Who Needs A Ring?

Woman holding a key

Single ladies are too busy grabbing the keys

Kristin Marshall
By Kristin Marshall, Broker RE/MAX Key Properties

First published in the Source Weekly

It wasn’t until 1974 that women were allowed to apply for and own a credit card or a mortgage in their name. That was just 50 years ago, ladies! Since that year of “women’s mortgage liberation,” so much has changed. Today, the share of single women homeowners surpasses that of single men.

Here are some interesting statistics about single women:

  • Single women mortgage applicants made up 18% of the market in 2023, according to Maxwell.
  • One in three women with partners bought alone because they were in a stronger financial position to do so, according to Maxwell.
  • Single women own an average of roughly 13% of the owner-occupied homes across the 50 states, versus 10.2% among single men, according to LendingTree.
  • Gen Zers and millennials made up the largest share of single women mortgage applicants in 2023, according to Maxwell.

In today’s world, single women are rewriting the rules of homeownership, one property at a time. It’s a trend fueled by financial savvy, cultural shifts and confidence.

Are you a single lady wanting to purchase a home? Let’s do it!

The most important thing you can do with your finances as a single female buyer is to speak to a lender early to make sure everything is in order prior to finding your dream home. It’s also important to remember that as a single woman you only have one income to make home ownership work. That single income will need to cover qualifying for your home loan, making a down payment and making your monthly loan payment. There may be expenses down the road that you may want to plan for, such as a new roof or new appliances.

Be mindful that this doesn’t have to be your forever home. Your first purchase as a single woman could be a stepping stone to your next property, or even work as a rental and income-generating asset in a few years after you’ve built some equity and moved into another home.

Choosing a home with high resale value will help you move forward financially. Perhaps it’s a home that isn’t very custom but close to good schools, moderately priced and a great layout. Don’t get caught up in the walk-in closet or granite kitchen island. Pick a home that’s built to last and built to sell.

Financial independence is the cornerstone of this movement. With more women taking control of their finances, the idea of waiting for a partner to buy a home seems antiquated. But it’s not just about dollars and cents — it’s about embracing a new mindset. In a world where marriage isn’t the end-all, be-all, single women are redefining what it means to live happily ever after.