If you are familiar with Highlands County, you know it has one of the oldest populations in Florida – as well as the country. So it comes as no surprise that this metro area is in the bottom 20 when it comes to young home buyers.
The report by construction coverage, shows the cities with the most home buyers under the age of 25.
Young buyers have made progress in home ownership in recent years. However, and some geographic locations prove more favorable than others. Researchers at Construction Coverage analyzed the latest data from the Federal Financial Institutions Examination Council to determine the places best suited for that demographic.
Highlands County was not one of them.
Key Takeaways for Sebring, FL
- Below-average young home ownership rate: Last year, home buyers under 25 in the Sebring metro accounted for 2.3% of home purchase loans—the 14th smallest share among all small U.S. metros. Nationally, this cohort accounted for 5.0% of home purchase loans.
- Home loan data for young Sebring buyers: Under-25 home buyers in the Sebring metro took out a median loan amount of $175,000 in 2023. That has a median loan-to-value ratio of 82.9% and median interest rate of 6.750%.
- Key Takeaways for Sebring, FL
Below-average young home ownership rate: Last year, home buyers under 25 in the Sebring metro accounted for 2.3% of home purchase loans—the 14th smallest share among all small U.S. metros. Nationally, this cohort accounted for 5.0% of home purchase loans.
Home loan data for young Sebring buyers: Under-25 home buyers in the Sebring metro took out a median loan amount of $175,000 in 2023. That has a median loan-to-value ratio of 82.9% and median interest rate of 6.750%.
The report indicates that “the red-hot residential real estate market that existed during the COVID-19 pandemic has cooled off, but finding a home remains challenging for many buyers. Elevated home prices and high interest rates have made it especially difficult for young, first-time home buyers to make a purchase.
Some unique, pandemic-related economic factors have contributed to the current state of the market, but some of the largest structural factors driving the current market are generational. Baby boomers and members of the Silent Generation—those born in 1946–1964 and 1925–1945, respectively—are increasingly choosing to age in place as they reach retirement.
Simultaneously, the millennial generation, who were born between 1981 and 1996, are now America’s largest generational cohort and at a peak age for buying a first or second home. Together, these forces mean that more buyers are competing for fewer homes. Zillow recently estimated that the U.S. needs 4.5 million more homes to meet current demand.
