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Single women homebuyers: These are the best housing markets for you

Aly J. Yale
The Mortgage Reports contributor

The top housing markets for career-minded women

The Northeast is a great place for single, career-focused women, apparently. According to new data, all of the nation’s top three markets for single female homebuyers are in this region.

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Buffalo takes the cake

According to a new ranking from Owners.com, Buffalo, New York is the nation’s best housing market for single, career-minded women. With an average home price of just $175,578, plus a low female unemployment rate of 2.9 percent, it offers prime job and homeownership opportunities for single women.

Median female earnings in Buffalo sit around $41,000, and single women account for 13 percent of all households in the city. They spend around 22 percent of their salary on their mortgage.

Baltimore took the No. 2. Spot, followed by Hartford, Connecticut; Richmond, Virginia; and Boston. Dallas was the only Southern city to make the top 10.

Millennials aren’t waiting for marriage to buy a home — at least not in these cities

Single women homebuyers

At the national level, single women make up 13.2 percent of all households, paying around $341,000 for their homes. The average single female homeowner makes $42,352 per year and spends 40.5 percent on their mortgage payment. Overall, the unemployment rate for women in the U.S. is 5.2 percent.

Who’s buying houses? All the single ladies

According to Daniel Maloney, head of national sales for Owners.com, home purchases by single women are on the rise.

“With lower unemployment rates and higher incomes than the national average, single women are entering the real estate market at a face pace and placing a huge value on owning a home,” he said.

In 2017, single females accounted for 18 percent of all homebuyers. Single men made up just 7 percent.

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Want to join America’s growing number of single women homebuyers? Then shop around and see what mortgage rates you qualify for today.

Verify your new rate (Dec 11th, 2018)