New Study Shows Double-Digit Gender Gap In Home Values
A new study from RealtyTrac has revealed a double-digit disparity in the home values of single men versus those of single women, not unlike the wage gap seen in the American workplace.
RealtyTrac’s report shows that single men own homes worth a full ten percent more, on average, than the homes of their single female counterparts. While this can be explained in part by the fact that America’s working women earn only 79 cents on the dollar for doing the same jobs men do – meaning women have less cash to purchase homes in the first place – there is more to the story.
According to RealtyTrac, male-owned homes are also appreciating in value at a faster pace than female-owned homes. In fact, male homeowners can expect their property values to increase by an average of $64,000 from the time they purchase to the time they sell the home. Female homeowners, on the other hand, can expect a lesser $53,800 in appreciated value over time. The report showed the widest gap in West Virginia, where single men had a shocking 72 percent higher average home value than single women.
Experts point out that this disparity in home value can have a lasting impact, even widening over time. Not only does it mean women have less ability to use their home’s equity to upgrade to a larger home or a nicer neighborhood, it also means they have less equity to help fund a comfortable retirement, pay for a child’s college education, or build wealth over the long-term.
Although the study’s averages showed women at a disadvantage overall, RealtyTrac found eight states where women had higher home value gains than men, including New York and New Jersey, with 30 percent and 29 percent gains respectively.
The study included 2.1 million unmarried homeowners across the United States.
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