Johnstown, Pennsylvania has the nation’s oldest owner-occupied housing stock at the metro area level at a median of 62, according to the NAHB’s analysis of the 2016 American Community Survey. Elmira, N.Y. has the second-oldest owner-occupied housing stock at a median of 61, followed by Pittsfield, Mass. at 60. Of the top ten metros with the oldest housing stock, three are in New York, three are in Pennsylvania and two are in Massachusetts.
The median age of owner-occupied homes in the U.S. is 37, a full 25 years below the Johnstown median. New York has the oldest owner-occupied housing stock at the state level with a median age of 57.
The aging housing stock is associated with population decline. The top metro areas with the oldest owner-occupied housing stocks all experienced negative population growth from 2010 to 2016 with the exception of 1.2% growth in Springfield, MA.
In contrast, metro areas with newer owner-occupied housing stock all have enjoyed double-digit population growth from 2010 through 2016, well above the national average of 5.5%. For example, Las Vegas-Henderson-Paradise, NV Metro Area, which is one of the fastest growing areas, had a 10.4% population increase in 2010- 2016, in large part driven by net domestic migration.Read More