Is It Too Late to Buy Your First Home? Not Even Close

Buying your first home doesn’t look anything like it did 30 years ago.

The average age of a first-time homebuyer in 2024 is now 38. That’s a big jump from 33 in 2020—and a far cry from the early 30s norm we saw for decades before that.

So if you’re still renting in your 30s or 40s in Montgomery Alabama, you might be wondering: Did I miss my window?

Short answer? Not even close.

In fact, you’re right on time—and there are very real reasons more people are waiting to buy in today’s Montgomery AL real estate market.

Why Are Buyers Waiting Longer?

Data from John Burns Research & Consulting confirms what many of us have already felt: major life milestones are happening later across the board.

• The average age of first-time mothers is now 30

• Only 33% of 30-year-olds own a home (compared to 47% in 1984)

• Just 48% of 30-year-olds are married today (down from 78% in 1984)

• A record 72% of renters are now over 30

This trend isn’t random—it’s generational.

Many homebuyers in Montgomery Alabama are prioritizing education, career growth, flexibility, and savings before taking on homeownership. And in an economy where mortgage rates hover above 6.5%, that approach makes a lot of sense.

The Rising Cost of Buying a Home in Montgomery Alabama

Let’s talk numbers.

According to Redfin, you now need an annual income of around $116,000 to afford the median-priced home in the U.S.—which is 82% more than the income needed to rent.

That affordability gap is growing:

• In 2021, it was just 17%

• In 2023, it rose to 54%

• In 2025, it jumped to over 80%

This trend is felt in Montgomery AL real estate, too. Rising home prices, tight inventory, and steady demand mean more first-time buyers are renting longer while they build stronger financial footing.

If you're renting right now in Montgomery Alabama, you’re not falling behind—you’re planning ahead.

Why Buying Later in Life Can Actually Work in Your Favor

Here’s why first-time homebuyers in their late 30s or 40s are often in a great position—especially in markets like Montgomery Alabama homes for sale.

1. You’re Likely in a Stronger Financial Position

By now, you’ve had more time to grow your income, improve your credit, and save for a down payment. You’re also more likely to have a financial buffer for surprise home expenses.

2. You Know What You Really Want

In your 20s, you might’ve chosen a home or apartment based on price or impulse. But by your late 30s or 40s, you’ve lived enough life to know what truly matters—like commute times, neighborhood feel, and school zones.

This clarity helps you make confident, well-informed decisions.

3. The Market Is Catching Up to You

Builders and sellers in Montgomery Alabama are adjusting to meet the needs of today’s buyer—many of whom are purchasing later in life.

That means more inventory designed for smaller households, lower maintenance living, and long-term comfort.

Renting Is Part of the Journey—Not a Detour

Forget the outdated idea that renting in your 30s or 40s means you’re “behind.” In today’s Montgomery AL real estate market, many renters are making the smart move by waiting until the time—and finances—are right.

The good news? When you’re ready, you’ll be a more informed, confident, and prepared buyer.

Final Thoughts from a Montgomery Realtor

Your homebuying journey doesn’t have to follow anyone else’s timeline. If you’re exploring Montgomery Alabama homes for sale in your 30s, 40s, or even 50s—you’re not late. You’re ready.

And when that time comes, I’m here to help. As a trusted Montgomery realtor, I’ll walk you through the process at your pace and help you find a home that fits your life—not someone else’s deadline.

Let’s talk when you’re ready to make your move.