The benefits of housing-related tax deductions generally decline in value as individuals age, according to new research from the National Association of Home Builders (NAHB).

Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to determine that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families, according to a statement.

"Opponents falsely argue that the deduction is only for the wealthy but it is clear that the mortgage interest deduction is also of great value to younger homeowners," said Robert Dietz, assistant vice president for tax and policy issues for NAHB. "Any tampering with this deduction would have a disproportionate impact, as a share of household income, on younger homeowners who have relatively higher mortgage interest payments. These are households who have growing demand for homeownership due to marriages and children."

The average mortgage interest deduction peaks for taxpayers in the 35 to under-45 age group, followed by the 18-to 34-aged taxpayers, and declines as the taxpayer gets older, according to a statement. Research found this occurs because the mortgage interest deduction peaks soon after the taxpayer moves from renting to homeownership, and declines over time as homeowners pay down existing mortgage debt and increase homeowner equity.