The Midwest is attracting more single and unmarried women who are choosing to put down roots and buy a home in the region, according to a new analysis by Owners.com. Cincinnati topped its list, followed by Kansas City, Kan., and Kansas City, Mo.
"There is a noticeable shift toward more single women entering the real estate market, particularly given lower unemployment rates, rising incomes, and the value placed on homeownership," says Phil Karp, senior manager of brokerage services at Owners.com. "Housing inventory remains low and costs are high throughout the country.”
Single and unmarried women have become a strong force in real estate, outpacing single and unmarried men in homeownership since 1981, according to data from the National Association of REALTORS®. In 2016, 17 percent of single and unmarried women were homeowners. That compares to only 7 percent of single and unmarried men who owned a home. NAR research indicates that these women place a high value on owning their own home near family and friends.
Owners.com analyzed 50 metro areas across the country, factoring in each city’s average home value, median income for women, annual crime rate, walkability and public transportation, and the price of dinner for two people. Here's what the study determined to be the 20 best places for single women to purchase a home:
1. Cincinnati-Wilmington-Maysville, Ohio: 15.2% (the share of single women homeowners)
2. Kansas City-Overland Park-Kansas City (Kansas and Missouri): 16.5%
3. Dallas-Fort Worth, Texas: 13.7%
4. Albany-Schenectady, N.Y.: 18.1%
5. Atlanta-Athens-Clarke County-Sandy Springs, Ga.: 15%
6. Milwaukee-Racine-Waukesha, Wis.: 16.9%
7. Hartford-West Hartford, Conn.: 16.2%
8. Minneapolis-St. Paul, Minn.: 15.1%
9. Raleigh-Durham-Chapel Hill, N.C.: 16%
10. Chicago-Naperville, Ill.: 15.9%
11. Philadelphia-Reading-Camden (Pennsylvania, New Jersey): 16.4%
12. Boston-Worcester-Providence (Massachusetts, Rhode Island): 16.5%
13. Washington-Baltimore-Arlington (District of Columbia, Maryland, Virginia): 15.9%
14. Portland-Vancouver-Salem (Oregon, Washington): 14.8%
15. Seattle-Tacoma, Wash.: 14.6%
16. Denver-Aurora, Colo.: 14.5%
17. Sacramento-Roseville, Calif.: 15.2%
18. New York-Newark (New York, New Jersey): 16.3%
19. Los Angeles-Long Beach, Calif.: 13%
20. San Jose-San Francisco-Oakland, Calif.: 13.7%
Source: Owners.com
