1. Raleigh-Cary, NC

• Percent of local baby boomers who purchased a home in 2023: 2.76%
• Total number of baby boomer mortgages originated in 2023: 8,215
• Median interest rate on baby boomer mortgages: 6.75%
• Median property value of baby boomer purchases: $445,000
• Median income of new baby boomer homebuyers: $112,000

2. Nashville-Davidson-Murfreesboro-Franklin, TN

• Percent of local baby boomers who purchased a home in 2023: 2.66%
• Total number of baby boomer mortgages originated in 2023: 11,410
• Median interest rate on baby boomer mortgages: 7.00%
• Median property value of baby boomer purchases: $465,000
• Median income of new baby boomer homebuyers: $105,000

3. Phoenix-Mesa-Chandler, AZ

• Percent of local baby boomers who purchased a home in 2023: 2.64%
• Total number of baby boomer mortgages originated in 2023: 27,745
• Median interest rate on baby boomer mortgages: 6.75%
• Median property value of baby boomer purchases: $475,000
• Median income of new baby boomer homebuyers: $107,000

4. Indianapolis-Carmel-Anderson, IN

• Percent of local baby boomers who purchased a home in 2023: 2.63%
• Total number of baby boomer mortgages originated in 2023: 11,891
• Median interest rate on baby boomer mortgages: 6.99%
• Median property value of baby boomer purchases: $305,000
• Median income of new baby boomer homebuyers: $87,000

5. Charlotte-Concord-Gastonia, NC-SC

• Percent of local baby boomers who purchased a home in 2023: 2.60%
• Total number of baby boomer mortgages originated in 2023: 15,096
• Median interest rate on baby boomer mortgages: 6.95%
• Median property value of baby boomer purchases: $405,000
• Median income of new baby boomer homebuyers: $98,000

6. Jacksonville, FL

• Percent of local baby boomers who purchased a home in 2023: 2.60%
• Total number of baby boomer mortgages originated in 2023: 10,186
• Median interest rate on baby boomer mortgages: 6.75%
• Median property value of baby boomer purchases: $405,000
• Median income of new baby boomer homebuyers: $102,000

7. Tampa-St. Petersburg-Clearwater, FL

• Percent of local baby boomers who purchased a home in 2023: 2.43%
• Total number of baby boomer mortgages originated in 2023: 19,878
• Median interest rate on baby boomer mortgages: 6.99%
• Median property value of baby boomer purchases: $395,000
• Median income of new baby boomer homebuyers: $99,000

8. Orlando-Kissimmee-Sanford, FL

• Percent of local baby boomers who purchased a home in 2023: 2.39%
• Total number of baby boomer mortgages originated in 2023: 13,892
• Median interest rate on baby boomer mortgages: 6.89%
• Median property value of baby boomer purchases: $415,000
• Median income of new baby boomer homebuyers: $103,000

9. Columbus, OH

• Percent of local baby boomers who purchased a home in 2023: 2.38%
• Total number of baby boomer mortgages originated in 2023: 10,557
• Median interest rate on baby boomer mortgages: 7.25%
• Median property value of baby boomer purchases: $345,000
• Median income of new baby boomer homebuyers: $95,000

10. Virginia Beach-Norfolk-Newport News, VA-NC

• Percent of local baby boomers who purchased a home in 2023: 2.37%
• Total number of baby boomer mortgages originated in 2023: 9,543
• Median interest rate on baby boomer mortgages: 6.99%
• Median property value of baby boomer purchases: $365,000
• Median income of new baby boomer homebuyers: $100,000

Data and Methodology

To find where baby boomers are buying homes at the fastest rates, SmartAsset reviewed Home Mortgage Disclosure Act data for 2023. Specifically, originated mortgages for people aged 55 to 74 were considered, relative to the size of the local population aged 55 to 74 according to 2022 Census Bureau data. The median income of new boomer homeowners, as well as subject property value and interest rate, were also considered.