Single Female Buyers Outpriced in Majority of Metros

While single female homebuyers have been outpacing their male counterparts in recent years, they are being outpriced in major metros.

As the median home price continues to reach record highs, single females are struggling to become homeowners in the majority of big cities. According to Property Shark, compared to previous years, more single people are priced out of homes in the 51 largest markets in the U.S., with women outpacing men. The report found that women can afford to buy in just 17 of the country’s 51 biggest cities, but men can afford to buy in 29 of those places. Overall, adults can afford to purchase a home alone in 29 of the 51 cities, compared to 37 just five years ago.

The income gap is also having a strong impact on women wanting to purchase a home on their own. Single women would have to spend 49% of the median income to pay for the monthly costs associated with a starter home, while men would only need to spend 32%. According to the Society for Human Resource Management, women make 82 cents for every dollar men make in 2022. Minority women are making even less compared to their white female workers. While that pay gap between men and women has been closing in recent years, the pandemic slowed that progress as more women were forced to leave the workforce for family management.

In Pennsylvania, Philadelphia is not considered affordable for either male or female solo homebuyers, as it would take 53% of a female’s income to afford a property and 43% of a male’s.