Where is the next market niche of buyers?
Who is the next group of home buyers going to be?
Very possibly, according to a recent survey, it will be single women.
Research shows that wage disparity is not stopping single women from getting into this market. They appear to be making the intelligent choice of buying a home.
According to data acquired from the US Census Bureau, the 2017 American Community Survey, it indicates that single women homeowners who live in metropolitan areas have become very proactive in the purchase of their owner-occupied homes.
One of the reasons why it seems that women are taking that big step is because American wage disparity between men and women has dwindled to just $0.20 less than the male counterparts.
Right now, according to a recent study, single women own about 22% of homes as compared to just 13% owned by single men.
In the 50 largest metropolitan areas, on average, single women own 70,000 more homes than single men.
New Orleans seems to top the list, where 27% of homes are owned by single women, as compared to single men, who only own 15%.
OVERALL
In general, the poverty rate has declined for the last few years, according to the US Census Bureau, in 24 states. Only in Vermont did it increase from 10.2% to 11.9%.
From 2015 to 2016, the poverty rate decreased in 17 out of the 25 most populous metropolitan areas. Poverty, interestingly enough, did not increase in any of these 25 most populated metropolitan areas.