Last year, approximately 43,000 homes were built in age-restricted communities, according to the National Association of Home Builders. Roughly 32,000 of these were single-family units, with the remaining 11,000 being multifamily units.
Overall, the number of homes built in age-restricted communities was the lowest since 2015, when approximately 36,000 were built. The number of age-restricted multifamily units specifically hit the lowest number since 2009.
In 2024, the median sales price of age-restricted single-family homes was $525,000, which was about 25% higher than the $421,000 median for non-age-restricted homes. The price for age-restricted homes rose by 5%, with an average of 2,200 square feet (versus 2,100 square feet for non-age-restricted homes). That equals $155.90 per square foot (compared to $154.30).
Additionally, the median lot value for age-restricted single-family homes in 2024 was $62,000, with a median lot size of 0.16 acres.
The share of these homes with other characteristics was as follows:
- Attached (townhomes): 19%
- With only one story: 68%
- With a full or partial basement: 12%
- With a patio: 64%
- With a porch: 70%
- With a deck: 15%
- Purchased with cash: 30%
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