Homes owned by single men on average are valued 10% more and have appreciated 16% more since purchase than homes owned by single women, according to a RealtyTrac analysis.
The current estimated market value of homes owned by single men was $255,226 — 10% higher than the average current market value of homes owned by single women: $229,094. Homes owned by single men have gained an average of $63,921 since purchase, a 33% return on purchase price. That was $10,112 (16%) more than the average $53,809 gain since purchase for homes owned by single women, a 31% return on purchase price.
“Women earn less than men on average — 19% less in 2015 according to the Bureau of Labor Statistics — giving them less purchasing power when it comes to buying a home,” said Daren Blomquist, senior vice president at RealtyTrac. “So it’s not surprising to see the 10% gender gap in average home values between single men and single women homeowners; however, the slower home price appreciation for homes owned by single women demonstrates that less purchasing power is also having on a domino effect on their ability to build wealth through homeownership as quickly as single men.”
West Virginia had the largest gap between the average home value gain for homes owned by single men and average home value gains for homes owned by single women (72% higher), followed by Wisconsin (41 % higher), Alabama (40%higher), Maine (35% higher), and Minnesota (34% higher).
There were eight states where single women homeowners have realized bigger home value gains since purchase than single men homeowners, led by New York (30% more), New Jersey (29% more), North Dakota (22% more), Massachusetts (11% more) and Virginia (8% more).