States Where Retirees Hold the Most Housing Wealth in 2026
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The States Where Retirees Own the Most Housing Wealth
Retirees own the biggest share of housing wealth in Hawaii, according to a July 2026 report. A new study by Everest Mortgages analyzed homeownership rates, equity levels, and property values to identify where retirees have accumulated the greatest housing wealth.
- Hawaii’s baby boomers own the priciest real estate, with those aged 65 and older having a house worth around $471K each on average.
- Older generations own the most real estate in California, where their housing wealth reaches $2.7 trillion.
- Florida has the highest share of retiree homeowners at 40.2%, with average equity of $204K.
The study examined the number of homeowners aged 65 and older in each state, their share of the total homeowner population, and the combined value of properties they own. The average home equity for this age group was calculated to determine which states offer the strongest financial position for retirees through their housing wealth.
Here are the 10 states where retirees own the most housing wealth:
State | Total Houseowners | Houseowners 65+ | Share of 65+ Houseowners | Total value of homes owned by 65+ homeowners | Average House Equity |
Hawaii | 304K | 138K | 45.50% | $143.3B | $471K |
California | 7.7M | 2.7M | 35.40% | $2.7T | $349K |
District of Columbia | 135K | 38K | 28.50% | $35.3B | $262K |
Massachusetts | 1.8M | 602K | 34.10% | $417.0B | $236K |
Washington | 2.0M | 660K | 33.10% | $453.3B | $228K |
New York | 4.3M | 1.5M | 36.10% | $918.7B | $216K |
Colorado | 1.6M | 492K | 30.10% | $335.8B | $205K |
Florida | 6.2M | 2.5M | 40.20% | $1.3T | $204K |
Oregon | 1.1M | 406K | 36.80% | $222.3B | $202K |
Rhode Island | 285K | 98K | 34.40% | $56.5B | $199K |
You can access the complete research findings here.
1. Hawaii
- Total Houseowners: 304K
- Houseowners 65+: 138K
- Share of 65+ Houseowners: 45.50%
- Total value of homes owned by 65+ homeowners: $143.3B
- Average House Equity: $471K
Hawaii’s retirees own the largest share of housing wealth in the country, averaging $471K per homeowner aged 65 and older. They account for 45.5% of the state’s homeowner population, the highest percentage in the top ten, and together hold $143.3 billion in property value. Those who bought homes decades ago have watched their investments multiply as the state’s real estate market climbed steadily over the years.
2. California
California’s older homeowners control $2.7 trillion in housing wealth, the largest total of any state, though their average equity of $349K places them second overall. The state is home to 2.7 million retirees who own property, the biggest group in the ranking. They make up only 35.4% of California’s homeowner population, but their sheer numbers give them outsized financial influence compared with other states.
3. District of Columbia
The nation’s capital ranks third with retiree home equity averaging $262K. Only 38K older homeowners live in D.C., a relatively small group, yet they hold $35.3 billion in combined property value. Their 28.5% share of the city’s homeowner population is the smallest in the top ten, but Washington’s high real estate prices push equity levels well above many larger states.
4. Massachusetts
Massachusetts offers average equity of $236K for homeowners aged 65 and older. The state’s 602K older residents who own property control $417 billion in housing wealth and make up 34.1% of the homeowner base. A strong local real estate market has rewarded those who stayed in their homes for the long haul, delivering substantial gains over time.
5. Washington
Washington’s retirees hold average equity of $228K, with 660K older homeowners controlling $453.3 billion in combined property value. They represent 33.1% of the state’s homeowner population, a proportion that suggests a balanced mix of age groups. The state’s rising property values have helped older owners build a comfortable financial cushion for their retirement years.
A housing expert from Everest Mortgages commented on the study:
“Retirement used to mean selling the family home and moving somewhere smaller. That is not happening the way it used to. Older homeowners are staying put, and that is creating a bottleneck in the housing market. The result is that younger families are competing for fewer homes, and prices keep going up. But that also means retirees are building real wealth that can eventually be passed down or used to support their later years. The challenge is finding ways to make that wealth work for everyone.”
John Everest
About Author
John Everest is a well-regarded mortgage and financial services adviser based in Brighton & Hove, UK. As Director of Everest Mortgage Services Ltd, John uses his industry expertise to empower clients to make sound financial decisions with confidence.
Experience Snapshot:
– Director, Everest Mortgage Services Ltd (company no. 10145887)
– FCA-registered firm (REF: 786425)
– Whole-of-market mortgage adviser with a focus on client-centric service
– Contributor to public finance platforms, offering commentary on mortgage regulation and consumer protection
Over 21 years in the banking industry working with banking operations in all aspects of banking.
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