Single women see homeownership as ‘a wealth-building tool,’ economist says, but buying remains a challenge

Single women have long outpaced single men as homebuyers — and they may be pulling ahead financially as well.

Among first-time buyers, single women have a median income of $73,000 compared with $66,400 for single men, according to the National Association of Realtors’ 2025 Profile of Home Buyers and Sellers, which analyzed transactions made between July 2024 and June 2025. The prior year’s report recorded median income of $73,100 for women and $87,500 for men, which continued a long-term trend of male buyers outearning their female counterparts.

While it’s uncertain whether the flip is the start of a new trend, this is the first time the organization has found that the income disparity favors women, said Jessica Lautz, deputy chief economist and vice president of research for NAR.

The shift comes as single women account for 25% of first-time homebuyers, compared with 10% for single men. In 1985, those figures were 11% and 9%, respectively, according to the research. Among all homebuyers, 21% are single women and 9% are single men.

“I think [single women] understand how homeownership is a wealth-building tool. They make sacrifices,” Lautz said.

Nevertheless, men still out-earn women overall, according to the Pew Research Center. In 2024, women earned an average of 85% of what men earned, according to the organization. In 2003, that figure was 81%, and in 1982, it was 65%.

Before that, women generally struggled to get a mortgage. While the 1968 Fair Housing Act addressed housing discrimination, it wasn’t until the Equal Credit Opportunity Act of 1974 that women could reliably qualify for mortgages on their own.

Since then, the share of homeowners they represent has grown. In 2022, single women owned 58% of the nearly 35.2 million homes owned by unmarried Americans, compared with 42% for single men, according to the Pew Research Center.

Single women who are first-time homebuyers have a median age of 44, while for single men, it’s 39, the NAR research shows. For repeat buyers, the age difference is small: age 63 for women, age 64 for men.

“What I see is women are not waiting to either get married or find a life partner before moving forward and accomplishing their financial goals,” said certified financial planner Nicole Romito, a partner at Private Vista in Chicago who specializes in single women going through life transitions, including divorce or the death of a spouse or partner.

“Homeownership is generally the top goal — or if not, one of the top three goals — that [clients] want to try to work toward or maintain when we look at their overall financial plan,” Romito said.

Owning a home has become a more elusive goal in recent years for many Americans as higher mortgage rates, rising prices and a limited supply of homes for sale have pushed monthly payments out of reach for many buyers.

For single buyers, relying on one income to qualify for a mortgage can make clearing those hurdles even harder, especially because home values have risen much faster than household incomes. From 2000 to 2024, median per-capita income grew by around 155%, while median home prices increased by about 207%, according to a recent study from the Federal Reserve Bank of St. Louis. 

The median price of an existing home of any type in February was $398,000, according to NAR. Saving for a down payment and closing costs — amounts paid when you finalize your purchase, such as title insurance or property taxes — can be a heavy lift.

“It’s difficult to save for a down payment while paying rent,” Lautz said.

That’s when the sacrifices come in, Lautz said. Among single women buyers, 41% said they made financial sacrifices to save enough to buy a house, compared with 31% of men. That includes cutting back on things like non-essential goods, entertainment and clothes, canceling vacation plans and taking on a second job, she said.