The global reverse mortgage market was valued at USD 1.83 billion in 2023 and is expected to grow steadily, reaching USD 2.71 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 5.9% from 2024 to 2030. Market growth is primarily driven by the rising retirement funding needs of an aging population, increasing residential property values, and higher levels of home equity among senior homeowners.
Growing awareness and improved understanding of reverse mortgage products are also contributing to their increasing adoption. As more retirees become educated about how reverse mortgages function and how they can be used to supplement retirement income, these financial products are gaining wider acceptance as a viable solution for improving financial security during retirement.
The global population is aging at a rapid pace, with the number of individuals aged 65 and above expected to double by 2050. This demographic trend is a significant driver of reverse mortgage demand, as retirees look for ways to enhance fixed incomes and manage rising healthcare and living expenses. For many seniors, home equity represents their largest financial asset. Reverse mortgages enable them to unlock this value without selling their homes or relocating, making these products particularly attractive. As traditional pension systems face pressure and retirement costs continue to rise, the need for alternative funding solutions is expected to sustain market growth.
Reverse mortgage providers are actively innovating to better align their offerings with borrower needs. The introduction of flexible loan structures, including adjustable-rate options and jumbo reverse mortgages designed for high-value properties, has broadened the potential customer base. Simplified application procedures and enhanced consumer education initiatives have helped reduce misconceptions and improve trust in reverse mortgage products. Furthermore, the adoption of digital tools such as virtual consultations, automated underwriting, and electronic document management has improved operational efficiency, reduced processing timelines, and increased accessibility. These technological advancements are making reverse mortgages more transparent and appealing, particularly among tech-savvy seniors.
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Key Market Trends & Insights
- North America accounted for a market share of 35.2% in 2023.
- By type, the Home Equity Conversion Mortgages (HECMs) segment dominated the market, representing 81.8% of global revenue in 2023.
- By application, the debt segment held the largest market share in 2023.
Market Size & Forecast
- 2023 Market Size: USD 1.83 Billion
- 2030 Projected Market Size: USD 2.71 Billion
- CAGR (2024–2030): 5.9%
- North America: Largest regional market in 2023
Key Reverse Mortgage Company Insights
Leading companies in the reverse mortgage market are focusing on strategic initiatives such as product innovation, geographic expansion, and partnerships and collaborations to strengthen their competitive positioning. These strategies aim to enhance customer reach, improve service offerings, and address evolving borrower requirements.
Key Reverse Mortgage Companies
- American Advisors Group
- Finance of America Reverse
- Reverse Mortgage Funding
- Liberty Home Equity Solutions
- One Reverse Mortgage
- Mutual of Omaha Mortgage
- HighTechLending
- Fairway Independent Mortgage Corporation
- Open Mortgage
- Longbridge Financial
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Conclusion
The global reverse mortgage market is set for steady growth through 2030, supported by demographic aging, rising home equity values, and increasing demand for alternative retirement income solutions. Enhanced consumer awareness, flexible product offerings, and digital innovations are further strengthening market adoption. As retirees continue to seek financial stability without compromising home ownership, reverse mortgages are expected to remain an important component of retirement planning strategies worldwide.