A new data analysis
released by Redfin has determined that gender disparity exists in home equity, with single women earning 92 cents for every dollar of home equity earned by single men.
Redfin studied nearly 200,000 home sales in 18 of the largest metros in 2012, of which 39.9 percent were purchased by single women. That study found women earned a median $171,313 of home equity over five years compared to $186,403 of equity earned by men—a difference of $15,090 or 8.1 percent.
New Orleans was the only metro in the study where women earned more home equity than men: single women in the Big Easy earned $8,784, or eight percent, more home equity than single men over five years. Omaha, Neb., came closest to gender equality, with women earning 0.5 percent less equity than men. The gender equity gap was greatest in Seattle, where women earned 6.3 percent or $20,983 less equity over the five-year period.
“Despite differences in equity appreciation, purchasing a home can help level the playing field between men and women,” said Redfin chief economist Nela Richardson. “Homeownership remains the single biggest engine for middle-class workers to create wealth over the long term. In addition to setting labor standards that encourage pay equity, more can and should be done at the federal and local levels to support female homeownership through affordable housing policies like down payment assistance.”