More years of home ownership, instead of closing the gap, actually widen it, according to RealtyTrac. Among homes owned at least 15 years, those owned by single men were 17% higher at an average $288,912 than those owned by single women at an average of $240,166.
These same homes appreciated 145% for men, who gained an average of $170,765. This is $36,496 more than women, who receive a 127% return with gains of $134,269.
“Women earn less than men on average, 19% less in 2015 according to the Bureau of Labor Statistics, giving them less purchasing power when it comes to buying a home,” RealtyTrac senior vice president Daren Blomquist said.
“So it’s not surprising to see the 10% gender gap in average home values between single men and single women homeowners; however, the slower home price appreciation for homes owned by single women demonstrates that less purchasing power is also having on a domino effect on their ability to build wealth through homeownership as quickly as single men,” Blomquist said.
The gender gap for home values was the greatest in the District of Columbia at 14%. The gender gap came in second in Florida at 12%, followed by West Virginia at 12%, Wisconsin at 12%, Texas at 10% and Alabama at 10%.
There were only three states were home values for homes owned by single women were higher than those owned by single men: Massachusetts at 11% higher value, Kentucky at 2% and Kansas at 1%.
The opinions expressed here within are my own completely independent of BHGRE Coccia Realty and its owners and subsidiaries.
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Raymond Ciampaglia, Realtor®
Better Homes and Gardens Real Estate | Coccia Realty
424 Valley Brook Ave | Lyndhurst, NJ 07071
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