The Best Market for Single Homebuyers Is...

Aug 20, 2018

While the American Dream is often framed as bringing families into a home of their own, more than a few single people without kids are also in pursuit of residential property: one-person households make up roughly 28 percent of the population.

In a new data analysis by Realtor.com, the housing markets in the nation’s 100 metro area were studied for the percentage of one-person households, with a focus on the number of mortgages taken out by this demographic and a consideration of professional and leisure opportunities that would make the market attractive to those without spouses or children.

According to Realtor.com, Springfield, Mass., was the top market for single homeowners, with 52.4 percent of mortgages taken out by singles in a market where the median list price is $265,100. Cleveland, with a 48.8 percent share of mortgages taken out by singles and a median list price of $181,600, ranked second, while New Haven, Conn., placed third with a 52.4 percent share of mortgages taken out by singles and a median list price of $279,100.

Rounding out the top five of the list were Buffalo, N.Y., where 46.2 percent of mortgages went to single people in a market where the median list price is $190,000, and Albuquerque, N.M., where 51.3 percent of mortgages went to singles in a market with a median list price of $252,100.

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Phil Hall

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Aug 20, 2018

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