Study Underscores Need for Renovation and Repair Work

A new study from Construction Coverage underscores why there’s an increased demand for renovation and repair work: The median age of a home in the U.S. is 43 years and the cost of buying a home has risen 23% since 2020. That means the aging housing stock has left current homeowners and new buyers to contend with properties that often require costly repairs and renovations. And the states with the oldest housing stock: New York (65 years old), Rhode Island (60 years old), and Massachusetts (59 years old).

Key Findings

Homes built before 1940 are nearly 30 times more likely to be in inadequate condition and cost nearly 10 times more in routine maintenance than homes built after 2022.

The Northeast is the epicenter of aging properties while the Sun Belt states have the youngest housing stock with a median age of 30 years or younger.

There’s a new construction gap. More than a quarter of homes in older metros like Buffalo, N.Y. and Boston were built before 1940, while booming cities like Austin, Texas, and Raleigh, N.C., have much newer development and a median home ages of 19 and 22 years, respectively.

Housing Age and Quality

Older homes require significantly more upkeep to maintain adequate living conditions. Considering homes built before 1940, 8.7% are considered to be in inadequate condition, as opposed to just 0.3% of homes built since 2022. Meanwhile, the average annual maintenance costs for homes built before 1940 are $1,615, compared with just $164 for homes built after 2022—nearly 10 times higher. And homes built decades ago often require significant repairs—from structural updates to electrical or plumbing replacements.

States With the Oldest Housing Stock

                                Avg. age

1. New York            65
2. Rhode Island       60
3. Massachusetts    59
4. Pennsylvania       58
5. Connecticut         57
6. Illinois                  53
7. Ohio                     53
8. New Jersey         53
9. Michigan              52
10. Iowa                     51
11. Nebraska             48
12. Wisconsin            48
13. Kansas                 48
14. Vermont               47
15. California             47

Large Metros With The Oldest Housing Stock

                                                                                       Avg. age

1. Buffalo-Cheektowaga, N.Y.                                          66
2. Pittsburgh                                                                      64
3. New York-Newark-Jersey City, N.Y.-N.J.                     63
4. Cleveland                                                                       61
5. Providence-Warwick, R.I.                                              60
6. Boston-Cambridge-Newton, Mass.                               59
7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.  58
8. Rochester, N.Y.                                                              57
9. Hartford-West Hartford-East Hartford, Conn.               56
10. Milwaukee-Waukesha, Wis.                                           56
11. Detroit-Warren-Dearborn, Mich.                                    56
12. San Francisco-Oakland-Fremont, Calif.                         56
13. Los Angeles-Long Beach-Anaheim, Calif.                     55
14. Chicago-Naperville-Elgin, Ill.                                         52
15. St. Louis, Mo.                                                                 50     

Find out which states and metro areas have the youngest housing stock.