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Rental Property Investors Younger Than You May Think
According to a National Association of Realtors (NAR) survey, 28 percent of real estate buyers seeking homes as investment properties are under the age of 35. The most — 31 percent — are between the ages of 35 and 44. Only about 27 percent are age 55 and older.
The median age for all buyers of residential investment properties is just 42 years old, according to NAR’s “2014 Investment and Vacation Home Buyers Survey”. This is the lowest age in the past six years of the survey.
In comparison, 35 percent of homebuyers seeking a primary residence are under age 35, and the median age is 40 for buyers seeking a home to live in.
Investment property buyers typically have higher household incomes than buyers of primary residences — not an unexpected finding. According to the survey, 47 percent of buyers of investment properties have household incomes of more than $100,000. In comparison, only 35 percent of homebuyers purchasing a primary home had a household income in that range.
NAR said 36 percent of real estate investors had household incomes between $75,000-$100,000 while 13 percent had income of $45,000-$75,000. Just 4 percent had a household income of less than $45,000.
The majority of buyers of all types of homes reported having a two-earner household, whether the household was buying a primary home, a vacation home or an investment property.
Actual sales of residential properties used for investment purposes declined in 2013 to 20 percent from 24 percent in 2012, according to the survey, which looked at 2013 homes sales.
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