Despite the odds stacked against them—wage gap, expensive housing market, rising borrowing costs—single women account for 17% of all homebuyers in 2023 compared with the 7% share of single men. Women are more likely than men to pursue homeownership even before marriage, and most view it as a good financial investment, Bankrate reports.
A 2022 Bank of America survey revealed that 65% of single female prospective homebuyers said they’d rather not wait for marriage to buy a home, and 30% of women respondents bought their homes when they were single.
“Women have a very strong preference for homeownership,” [Jessica] Lautz says. “They think it’s a good financial investment. They also are willing to make financial sacrifices. They traditionally have a lower household income, and they’re willing to cut expenses in other areas of their life to achieve homeownership.”
In something of a paradox, single women make less money on average than single men but are more eager to buy homes, Lautz says. That could reflect the certainty and stability that go along with a monthly mortgage payment, as opposed to renting in an era when monthly rents have been rising sharply.