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Oklahoma’s baby boomers are playing a quiet but powerful role in shaping the state’s housing landscape. As the share of residents aged 65 and older climbs, so does their influence on where and how people live. Many of these longtime homeowners have seen their properties grow dramatically in value—part of a national surge in housing prices that compressed a decade’s worth of growth into just a few years.

In Oklahoma, where homeownership is deeply rooted and prices remain more affordable than in many states, boomers are sitting on significant equity. Their decisions—to stay put, downsize, or invest—are helping to define what housing looks like across the state.

Boomers Become Leading Home Buyers (2020-2024)

In the early 2020s, baby boomers emerged as the leading generation of home buyers both nationally and in Oklahoma. According to the National Association of Realtors (NAR), boomers accounted for 42% of all home buyers in the U.S. by 2024. This was a notable jump, overtaking millennials, who fell to 29% of buyers (down from 38% a year prior).

Several factors explain why boomers outpaced younger buyers. One significant reason is financial strength: many boomers could use accumulated equity or savings to buy homes outright. About half of older baby boomers (ages 70-78) and two in five younger boomers (60-69) purchased their homes entirely with cash. This ability made their offers very competitive in a hot housing market. By contrast, most millennials rely on mortgages, making them more vulnerable to rising interest rates.

Oklahoma’s Appeal to Baby Boomer Buyers

Oklahoma’s affordability made it especially attractive to home-buying boomers. Realtor accounts noted an influx of retirees from other states coming to Oklahoma seeking cheaper housing. Vanessa Johnson, president of the Oklahoma City Metro Association of Realtors, observed seniors relocating from high-cost states like Florida and California, drawn by how far their money could go. She explained that buyers from places where they expected to pay $350,000-$400,000 for a home could find similar properties for around $250,000 in Oklahoma.

A 2023 migration study found that Oklahoma was among the top ten states for net inbound moves, thanks largely to affordability. For example, of 6,300 people who moved from Colorado to Oklahoma in 2023, 38% were baby boomers, reinforcing Oklahoma’s appeal as a retirement destination. Notably, 79% of those Colorado transplants bought homes soon after moving, indicating that many out-of-state boomers are purchasing rather than renting.

Local housing statistics reflect boomers’ growing market presence. By 2025, baby boomers also made up the largest share of home sellers (around 53% nationally), meaning they were on both sides of many transactions – selling longtime family homes and then buying smaller ones or homes in new locations. Many Oklahoma boomers who sold homes took advantage of high post-2020 prices and then downsized or relocated within the state.

Where Are Baby Boomers Moving?

Small Towns and Suburbs Lead the Way

A key question is where Oklahoma’s baby boomers choose to live when they move. The trends from 2020-2024 show that suburban and small-town living are much more popular among this generation than downtown urban living. Nationally, NAR data reveal that younger baby boomers (aged 60-69) were the most likely of any generation to buy homes in small towns, while older boomers (70-78) were most likely to buy in suburban subdivisions.

Small Town Appeal

Small towns offer a slower pace of life, tight-knit community, and lower housing costs – all attractive to retirees. In Oklahoma, towns like Grove, Bartlesville, or Ada have been noted as favorable retirement spots. Grove, located by Grand Lake in northeastern Oklahoma, has become home to an increasing number of retirees drawn by lake recreation and reasonable cost of living. Delaware County (where Grove is) has one of the fastest-growing senior populations in the state.

Suburban Preference

Suburbs remain popular especially with the younger boomers who may still want easy access to city amenities. Suburbs of Oklahoma City and Tulsa – like Edmond, Norman, Broken Arrow, or Jenks – have seen growth in their senior populations. These areas provide healthcare facilities, shopping, and entertainment, but with more space and a calmer environment than downtown.

Oklahoma City itself is considered one of the top places to retire in the country, partly because its suburbs combine a low cost of living with good hospitals and volunteer opportunities. For boomers who want an active retirement lifestyle, living near a major city but in a suburban neighborhood can be ideal.

Rural Living Less Common

Rural living – truly out-in-the-country or farm living – is less common as a choice for new moves. Some boomers who spent careers in the city dream of owning acreage or a farmhouse for hobbies like gardening or simply peace and quiet. Oklahoma’s rural areas (like the southeast Ouachita mountains region or western plains) can appeal to those seeking solitude and low costs.

However, rural moves come with trade-offs: longer drives to doctors and stores, and potentially limited services. Many older adults prefer to stay within reach of medical care and airports, so completely rural moves are less frequent. More often, if a boomer already lives in a rural part of Oklahoma, they might age in place there rather than relocate to a different rural spot.

Housing Choices: Downsizing, Aging in Place, or Relocating?

Baby boomers in Oklahoma are taking various approaches to housing as they age, generally falling into three patterns: downsizing to smaller homes, aging in place in their current homes, or relocating to new areas. All three trends are happening simultaneously as individual decisions differ.

Aging in Place: The Dominant Trend

A significant majority of boomer homeowners are choosing to stay where they are long-term. In a 2024 Redfin survey of older Americans, 78% of homeowners over 60 said they plan to remain in their current home as they age. In other words, roughly four out of five boomers aren’t looking to move at all.

They have strong incentives to stay: familiarity with the community, no need to upheave their lives, and financial reasons (like a paid-off mortgage or locked-in low property taxes). In Oklahoma, staying put can be quite comfortable – housing costs are relatively low, and modifications can be made to existing homes to support aging.

This choice to age in place reduces the supply of homes for sale. With many boomers holding onto their houses, fewer listings come up, contributing to a tighter housing inventory. Some analysts have even blamed baby boomers for prolonging the housing shortage by not selling their family homes.

