Study finds that single women in the United States own more homes compared to single men

Image by Gerd Altmann from Pixabay

LendingTree reports that American women have surpassed men in the process of accumulating wealth through homeownership. 


While women in the United States still earn less than men, they are catching up in one crucial area of wealth accumulation: homeownership. 


2.7 million more homes are owned by single women than by single men, according to a recent LendingTree study. Of these women, roughly 13% own the titles to their properties, compared to 10% of men.


According to Jacob Channel, senior economist at LendingTree and report author, "a home will represent the biggest portion of a person's overall net worth," he said to CBS MoneyWatch. "Owning a home helps you access considerably more wealth."


Credit: Pixabay


According to the Pew Research Center, women still only make an average of 82 cents for every dollar men make for doing the same work, despite historically facing social and economic barriers to wealth creation.


According to LendingTree’s study, based on data from the U.S Census Bureau’s 2022 American Community Survey, there are more single women homeowners in 47 states than men. 


LendingTree takes into account demographics such as age, income, educational attainment, and race.


In states like Delaware and Louisiana, the percentage of female homeowners reaches 15%. 


However, in Alaska, North Dakota, and South Dakota, single men owned a greater number of homes than single women, Channel said, probably as a result of the predominance of male-dominated industries in those states.


Census Bureau report from 2020 states that, on average, home equity makes up nearly 28% of household wealth. Channel points out that families and couples own the majority of homes.


The net worth of women in America is still significantly lower than the wealth of men in the United States as a whole.


Median wealth of women-led households is 45% lower than median wealth of men-led households, according to a Federal Reserve Bank study conducted in St. Louis, Missouri. 


Channel stressed that this study highlights an important point: there are many factors that affect women's wealth, but to really understand why, we need a lot more information.


This article was originally published on CBS News.




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