Single Households Are More Likely to Struggle With Housing Costs

When it comes to the housing market, married couples hold a competitive financial edge over single households. According to a recent analysis by real estate marketing platform Redfin, 64% of single people struggle to afford their rent or mortgage payments, compared with 39% of married couples.

Married households tend to earn more

While half of single Americans earn less than $50,000 per year, that statistic is true for just 9% of married couples. According to the report, 62% of married people earn between $100,000 and $500,000, compared with 21% of single people.

Single households are more likely to be stuck in place

Not only are many single people more likely to rely on one income than married couples, they also tend to be younger and newer in their careers. Because of these factors, single households also are less likely to move; for those who rent, they also are less likely to be able to save money to buy a home.

Of those surveyed, 26% of single people say they’re not moving because they can’t afford the type of home they want to move into, compared with 15% of married couples. Additionally, 41% of single people say moving is too expensive, compared with 27% of married couples.