Single Women are Purchasing Homes at Growing Rates

Single women are more financially empowered and career-focused than ever before in the United States.

Women are taking charge of their financial liberties without relying on a man, and for many, that involves investing in a home. Rather than lining a landlord’s pockets with rent each month, many choose the investment-focused route of putting one’s money towards a home.

Across the country, the rate at which single women are buying housing has continued to grow over the last several years—in spite of the still-present wage gap.

Although the average woman earns less than the average man, single women make up a larger percentage of homeowners than single men. A national report by Redfin shows that single women bought homes at a rate that was nearly double the growth rate of purchases among single men in 2020.

It’s evident that single women are taking the housing market by storm. But, what cities are single women flocking to buy homes?

Women have a particularly strong presence in Boston, MA’s real estate market. In 2020, single females made up more than 25% of home purchases in Boston: around 2% more than single men in the same market. Single women also dominated the housing market in Providence, RI, composing 21.2% home purchases. The remaining top five cities with the highest percentages of homes purchased by single females in 2020 includes Detroit, MI, Warren, MI, and Atlanta, GA. 

While the aforementioned cities are where single women purchased the highest percentage of homes in 2020, single ladies are not exclusive to these areas. In fact, data from the  U.S. census shows that New Orleans, LA has the highest concentration of homeowning single women per capita, followed closely by Raleigh, NC, though neither of these cities made the top cities for single female home purchases in 2020.

A community of female homeowners is a likely indicator of a housing market that welcomes women regardless of their income level or local home values. Also, single women value convenience to friends and family in their neighborhood choice more than any other household composition. However, it’s evident that single women take more into consideration than just proximity to other singles when making home buying decisions.

A study by DeedClaim, an online deed preparation service, highlights the best cities for single female home ownership based on nine ranking factors, including number of singles, number of single, female-owned homes, median home value, median annual income for females, and more.

Topping the list is Pittsburgh, PA. The remarkably high score earned by the Steeler city stems from Pittsburgh’s high number of female-owned homes and a notably low median home price of $138,000. These factors mean that women can enter the housing market with lower home costs and a local support system of other single, home-owning women.

Following Pittsburgh as the second-best city for single female home ownership is Philadelphia, PA. Finishing out the top five best cities for single female home ownership are Richmond, VA, Cincinnati, OH and Raleigh, NC. Interestingly, all of these cities are on the east coast.

Women are more financially liberated and career-focused than ever before, and single women’s reign on the housing market is expected to continue to grow.

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