HECM Market Trends by State & County

California is the nation’s largest HECM market, representing over 26% of national volume. With senior home equity surpassing $2.9T and median home prices near $785k, California borrowers frequently utilize both maximum FHA claim caps ($1,149,825) and proprietary jumbo reverse mortgages.

Florida boasts the highest concentration of retirement-age homeowners in the country. With strong in-migration of retirees holding significant home equity, HECM for Purchase transactions have grown 24% year-over-year in the Tampa and Orlando corridors.

Texas operates under Article XVI, Section 50(k) of the Texas Constitution, requiring specific statutory cooling-off periods and disclosures. The state has experienced the fastest compound annual growth in line-of-credit reverse mortgage originations between Austin and Dallas-Fort Worth.

New York features high MCA density across Long Island and the New York Metro area. State laws enacted in 2021 provide extensive default prevention protections and mandatory pre-counseling disclosures for senior borrowers.

Colorado consistently ranks among the top per-capita HECM markets nationwide. High Front Range property valuations combined with active retirement lifestyles drive high line-of-credit establishment as financial buffer strategies.

Washington state, led by the Puget Sound corridor, shows exceptionally high average loan balances due to rapid multi-decade property appreciation across King and Snohomish counties.

Arizona’s Sun City and Scottsdale communities are historic epicenters of reverse mortgage adoption. With senior homeownership rates exceeding 81% in Maricopa County, Arizona is a prime testbed for HECM for Purchase downsizing programs.

Ocean County, NJ is home to over 40 age-restricted active adult retirement communities. Reverse mortgages in NJ serve as a key tool for senior property tax relief and long-term in-home care financing.

Virginia originations are concentrated in the Northern Virginia suburbs (Fairfax, Loudoun, Prince William) where high government and military retiree density drives large average loan balances.

Massachusetts law mandates an in-person or live video counseling verification with certified counselors before any HECM loan origination can proceed.

North Carolina features strict commissioner oversight and independent state-level counseling certifications. High relocation activity to the Research Triangle and Asheville retirement hubs has driven a 13.2% increase in HECM endorsements.

Oregon senior homeowners in the Willamette Valley and Central Oregon show high preference for standby credit lines as hedge instruments against potential medical expenses.

Maryland features high average Maximum Claim Amounts across Montgomery and Howard counties, with high federal workforce retiree participation.

Pennsylvania represents a mature legacy market where reverse mortgages are heavily utilized to eliminate remaining forward mortgage debt and provide predictable monthly tenure supplement disbursements.

Georgia exhibits rapid growth in the Atlanta metro area. Senior homeowners in Fulton and Gwinnett counties frequently use HECMs to eliminate remaining forward liens before full retirement.

Illinois activity is anchored by Cook and the collar counties. Senior property tax relief is a primary motivator for borrowers establishing standby reverse mortgage credit lines.

Utah is among the fastest growing per-capita reverse mortgage states in the nation. Strong property appreciation along the Wasatch Front and St. George has dramatically enlarged borrowing power.

Hawaii features one of the highest average Maximum Claim Amounts ($872k) in the nation due to Honolulu property values.

Nevada activity is concentrated in the Las Vegas (Clark County) and Reno (Washoe County) corridors, driven by retiree migration seeking tax-friendly retirement states.

Ohio represents an affordable Midwestern market where reverse mortgages provide substantial monthly tenure enhancements relative to low overall cost of living.

Fairfield County leads Connecticut with high MCA valuations and substantial suburban home equity monetization.

South Carolina shows strong retirement in-migration along the Grand Strand (Myrtle Beach/Horry County) and Charleston, driving HECM for Purchase popularity among retirees.

Tennessee benefits from zero state income tax and high inward migration of seniors to Nashville and Knoxville, driving rising home equity monetization.

Michigan originations are centered in Metro Detroit, where mature auto-industry pensions and unencumbered home equity form the basis for equity-monetization planning.

Minnesota boasts high senior homeownership rates and significant home equity reserves in the Twin Cities metro area.

Idaho has experienced exceptional HECM volume growth in the Boise Treasure Valley driven by rapid multi-year appreciation and retiree in-migration.

Missouri features low living costs and consistent HECM line-of-credit origination across St. Louis and Kansas City metropolitan hubs.

Wisconsin seniors frequently use reverse mortgages to clear existing mortgages and mitigate property taxes in Milwaukee and Madison.

Indiana offers strong affordability where modest loan amounts yield high purchasing power for senior homeowners in retirement.

Louisiana reverse mortgages provide crucial buffer liquidity against escalating Gulf Coast homeowners and flood insurance costs.

New Mexico originations thrive in Albuquerque and Santa Fe, where artists and retirees leverage home equity for aging in place.

Alabama seniors benefit from low property taxes, using HECM proceeds primarily for healthcare and home accessibility modifications.

New Hampshire has no state income tax, making it a popular New England retirement refuge where HECMs offset local property taxes.

Kentucky originations are concentrated in Louisville and Lexington, providing reliable pension supplementation.

Oklahoma serves as a major national operational hub for HECM originations (FAR headquarters in Tulsa) with steady local adoption.

Sussex County (Rehoboth Beach / Lewes) is a prime mid-Atlantic coastal retirement destination with high HECM for Purchase adoption.

Rhode Island requires specialized counseling notifications; volume is concentrated in Providence and coastal Kent County.

Montana has seen rapid price growth in Flathead, Gallatin, and Missoula counties, increasing senior borrowing capacity.

Johnson County (Overland Park/Olathe) drives the vast majority of Kansas HECM activity with high equity retention.

Maine has the oldest median population in the United States, driving steady demand for line-of-credit home care financing in Cumberland County.

Northwest Arkansas (Benton County) and Little Rock show steady reverse mortgage demand for retirement cash flow optimization.

Des Moines (Polk County) serves as the primary urban center for Iowa reverse mortgage transactions.

Nebraska originations are centered in Omaha and Lincoln, with Mutual of Omaha corporate presence driving high consumer awareness.

Alaska features elevated living costs where HECM lines of credit assist long-term homeowners in Anchorage and Wasilla.

The District of Columbia features high property values ($690k median), where long-term homeowners utilize maximum FHA claim caps.

Mississippi features lowest average MCA claims nationwide ($173k), offering vital supplemental tenure liquidity for rural retirees.

South Dakota shows steady growth in Sioux Falls and Rapid City, supported by the state’s tax-friendly retirement climate.

Vermont features strict independent counseling protections with primary volume concentrated in Greater Burlington.

West Virginia seniors use reverse mortgages to eliminate forward loan payments and maintain rural primary residences.

North Dakota activity centers in Fargo (Cass County) and Bismarck, providing steady retirement cash reserves.

Wyoming boasts no state income tax and high unencumbered home equity in Cheyenne and Casper.