Researchers have offered various theories to explain the discrepancy, including the fact that women statistically live longer—meaning some homeowners are single because their spouses passed away. Disproportionate caregiving responsibilities may also come into play. “They’re more likely to be single moms, and they’re more likely to be purchasing a multigenerational home,” Jessica Lautz, the National Association of Realtors’ chief economist, told The Hill. “So, they may have an elderly relative within that home as well.”
This was a factor for Aimee Lee Lucas, a real estate agent and single mother, who bought a home in Knoxville, Tennessee, in 2022. At the beginning of 2020, she was living in LA and found out that she was unexpectedly pregnant—and already in her third trimester. She decided to move to Knoxville, where her sister lived, to be closer to family. “My brother-in-law suggested I get into real estate, and after getting my license, selling my first properties, and absorbing all of that knowledge, I thought I was finally able to achieve homeownership,” Lucas says. She saved for about two years while living with her sister and raising her child. “It wasn’t always glamorous and I worked really hard, but I was really proud when I was finally able to buy.”
There could also be reasons that aren’t as easy to quantify. “I think a lot of women are prioritizing homeownership more because, for many men, it’s just assumed that at some point they’re going to own a home,” Chamberlain Collier, an attorney who bought her home by herself in 2023, says. It was only in 1900 that all US states recognized women’s property ownership rights, while topics of money and wealth have historically excluded females (women weren’t guaranteed the ability to open their own bank accounts until 1974). “For men, it might just be a next step for them at some point in their lives, whereas for women, we have to make a conscious effort.”
For Collier, financial reasons inspired her to buy a home. “It’s one of the safest ways to invest your money,” she says. “Property values usually go up, and rarely go down. Even in just a year and a half, I’ve gained a pretty substantial amount of equity in my home.”
Kaba also saw homeownership as a path to financial security and stability. “I originally wanted a multifamily home so I could rent out part of it, but that was very expensive, especially in New York” she says. Eventually she found a property in Bowie, Maryland. Though it was designed as a single-family residence, it had separate living and bathroom spaces across floors that made it possible to have a tenant. “My mom, who has never owned a home, was the one who first introduced me to the concept. She had the acumen of knowing that if you buy and have a tenant, that can help you pay your mortgage.”
