatively modest $369,900, making it more accessible than other Florida hotspots.
Florida’s stronghold on retiree housing wealth is no accident. The state offers warm weather, no income tax, lower cost of living compared to many coastal states, and purpose-built communities that cater to aging homeowners looking to stay active and social.
High-Dollar Retirement Markets Outside Florida
Florida may dominate the list, but it’s not the only place where baby boomers are sitting on billions in housing wealth. Several high-cost metros in California, Massachusetts, and Arizona also rank near the top, thanks to decades of appreciation and limited inventory.
In Santa Rosa-Petaluma, California, located about 40 miles north of San Francisco, retirees own $54 billion of the area’s $116 billion in housing value. The median home price is a steep $995,000, but the appeal is undeniable. It’s wine country with access to hiking, scenic views, and a slower pace of life.
On the East Coast, Barnstable Town, Massachusetts (Cape Cod) continues to draw older homeowners with its charming villages and coastal views. Boomers own $34 billion of the metro’s $64 billion in housing wealth, and more than half of homeowners are over 65. The median list price, however, is nearly $900,000, and new listings are down 6.5% from last year. Limited new construction and long-standing family ownership keep supply tight, especially for buyers seeking a second home or vacation property.
Then there’s Prescott-Prescott Valley, Arizona, where boomers hold $27 billion of $47 billion in local real estate value. Nearly 58% of homeowners are over 65, and the area’s median home price is $669,000. What sets this market apart is the climate (warm but not humid, with no threat of hurricanes) and a more affordable cost of living compared to California or Florida.
In each of these metros, housing wealth isn’t just about home prices. It’s also about time. These are markets where older homeowners bought in early, stayed put, and benefited from years of appreciation.
Why This Matters Now
According to Flow of Funds data analyzed by Realtor.com, the total value of owner-occupied real estate nationwide is now $47.9 trillion, with equity reaching $34.5 trillion at the start of 2025. Boomers control the largest generational slice of that equity.
And they’re not planning to give it up anytime soon.
A Charles Schwab survey found that nearly half of boomers said they want to “enjoy my money for myself while I’m still alive.” Which is totally fair. UBS projects that this wealth, including real estate, will transfer to younger generations over the next 20 to 25 years. But that timeline may be getting longer.
Takeaways for Agents
- Know where the wealth is. Targeting retiree-heavy markets like North Port, Naples, and The Villages can open doors to high-equity listings—if and when sellers are ready.
- Prepare for longer timelines. Many boomers aren’t rushing to sell. Focus on building trust and offering long-term planning tools, not just listing pitches.
- Understand the emotional side. In markets like Cape Cod, properties often stay in the family. Be ready for conversations about legacy, not just comps.
With nearly 12,000 people turning 65 every day through the end of 2025, the question isn’t just when boomers will sell. It’s whether they’ll sell at all. And that makes your role as a local market expert and trusted advisor more important than ever.
