Though they make up less than 20 percent of the U.S. population, baby boomers now own about 41 percent of all real estate assets across the country, according to an analysis reported by Florida Realtors®. They hold roughly $20 trillion in property and account for more than half of the nation’s wealth (51.7 percent).
This remarkable concentration reflects decades of rising home values and generational advantages. While baby boomers own the largest share of homes, younger generations face tougher entry points. Gen X holds about 29.4 percent of real estate and millennials just over 20 percent—despite being a much larger group by population.
Real estate makes up about 22.7 percent of a baby boomer’s total net worth, whereas for millennials it represents about 40.8 percent. This gap suggests that while millennials are more concentrated in property within their portfolios, their overall wealth is much smaller.
The imbalance is driven by several factors: long-term ownership among boomers, dramatic home price appreciation over decades, and limited housing choices for younger buyers facing higher costs and tight supply.
Why This Matters
For younger buyers and first-timers: This shift means competition and scarcity remain significant challenges. When a large share of housing is held by one generation, fewer homes move through the market, reducing available listings and driving up entry barriers.
For homeowners and investors: Baby boomers’ dominant position signals strength in home equity and stability in property wealth. But it also raises questions about future supply—if boomers hold off selling, that will keep the housing tight.
For the broader housing market: This generational concentration affects mobility, housing inventory, and affordability. The “ownership gap” between generations may persist unless new supply enters the market or boomers choose to downsize in larger numbers.
Conclusion
The fact that baby boomers own nearly half of all U.S. real estate underscores the deep generational shifts shaping today’s housing market. Their long-standing ownership and wealth advantages have created a backdrop in which younger generations face steeper entry hurdles. For buyers, sellers, and players in the industry alike, understanding this dynamic is key—and factoring it into strategy is crucial. As housing continues to evolve, the tug-of-war between supply, generations, and affordability will only intensify.
