Here’s one thing single women have going for them over single men: They’re more likely to own their own home.
A report by the online lending marketplace LendingTree found that 10.76 million U.S. homes were owned and occupied by single women, while 8.12 million were owned and occupied by single men. The report analyzed data from the U.S. Census Bureau’s 2021 American Community Survey.
Single men were found to own and occupy a larger percentage of homes in only two states: North Dakota and South Dakota.
You may be wondering, ‘How could this be, considering the wage gap?’ The study sugars several possible explanations.
- Not all women are lower earners. This is especially true for women under 30, whose earnings meet or exceed that of their male counterparts in 22 U.S. metros, and meet or exceed at least 90% of men’s earnings in another 107, according to the report.
- Women have a longer life expectancy than men. So, some portion of single women who own and occupy their homes are widows who previously lived with a spouse. This helps explain why Florida, a popular state for retirees, had the largest gap in homeownership rates among single women and single men — about 4.5% in favor of the women, according to LendingTree.
- Single women spend less for homes than men do. That’s according to a National Association of Realtors report, which also found that women are more willing to make financial sacrifices to own a home.
Related: The Rent-or-Buy Debate: Pros and Cons of Renting and Buying a Home
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