Working With Single Home Buyers

Quick Takeaways

Buying your own house offers privacy, independence and builds equity
Make personal safety a consideration
Make sure your house matches your lifestyle

Source: Buying A House as a Single Woman: A How-To Guide (Rocket Mortgage, May 26, 2024)

Buying a home as a single man or woman is a significant milestone that requires careful planning and consideration. Here are some tailored tips and advice to help single individuals navigate the home-buying process:

Ensure you have enough savings for a down payment, closing costs, and an emergency fund. Typically, aim for at least 20% of the home’s purchase price for a down payment to avoid private mortgage insurance (PMI).

Make a list of must-haves and nice-to-haves in a home, such as location, size, number of bedrooms and bathrooms, proximity to work or public transportation, and neighborhood amenities. Consider your long-term plans, such as career goals, family planning, and lifestyle preferences.

When you find the right home, work with your agent to make a competitive offer based on market conditions and the property's value. Be prepared to negotiate with the seller on price and terms.

By leveraging the expertise of real estate professionals, single men and women can successfully navigate the home-buying process and make a well-informed investment in their future. Homeownership can provide stability, financial growth, and a sense of accomplishment, making it a worthwhile endeavor for single individuals.

See References for more information.

References

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.

Single Home Buyer Statistics

According to the 2024 NAR Profile of Home Buyers and Sellers

First time single buyers are more likely to be females
Single female buyers made up 20% of 2024 first-time home buyers
Single male buyers made up 8% of 2024 first-time home buyers
Single female buyers averaged 60in age (40for first-time buyers and 64for repeat buyers), and single male buyers averaged 58 in age (34 for first-time buyers and 64for repeat buyers) (Ex. 1-12).

For more statistics on single home buyers, including reasons for purchasing a home, average income, desired type of home and neighborhood, see the National Association of REALTORS® 2024 NAR Profile of Home Buyers and Sellers.

Single Buyer Demographics

Homeownership Gender Gap: Single Women Own More Homes Than Single Men (LendingTree, Jan. 27, 2025)

The homeownership rate is highest among single men in North Dakota, South Dakota and Alaska. In these states, single men own 13.52%, 13.10% and 12.79% of owner-occupied housing units. In addition to being the states where homeownership rates among single men are highest, they’re the only three where single men own more homes than single women.

SINK (Single Income No Kids) Women Are Buying Homes in Droves—Here’s How Much You Need to Buy a Home on Your Own (realtor.com®, Aug. 19, 2024)

Single-person homeownership has been historically dominated by women, according to Realtor.com® senior economist Ralph McLaughlin. Single women made up 19% of all homebuyers in 2023, according to the National Association of Realtors®. The U.S. Census Bureau reports that single women own 20.3 million homes in the U.S., while single men own 14.9 million.

Millennials Lead the Charge in Solo Home Purchases and Buying with Friends and Family, Defying Norms (Bankrate, May 16, 2024)

Housing experts attribute the increase in solo home purchases among millennials to evolving generational attitudes toward marriage. Pew Research Center data shows younger Americans are increasingly delaying or forgoing marriage altogether, but their attitudes toward homeownership haven’t changed as much. Owning a home continues to be a cornerstone of the American dream for most millennials, and most are willing to be more flexible in their approach to what’s become a challenging housing market.

10 Best Cities for Single Female Homeowners in the U.S. (The Zebra, Mar. 18, 2024)

Columbus, Ohio has the most single female homeowners compared to male homeowners
New Orleans and Memphis, Tennessee came in second and third, with a difference of 8% and 7% respectively
Portland, Oregon has the smallest gender gap between single female and male homeowners

Single Home Buyer Tastes

6 Features Single Women Look for in a Home (New Home Source, Oct. 9, 2024)

Across the board, people living alone cite safety and security as their top priority when it comes to selecting a new home. This especially applies to single women. Nobody wants to be looking over their shoulder as they fish out their keys when they get home after a long day.
A major question single women homebuyers ask as they look through floor plans for new builds or walk through open houses is: Would I feel safe living here? They don’t want to be sleeping with one eye open at night any time there’s an unusual sound downstairs.
The JCHS research notes that single women prefer safe neighborhoods and gated access more than any other homebuying group. They prefer apartments and condominiums above ground level for similar safety reasons, too.
Single women like homes in brightly lit neighborhoods, with entrance paths to the front door that are within view by residents living next door or across the street. They’re also shopping for features like drive-in garages with interior access into the house and built-in alarm systems.

NAHB on Home Size: Smaller, Bigger, Smaller Again (Florida REALTORS® News, Feb. 2, 2023)

Other home features that resonate with both first-time and repeat home buyers include:

Laundry rooms
Exterior lighting
Ceiling fans
Patios
Walk-in pantries
Hardwood flooring on the main level

Advice for Single Buyers

9 Things Single Home Buyers Must Know (HSH, Jul. 30, 2024)

FHA mortgages entail paying mortgage insurance premiums, and may not offer the most competitive mortgage rates. Still, if an FHA mortgage is your best shot at qualifying for a mortgage as a single home buyer, you may consider it worth paying a little extra.

Buying A House as a Single Woman: A How-To Guide (Rocket Mortgage, May 26, 2024)

The home you buy now should match your current lifestyle. Your lifestyle will likely be a key deciding factor when considering where you want to live. For example, do you want to live in the middle of a busy city or the quiet expanse of a rural area?
You should also consider how the home will fit into your schedule and what it may demand of skills and resources. Do you want a turnkey property or a fixer-upper? Are you interested in a starter home or a forever home? Do you have the time or money to maintain a big yard? Your answers to these questions can guide you to a property that aligns with your lifestyle.

Buying Houses Before Finding Spouses (The New York Times, Mar. 1, 2024)

In May 2023, Ms. Modares and Ms. Douglass helped guide her through the home-buying process, connecting her with a female loan officer who suggested she employ a buydown — a mortgage financing technique where the buyer starts out with a lower interest rate, sometimes after paying a fee and sometimes as a concession from the seller. It’s a strategy that can help buyers save cash at the outset to get into a home, although they need to be prepared for costs to jump when the initial rate expires.

eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

Home Buying 101 (Audiobook)

The Unofficial Guide to Buying a Home (eBook)

The Everything Homebuying Book (eBook)

Home Buying Kit for Dummies (eBook)

Kiplinger’s Money Smart Women (Audiobook)

Buying a Home When You're Single (eBook)

Financing Your Condo, Co-Op, or Townhouse (eBook)

Home Buyer's Checklist: Everything You Need to Know—But Forget to Ask—Before You Buy a Home (eBook)

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