If you are a single woman, you may be able to buy a home. Doing so could give you the ability to build a healthy lifestyle for yourself in a space that is all your own. Consider some steps and strategies to help you.

15 Roundup of Single Women Homebuyer Statistics 

Check out some of the best single women homebuyer statistics you should know:

1. The National Association of Realtors (NAR) reports that more women are buying homes on their own today than ever before.
2. In 2022, 34% of Americans were single, accounting for 37.9 million people living alone in the U.S. (NAR)

1. 29% of all households are owned by a single person in the U.S. (NAR)
2. While 34% of single men desire to own their own home, only 29% of single women do. (NAR)
3. About 16% of women buy their own home close to family and friends as a prime reason for doing so. (NAR)
4. 7% of men who buy a home alone do so because of retirement, while just 4% of women buy a home by themselves for retirement. (NAR)
5. Women home buyers who are first-time buyers will have an average household income of $69,600 when they do so. By comparison, a single man’s average household income is $83,800 at the time of purchasing their first home. (NAR)
6. The median age for a first-time home buyer as a single woman is 38, and for men, that’s 33. (NAR)

1. 45% of women will need to make financial sacrifices to purchase a home. (NAR)
2. About 32% of women will cut spending to save to buy a home, and 26% will cut entertainment spending to do so. (NAR)
3. 46% of women will use savings as a source for a down payment when buying a home on their own. (NAR)
4. In 2000, 64% of the 25 million homes owned by single people in the U.S. were owned by women. (PEW)
5. In people over the age of 65, 6 million more households were headed by women instead of men. (PEW)
6. In 2019, women earned just 88% of what men earn. That number has not increased much since then. (PEW)

1. Women tend to live longer than men, which is one of the most common reasons older women own more homes than older men. (PEW)

Tips on Buying a Home as a Single Woman

To buy a home as a single woman, consider these strategies:

• Build a strong credit score that is 600 or higher for the best, lowest interest rate (lower rates mean that you need less in a monthly payment).
• Work to find down payment programs that will support your ability to buy now. Most states have down payment assistance programs.
• Minimize debt and keep debt-to-income ratios as low as possible to minimize financial strain during homeownership and build up equity faster. 

Is It Harder to Buy a Home as a Single Woman?

The challenge of buying a home as a single woman relates directly to income. If you have the ability to earn more, that’s going to help you buy a home sooner. Most lenders are not discriminatory but rather make lending decisions based on income, credit scores, and debt.

Tips on Home Buying

• Always consider all types of mortgage loan programs to help you. FHA and USDA loans can be an excellent way to purchase a home with a lower down payment and credit score requirement. Research options through the U.S. Department of Housing and Urban Development. 
• Buy a home that’s realistically within your budget. A smaller home means a smaller down payment.
• Consider where you buy a home. Buying several miles away from the heart of the city could mean a drastically lower mortgage and more affordability overall. 

Benefits of Homebuying as a Single Woman

Is home buying right for you as a single woman? Consider the benefits:

• Build equity.
• Build credit.
• Have the ability to live in a home that you make your own.
• Choose to put your month towards ownership instead of rental payments that never end.
• Eventually, you will own your home.

For many single women, the benefits of home buying make it worth going through the hard work to secure a loan that fits your needs.