Downsizing to Smaller Homes

While most stay put, some Oklahoma boomers are downsizing – selling larger “empty nest” houses and moving to homes with less space and upkeep. The typical reasons are clear: once children are grown, a big house with multiple bedrooms may feel unnecessary or burdensome. Heating, cleaning, and maintaining a large property can be costly and tiring.

Boomers looking to downsize often seek homes on one level (to avoid stairs), with a smaller yard or a maintenance-free setup like a condo or patio home. The motivation for downsizing is often simply the “desire for a smaller home,” which NAR found to be a primary reason boomers purchase another house.

By selling a larger home, they can usually buy a smaller one and pocket the difference. During 2020-2024, high home prices made downsizing especially attractive. However, downsizing boomers sometimes face a challenge: the lack of suitable smaller homes on the market. A statewide assessment showed Oklahoma has a shortage of small, affordable houses, meaning downsizers often compete for a limited number of condos, cottages, or senior-friendly homes.

Relocating for Lifestyle or Family

The third trend is boomers relocating – moving to a new city, state, or region, often upon retiring or for family reasons. Common motivations include wanting to be closer to children or grandchildren, seeking a better climate, or moving to a place with lower cost of living.

Some Oklahoma retirees have moved to states like Arizona or Florida seeking warmer winters. Conversely, Oklahoma attracted retirees from other states during 2020-24 for its low costs. Once here, they typically bought homes in communities where they have support systems.

A lot of relocation is tied to family: if adult children of an Oklahoma boomer moved to Dallas or Kansas City, the boomer parents might relocate there or halfway in between. Intra-state relocations are also common – for instance, a farmer in western Oklahoma might retire and move to the Oklahoma City area to be near doctors and family.

Retirement communities play a role too. About 20% of boomers nationally say they are considering moving to a 55+ community or have already done so. Oklahoma has several 55+ communities that offer amenities like clubhouses, fitness centers, and social activities for seniors.

Comparison: 2020-2024 vs. 2010-2019

Comparing recent trends with the prior decade reveals significant changes in baby boomer housing patterns. In 2010-2019, many boomers were in their 50s and 60s – some still working and others newly retired. This period saw boomers generally holding onto their homes and aging into retirement without dramatic housing shifts.

Nationally, millennials overtook boomers as the largest group of home buyers during the 2010s. By the end of that decade, millennials made up roughly 37-38% of home buyers, while boomers were a smaller fraction. Interest rates throughout the 2010s were relatively low, and home prices (especially in Oklahoma) were stable and modestly rising, creating little financial pressure for boomers to sell.

The concept of “aging in place” took hold in the 2010s, with boomers delaying downsizing. Builders weren’t yet focusing heavily on senior-friendly housing, and communities were just beginning to prepare for an aging population’s needs.

Oklahoma’s Changing Landscape

In Oklahoma specifically, the 2010s saw moderate population growth (5.5% increase from 2010 to 2020), but much of that growth was concentrated in younger age groups and urban areas due to job opportunities. There wasn’t a notable influx of out-of-state retirees; if anything, some older Oklahomans moved out to traditional retirement states.

Housing was very affordable throughout the 2010s – the median home value in Oklahoma around 2015 was well under $150,000. Because of this, boomers who did want to downsize often didn’t gain as much financially from selling as they might after the 2020s price increases.

The Pandemic’s Impact

The 2020-2024 period introduced disruptions and accelerants to boomer housing trends. The pandemic made some boomers reconsider their housing – remote work and health concerns led some to relocate earlier than planned, with some leaving cities for more rural areas to feel safer or moving closer to family for support.

The sharp rise in home values by 2021-2022 gave an unexpected financial boost to property owners, suddenly making downsizing more lucrative. By 2024, baby boomers reclaimed the top spot as the largest share of home buyers, a title they hadn’t held in years. This was partly because millennials faced new challenges (skyrocketing prices, higher interest rates, limited starter home supply), causing millennial home-buying rates to stagnate.

Another difference is the net migration trend. While the late 2010s saw some growth in Oklahoma, the early 2020s really put Oklahoma on the map as a net in-migration state. By 2023, thousands more people were moving into Oklahoma than moving out, with a sizable chunk being baby boomers.

Housing development and policies began responding more to aging needs post-2020. The Oklahoma state government and organizations like the Oklahoma Housing Finance Agency launched assessments and plans to address senior housing and long-term care. Conversations around zoning and building small homes intensified, partially recognizing that a wave of boomers would need suitable housing.

Conclusion

Baby boomers have profoundly influenced home buying trends in Oklahoma from 2020 through 2024. They moved into the spotlight as the largest group of buyers, capitalizing on the state’s affordability and often utilizing cash or home equity to secure new homes. Their choices – predominantly in suburbs or small towns rather than city centers – have shaped housing demand across the state.

Many are choosing to stay in their long-time homes, while others are downsizing or relocating to be nearer to family or enjoy a preferred lifestyle. The motivations are largely practical: financial considerations, family ties, and quality of life factors.

Comparing the early 2020s to the 2010s shows boomers are increasingly active in the housing market now, whereas before they were more passively holding property. The pandemic era’s economic shifts enabled or encouraged more boomers to make moves they might have postponed, and Oklahoma has attracted retirees from other states with its low cost of living and friendly tax policies.

Looking ahead, as the youngest boomers approach their 60s and the oldest enter their 80s, Oklahoma will likely need more housing suited to an aging population. Some experts anticipate a gradual “great downsizing” as more boomers eventually sell their homes, but the timing remains uncertain. For now, baby boomers remain key players in Oklahoma’s housing market: they are buying homes at high rates, selling and relocating at a measured pace, and widely choosing Oklahoma as a place to enjoy their retirement years.