Skip to main content

The Metro With the Most Single Mother Homeowners Is …

Jun 24, 2019
Photo credit: Getty Images/Nastia11

Less than one-third of single mothers nationwide are homeowners, according to data released by Redfin.
 
Citing housing market statistics from 2017, the most recent year available for review, Redfin determined that 31.1 percent of single mothers owned their own homes, roughly equal to the 2016 rate but down from 35.5 percent in 2010. In comparison, the overall national homeownership rate is now at 63.9 percent and was nearly 70 percent in 2010.
 
The four metros with the highest rates of homeownership among single mothers were McAllen, Texas at 46.6 percent; followed by Salt Lake City (41.7 percent); Grand Rapids, Mich. (41.5 percent); and Minneapolis (40.3 percent). The four metros with the lowest rates for single mother homeownership are all in California: Fresno (20.5 percent), Los Angeles (20.7 percent), San Diego (22.4 percent) and Bakersfield (22.6 percent).
 
“Although more single moms have entered the workforce since 2015, thanks in part to a growing economy, single mothers haven't yet been able to gain increased wealth through equity from homeownership,” said Redfin Chief Economist Daryl Fairweather. “That's because in many expensive metros, single moms aren't able to access the benefits of homeownership due to a lack of affordable homes for sale. But in areas like Salt Lake City and Minneapolis, single moms are better able to afford a home without a dual income or financial support from a partner. Beyond being a primary source for building wealth, owning a home can provide some necessary stability for children because homeowners have predictable monthly mortgage payments and don't have to worry about a landlord raising rent or selling their home.”

 
About the author
Published
Jun 24, 2019
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024
CMG Acquires Norcom Mortgage's Retail Side

The 25-branch addition will enhance CMG’s northeastern presence from Maryland to Maine.

Apr 12, 2024
CFPB Weighs Title Insurance Changes

The agency considers a proposal that would prevent home lenders from passing on title insurance costs to home buyers.

NEXA Begins Search For New CFO

NEXA CEO retires the president position after Mat Grella's termination.

Apr 01, 2024
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024