RateZip Reverse Mortgage Demand
Who is shopping for reverse mortgages - measured monthly.
In July 2026, reverse mortgages drew 79%of the home-equity-tapping mortgage inquiries (refinance + reverse + HELOC) in RateZip's consumer lead flow - up from 50% in July 2025, with reverse inquiry volume up 150% year over year. The median reverse-mortgage inquirer owns a $300K home with 25% loan-to-value - roughly $225K of equity - and asks about accessing $90K. No government or industry source publishes reverse-mortgage shopping data; HUD reports only closed HECM endorsements, months after the demand occurred.
Share of equity-tapping demand
79%
July 2026 · was 50% in July 2025
Reverse inquiries, YoY
+150%
July 2026 vs July 2025
Median home value
$300K
inquirer self-reported · 25% median LTV
Median amount sought
$90K
≈40% of median equity
Where reverse-mortgage demand is
| State | Share of reverse inquiries |
|---|---|
| TX | 16.2% |
| FL | 13.6% |
| CA | 7.9% |
| PA | 5.4% |
| GA | 4.6% |
| MI | 4.6% |
| IL | 3.7% |
| NJ | 3.4% |
| NC | 3.4% |
| AZ | 3.3% |
Trailing three data months; share of state-attributable reverse inquiries.
Top cities for reverse-mortgage demand
| # | City | Share of reverse inquiries |
|---|---|---|
| 1 | Houston, TX | 4.2% |
| 2 | San Antonio, TX | 3.9% |
| 3 | Miami, FL | 3.0% |
| 4 | Chicago, IL | 2.8% |
| 5 | Philadelphia, PA | 2.5% |
| 6 | Fort Worth, TX | 1.8% |
| 7 | Dallas, TX | 1.8% |
| 8 | Fort Lauderdale, FL | 1.7% |
| 9 | Jacksonville, FL | 1.6% |
| 10 | Orlando, FL | 1.4% |
Share of city-attributable reverse inquiries since January 2025; cities under 20 inquiries suppressed.
What the data answers
Is reverse-mortgage demand growing?
Yes - sharply, as a share of how homeowners tap equity. In July 2026, reverse mortgages drew 79%of equity-tapping inquiries in RateZip's flow versus 50% a year earlier, and reverse inquiry volume rose 150% year over year. The driver: with mortgage rates elevated, cash-out refinancing a low-rate first lien rarely makes sense, so older homeowners who need their equity increasingly turn to reverse mortgages, which leave the existing first mortgage untouched.
What does the typical reverse-mortgage shopper look like?
The median reverse inquirer owns a $300K home with 25% loan-to-value (about $225K in equity) and asks about $90K. That is a distinctly more modest, lower-debt household than the HELOC shopper (median $500K home at 34% LTV, seeking $200K)- reverse demand comes from house-rich, payment-averse owners tapping a larger share of what they own.
Which states have the most reverse-mortgage demand?
TX (16.2%), FL (13.6%), CA (7.9%), PA (5.4%), GA (4.6%) lead the current share of reverse inquiries in RateZip's flow (trailing three months). Texas and Florida lead on volume share; demand skews toward high-equity retirement states.
How is this different from HUD's HECM data?
HUD publishes endorsements - reverse mortgages that already closed, reported with a lag. This page measures the beginning of the funnel: consumers actively shopping, months before any closing shows up in federal data. Shopping demand is the leading indicator; endorsements are the trailing confirmation.
About these numbers
Measured from consumer inquiries submitted through RateZip's owned-and-operated sites and marketing. Reverse-mortgage inquiries are separable from refinance from January 2023. Figures are shares, percentages, and self-reported medians of RateZip's own flow - a demand index, not a census of the US market. Cells under 20 responses are suppressed. Full provenance on the methodology page; the full product view is on the Mortgage Demand Index.
Citing these figures? Quote the number with its month and attribute to "RateZip Reverse Mortgage Demand" with a link to this page.