News BriefRentals

Pay gap hinders single women’s homebuying power, study shows

Discrepancy identified between single women and men buying starter homes in 9 U.S. metros
  • PropertyShark and RentCafé's latest report revealed a housing gender gap in 9 cities -- meaning men can afford to buy a starter home in these cities while women cannot.
  • In these metros, women make 70 to 73 cents on the dollar.
  • There are 14 cities where singles, no matter their gender, can't afford to buy.

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Low inventory and lack of access to affordable housing has been a common theme in real estate over the past year, and according to a new study by PropertyShark, single women looking to buy are disproportionately impacted by these housing woes. "People in some demographics have a tougher time finding a home than others, though," notes the report. "Being single and looking to live independently limits your choices, that’s simple math, but being a single woman can make matters worse." The PropertyShark team, in conjunction with RentCafé, studied 50 metro areas across the United States and found that in 9 of the 50 metros, women couldn't afford a starter home while their single male counterparts could. In Seattle, Sacramento, Denver, Fort Worth, Houston, Memphis, Milwaukee, Chicago and Nashville, the average single woman would need to spend more than 30 percent of her monthly income to afford a studio or one-bedroom property  -- which exceeds the industry benchmark for cl...