Single People Struggle to Afford Housing More Than Married Couples: Report

Homes await buyers in Irvine, Calif., on Sept. 21, 2020. John Fredricks/The Epoch Times

Americans who are single face a tougher time paying housing costs than their married counterparts, with many of them more likely to skip meals to make such payments, according to real estate brokerage Redfin.

“Nearly 70 percent of single, divorced, or separated people struggle to afford their regular rent or mortgage payments, compared to just over half (52 percent) of married people,” the company said in a Feb. 5 statement. “Single people have a harder time affording housing payments largely because they’re typically using just their own income to pay for housing, while many married couples use two incomes.”

For instance, a one-bedroom monthly rental in the Washington, D.C., metro area costs $1,908, Redfin data show. While a single individual has to account for the entire amount, couples have the option to split it equally at $954 per person. This figures to a single person paying $11,448 more in rent costs annually.

According to a recent Redfin-commissioned survey, among respondents who were single, 63 percent had a household income below $50,000 a year. This number was at 69 percent among divorced individuals. In contrast, only 26 percent of married respondents reported a household income of less than $50,000.

As for household incomes of $100,000 or above, 29 percent of married respondents reported being in this group, far higher than those who are single (7 percent) and those who are divorced (6 percent).

In addition to higher household incomes, married couples are eligible for exclusive tax benefits, which creates better financial security.

According to the brokerage, single and divorced individuals were found more likely to skip meals in order to make housing payments, and non-married people were likely to borrow money from relatives or friends to pay for such costs.

“Married couples make up a smaller and smaller share of U.S. households, so it’s important to include single people living alone or with roommates when examining ways to ease the affordability crisis,” said Daryl Fairweather, chief economist at Redfin.

“People who aren’t yet married, or aren’t interested in getting married or living with a partner, often have to make more sacrifices to cover their housing costs than their coupled-up counterparts, which is one reason the government should consider zoning for single-room housing, like dormitories,” Fairweather added.

US Affordability Crisis

The affordability crisis in the housing market has largely been the result of factors such as high home prices and elevated mortgage interest rates.

According to data from the Federal Reserve Bank of St. Louis, the average sales price of homes sold in the United States in the first quarter of 2020 was $383,000. This increased by more than 33 percent to $510,300 by the fourth quarter of 2024.

A recent report from the National Association of Realtors showed that single-family existing home sales prices rose in 89 percent of the 226 tracked metros in the fourth quarter of 2024. This is up from 87 percent in the third quarter.

“Record-high home prices and the accompanying housing wealth gains are definitely good news for property owners,” said National Association of Realtors chief economist Lawrence Yun. “However, renters who are looking to transition into homeownership face significant hurdles.

“While recognizing many workers may not have the option to relocate, those who can or are willing to move may find more affordable conditions, especially given the wide variance in home prices nationwide,” he said.

As for rates, the average weekly rate on a 30-year fixed-rate mortgage has remained above 6 percent for more than two years, according to data from Freddie Mac. It is now hovering around 7 percent.

Kim Betancourt, vice president of multifamily economics and strategic research at Fannie Mae, said that consumers are “increasingly pessimistic” about housing affordability improving, with many expecting home prices and mortgage rates to move up.

“The lower optimism toward the mortgage rate outlook was largely expected, as rates have continued to stay elevated and even crossed the 7 percent threshold in mid-January,” she said.

“We currently expect mortgage rates to end 2025 around 6.5 percent, relatively little changed from where we are today, which will likely continue to hinder relief for housing affordability and home sales activity.”