Who is shopping for reverse mortgages — measured monthly.
In June 2026, reverse mortgages drew 86%of the home-equity-tapping mortgage inquiries (refinance + reverse + HELOC) in RateZip's consumer lead flow — up from 23% in June 2025, with reverse inquiry volume up 98% 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
86%
June 2026 · was 23% in June 2025
Reverse inquiries, YoY
+98%
June 2026 vs June 2025
Median home value
$300K
inquirer self-reported · 25% median LTV
Median amount sought
$90K
≈40% of median equity
Reverse demand vs refinance and HELOC
RefinanceReverse mortgageHELOC / home equity
Each product's share of the month's home-equity-tapping inquiries (refinance + reverse + HELOC) in RateZip's lead flow. Reverse-mortgage inquiries are separable from refinance from January 2023. Products with fewer than 20 inquiries in a month are excluded from that month. Shares of RateZip's own traffic, not total US market volume.
Where reverse-mortgage demand is
State
Share of reverse inquiries
TX
16.8%
FL
12.4%
CA
6.8%
PA
5.6%
MI
4.5%
GA
4.4%
NC
4.2%
IL
3.8%
SC
3.6%
NJ
3.3%
Trailing three data months; share of state-attributable reverse inquiries.
What the data answers
Is reverse-mortgage demand growing?
Yes — sharply, as a share of how homeowners tap equity. In June 2026, reverse mortgages drew 86%of equity-tapping inquiries in RateZip's flow versus 23% a year earlier, and reverse inquiry volume rose 98% 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 (16.8%), FL (12.4%), CA (6.8%), PA (5.6%), MI (4.5%) 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.