Mar 7, 2024 - News

Women are winning real estate in Indiana

Share of housing units owned and occupied by single women, 2022
Data: LendingTree; Map: Alice Feng/Axios

If the future is female, then we're there, baby — or real estate is, anyway.

The big picture: Sixty years ago, women couldn't get a credit card or mortgage without a male co-signer.

  • Now, the nation's share of single women homeowners eclipses that of single men, and overall homeownership is majority female, Axios' Brianna Crane writes.

Why it matters: The gender pay gap and inequitable caregiving responsibilities have historically served as barriers for women.

  • But the rise in homeownership accompanies a strong shift toward women-led households, both single and married, Urban Institute researcher Jung Hyun Choi tells Axios.
  • In 1990, fewer than a third of total households reported being headed by female breadwinners. In 2021, most households (51%) did.

Zoom in: Census data show nearly 13% of homes in Indiana are owned by single women, compared to 11% by single men, per LendingTree.

State of play: Solo women mortgage applicants made up 18% of the U.S. market in 2023, a share that's slowly grown since mortgage platform Maxwell started tracking applicants' gender and marital status in 2021.

  • One in three women with partners bought alone because they were in a stronger financial position to do so, Maxwell's annual Single Women Home Buyer Report found.

The intrigue: In most age groups, women outnumber men.

  • Maxwell's report shows Gen Zers and millennials made up the largest share of single women mortgage applicants in 2023.

The other side: Opportunity isn't equal. Single Latina and Black women have the lowest ownership rates of any group in the U.S., Axios' Astrid Galván reports.

  • Single women with children also face low ownership rates compared with other groups, including single men with children, Choi's research shows.

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