March 19, 2019
The Gender Gap in Homeownership Might Not be What You Expect
When one hears the phrase “gender gap,” it’s not uncommon for a scenario to practically spring to mind: a generalized rubric in which men, for one reason or another, are outpacing women in a zone of activity. (Those gender gaps with the most common currency in our culture at the moment include the gender wage gap, wherein looked at univariately women earn only 80% of what men do, and the corporate leadership gap, wherein women make up only 23% of the nation’s corporate leadership.) But gaps run both ways in any society, depending on what field one is looking at, and today we would like to report on one interesting zone in which our society has flipped the script on a very key rubric of property ownership: the gender gap in homeownership.
In its recent report, A Different Kind of Gender Gap: Homeownership Is More Common Among Single Women Than Single Men, Lending Tree pored through data in the United States Census Bureau’s American FactFinder for 2017 to examine owner-occupied housing units. And what these data revealed is remarkable indeed, given the wage gap mentioned above: single women are outpacing single men by a large margin in homeownership.
Indeed, our own service area of Miami sees the most significant gap. Of the 1,252,418 owner-occupied homes in the area, single women own and occupy almost 27% ; single men own and occupy only just above 14%, resulting in a gap of nearly 13%. Tampa comes in at number eight on the list, with its total of 778,459 owner-occupied homes inhabited by single men at a rate of just above 14%, while single women own and occupy just above 25%—resulting in a nearly 11% gap overall.
In our other service area states, we find Boston representing Massachusetts on the list at number 22 (total homes owner-occupied: 1,126,784; percentage single men: almost 12%; percentage single women: above 20%; total gap: 8.85%); and Providence, Rhode Island, comes in at number 30 (total homes owner-occupied: 387,658; percentage single men: below 13%; percentage single women: almost 21%; total gap: 8.10%.
What the data do not supply is a reason for this gap. Any guesses we might make would be unsupported by data, so it would be unproductive to engage in such speculation.
Whether you’re a single woman or a single man looking to buy that perfect home, at Topouzis & Associates, P.C., not only do we offer the services that ensure your title gets conveyed clear of defects, we supply purchasers with Owner’s Policies of title insurance. Contact us if you want your property transfer in Cranston, Rhode Island; Springfield, Massachusetts; or Miami, Florida to go through without a hitch—both before and after closing.