Young Californians dominate home purchases in four major cities

Data from a WalletHub ranking reveals that San Diego has the highest proportion of mortgage holders under 35 on the West Coast at 84 %, with San Jose, Los Angeles and San Francisco also showing strong numbers of young buyers at 82 %, 78 % and 73 % respectively. Seattle and Portland exceed 85 % of homeowners under 35, while Charlotte, North Carolina leads the nation at 90 %. A Public Policy Institute of California analysis finds that half of young adults in the state wait until age 47 to purchase a home, far later than the national average of 37.

This trend is linked to California’s homeownership rate of 56 %, the lowest among the states except New York. The delayed entry into homeownership hampers equity building before retirement and underscores the broader affordability crisis in the Golden State.