The rapid change of population age structure is an important feature in China's current society. It is significant to study the influence of the change of population age structure on the housing wealth effect, to regulatethe housing price and the release of resident's consumption potential. This paper uses the data of CFPS to analyze the influence of population age structure change on the housing wealth effect, and further investigates the different influences of population age structure on the housing wealth effect of heterogeneous household. The results show that the rises of both child and elderly dependency ratios have a significant positive impact on the wealth effect of housing;moreover, the positive influence of the increase of early upbringing ratio on the wealth effect of family housing is greater. The increase of the old age dependency ratio and the young dependency ratio has a significant positive effect on the housing wealth effect of the households with large property rights and the households with low housing price income ratio, but has no significant effect on the households with small property rights and the households with high housing price income ratio. In areas with low to high housing price growth, the positive influence of the increase of the child-dependency ratio on the wealth effect of family housing is gradually strengthened, while the positive influence of the increase of the old-age dependency ratio is gradually weakened.