Single women buying homes–in droves

If we ever needed further evidence of the trend toward remaining single in America, this is it. Look at these stats:

  • More than one in five home buyers (20+%) is a single woman. The myth of a guy coming along and buying you a house is disappearing almost as fast as the percentage of life-long marriages.
  • Twice as many unmarried women are buying homes as single men. Of course! The guys don’t have a woman to take care of it! ” )
  • Single women make up more than one-third of the growth in real estate ownership since 1994. Yeah, we are a growing demographic with increasing economic clout!

More single women want to own their own home… either they want more space or they want less home to take care of. Or they’re moving to be closer to a job, to school, or to family. Heck, that’s why I bought in Chicago. After a few decades away, I was ready to come back and be closer to my siblings. Funny how perspectives can change as you grow older.

Another younger single woman bought because she had decided to become a single mom. Others are tired of fighting the constantly rising rents in big cities. Here’s what Elizabeth Weintraub, of About.com’s homebuying section, says about single women and home buying:

Trends for Single Women Home Buyers

  • 3 out of 4 women spend less than $200,000.
  • Prefer 2 bedrooms or more.
  • Less likely to choose new construction.
  • Buy in city over suburban areas.
  • Will compromise size & cost to get other amenities.
  • Will not compromise on location or quality of neighborhood.
  • Prefer condominiums with well run homeowner associations over single family homes.
  • Smaller spaces are acceptable.
  • Desire security and / or gated access.
  • Like to engage in social interaction with neighbors.
  • Want close proximity to stores, shopping and fitness centers.

Sound familiar? I didn’t even realize when I moved here how incredibly convenient my location is to public transportation–I actually have 3 completely different ways to access the multitude of routes and options in the city. I’m only the second stop away from Union Station on the train line–that’s a mere 15 minutes from downtown Chicago. There’s a grocery store half a block from my home–I can walk there, pick out my items, and be back in 20 minutes. The CVS on the corner carries drugs, cosmetics and wine. What more could a single working woman want?

If you’ve got stories about your home buying dreams or your experiences, please share them with our readers. Visit us here and share!


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