Did you know that single women own more homes than single men?
Here’s what we know.
This discovery is surprising, “considering the financial hurdles women have historically faced,” Jacob Channel, a senior economist at LendingTree and the author of the analysis, told CBS. Women make on average 83.1 cents for every dollar a man makes, according to the Bureau of Labor Statistics.
The analysis discovered that while single men own roughly 8.1 million homes, single women own about 10.7 million homes.
Details: Some critics are wondering how single women are able to afford more homes than single men with the wage gap.
The New York Times reported that “not all women are lower earners,” especially for those younger than 30.
Additionally, women on average have longer life expectancies than men do, which leads them to still use their homes even after their spouse dies.
The National Association of Realtors reported that women typically will spend less money and make more sacrifices on their homes than men will.
What has been said: “I have saved aggressively for a home because my whole adult life I’ve been hearing about the wage gap and how women are at a disadvantage, and it made me want to take care of myself financially,” Sarah Wilson, a financial expert and author for financial website Budget Girl, told NBC News in 2020.
Forbes reported that Louisiana is the state with the highest amount of women owning homes over their male counterparts, while both North Dakota and South Dakota are the only states where single men own more homes than their female counterparts.
“In a world where I know and have seen how hard it is to be a woman, I feel a need to make sure that I will never be in a vulnerable situation if I can control it. That means budgeting, saving, investing and building my own personal wealth,” Wilson said.