Single women are now the second largest category of homeowners, behind only married couples. They account for over double as many home purchases as single men, at 18% compared to only 7%. The number is expected to keep going up. Even homebuilders are taking note, and new projects are increasingly catering to what are perceived to be womens’ preferences.
Why the shift? It could be rising rents. Though home prices are high now, with rental prices going up as well, a home purchase now is an investment for the future rather than an in-the-moment financial decision. Women are believed to be more likely than men to see a home purchase as a future investment. The data seem to agree, as 23% of single women cited rising rents as a reason for buying now, as opposed to 16% on average for men.