Single Men vs. Women: Who Fares Best in Housing?
May 26, 2016
Home ownership is more profitable for single men than for single women, according to a new study by RealtyTrac.
Housing's Girl Power
Indeed, researchers found that homes owned by single men are valued 10 percent higher, on average, than homes owned by single women. Also, homes owned by single men have gained an average of $63,921 since purchase, which equates to a 33 percent return on purchase price. That is $10,112 – or 16 percent – higher than average gains single women have seen from their home purchase.
The current value of homes owned by single men averages $255,226 – 10 percent above the current market value average of homes owned by single women ($229,094).
“Women earn less than men on average — 19 percent less in 2015 according to the Bureau of Labor Statistics — giving them less purchasing power when it comes to buying a home,” says Daren Blomquist, senior vice president at RealtyTrac. “So it’s not surprising to see the 10 percent gender gap in average home values between single men and single women home owners. However, the slower home price appreciation for homes owned by single women demonstrates that less purchasing power is also having on a domino effect on their ability to build wealth through home ownership as quickly as single men.”
The following markets have the largest housing gender gap, where average values of homes owned by single men were the highest above the average values of homes owned by single women:
- District of Columbia: 14% higher
- Florida: 12% higher
- West Virginia: 12% higher
- Wisconsin: 12% higher
- Texas: 10% higher
- Alabama: 10% higher
Meanwhile, in three states, the average values of homes owned by single women were higher than the values of homes owned by single men: Massachusetts (11 percent higher), Kentucky (2 percent higher), and Kansas (1 percent higher).
Updated: August 22, 2019