Trends in Homeownership Among Single Women: Insights and Future Outlook
Recent research highlights a significant shift in homeownership demographics, particularly among single women. Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors (NAR), has provided valuable insights into this evolving landscape.
Changing Demographics of Home Buyers
The composition of home buyers has transformed markedly from 1981 to the present. In 1981, married couples made up 73% of home buyers, while single women accounted for 11% and single men for 10%. Fast forward to today, and the statistics reveal a notable change: married couples now represent 62% of buyers, single women encompass 20%, and single men constitute 8%.
The Growth of Single Women Homeowners
The peak for single women buyers occurred in 2006, when they comprised 22% of home purchasers. Currently, their share fluctuates between 17% and 20% from 2016 through 2024. This trend indicates a growing propensity for single women to invest in real estate.
First-Time Homebuyers: A Shift in Marriage Rates
Current trends denote a decrease in the rates of marriage among first-time homebuyers. In 1985, 75% of first-time homebuyers were married, compared to only 50% today. Notably, the proportion of single women buying homes for the first time has more than doubled, escalating from 11% in 1985 to a projected 24% in 2024. In contrast, single men’s ownership rates have increased marginally from 9% to 11% over the same period.
Factors Driving Homeownership Among Women
Several factors explain the increasing trend of single women purchasing homes. Lautz indicates that many single women are more likely to have dependent children living at home and show a greater inclination toward buying multigenerational homes. This may drive their decision to secure stable housing environments.
Economic Considerations
Financial dynamics also play a critical role in the contrast between single men and women in home buying. Single women typically enter the market with a median household income of $71,300, whereas single men have a higher median income of $87,500. Although men’s incomes surpass those of dual-income households, many women are making financial sacrifices to afford their homes.
Financial Sacrifices Made by Women
A notable 44% of single women report making financial sacrifices—such as reducing spending on nonessential items, foregoing vacations, and taking additional jobs—to achieve homeownership. This contrasts with 37% of single men who undertake similar sacrifices.
Future Projections and Economic Impact
According to Sotheby’s International Realty’s 2025 Luxury Outlook Report, women are on a trajectory to control $34 trillion, or 38% of all investable assets, by 2030. This statistic underscores the growing economic influence of women and suggests that this trend in homeownership is likely to continue.
In summary, the landscape of homeownership is shifting, with single women increasingly stepping into the role of primary buyers. This change reflects broader societal trends around marriage and financial independence, setting the stage for a significant impact on the housing market moving forward.
