Homeownership More Profitable for Single Men Than Single Women According to New RealtyTrac Analysis
IRVINE, CA--(Marketwired - May 26, 2016) - RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released an analysis showing homes owned by single men on average are valued 10 percent more and have appreciated $10,112 (16 percent) more since purchase than homes owned by single women.
The analysis covered more than 2.1 million single family homes nationwide owned by either single men (1,139,493) or single women (1,011,572) based on public record tax assessor data collected by RealtyTrac.
The average estimated current market value of homes owned by single men was $255,226 -- 10 percent higher than the average current market value of homes owned by single women: $229,094.
Homes owned by single men have gained an average of $63,921 since purchase, a 33 percent return on purchase price. That was $10,112 (16 percent) more than the average $53,809 gain since purchase for homes owned by single women, a 31 percent return on purchase price.
"Women earn less than men on average -- 19 percent less in 2015 according to the Bureau of Labor Statistics -- giving them less purchasing power when it comes to buying a home," said Daren Blomquist, senior vice president at RealtyTrac. "So it's not surprising to see the 10 percent gender gap in average home values between single men and single women homeowners; however, the slower home price appreciation for homes owned by single women demonstrates that less purchasing power is also having a domino effect on their ability to build wealth through homeownership as quickly as single men."
Housing gender gap widens with more years of homeownership
Among homes owned for at least 15 years, those owned by single men on average had a current market value of $288,912 -- 17 percent higher than the average current market value of homes owned by single women: $240,166.
Homes owned for at least 15 years by single men have gained an average of $170,765 since purchase -- a 145 percent return on purchase price. That was $36,496 more than the average $134,269 gain since purchase for homes owned at least 15 years by single women -- a 127 percent return on purchase price.
Years Owned | Home Value Gender Gap | Home Value Gain Gender Gap | Home Value ROI Gender Gap | |||
10 Years or Fewer | $18,185 (7 percent) | $6,266 (16 percent) | 209 basis points | |||
More Than 10 Years | $38,872 (14 percent) | $19,781 (20 percent) | 569 basis points | |||
More Than 15 Years | $48,746 (17 percent) | $36,496 (21 percent) | 1774 basis points | |||
All Years | $26,132 (10 percent) | $10,112 (16 percent) | 272 basis points |
Markets with biggest housing gender gap