National Homeownership Month is a time to celebrate the American Dream, a dream deeply rooted in the idea of owning a home. This year, I want to shine a spotlight on a group that's embracing this dream and redefining it: single women.
Homeownership, traditionally associated with couples and families, is increasingly becoming synonymous with female empowerment and independence. More than just a place to live, a home symbolizes stability, security and a legacy to pass on. For single women, it often represents a bold step toward self-reliance and financial freedom.
What does the data say?
The data paints a compelling picture: According to a 2023 Pew Research Study, single women now own 58% of homes owned by unmarried Americans, outpacing single men. This trend, which has steadily grown since the 1980s, has been highlighted in recent articles in The Hill and CBS News, underscoring the increasing importance of single women in the housing market.
NeighborWorks America’s data, while not designating "head of household," shows that in 2010, 53% of reported NeighborWorks Created Homeowners identified as female. In 2023, 57% of reported NeighborWorks Created Homeowners identified as female, an increase of 4%. Similarly, in 2010, 56% of reported NeighborWorks Preserved Homeowners identified
as female, in 2023, 62% of reported NeighborWorks Preserved Homeowners identified as female, an increa
se of 6%.
The road to homeownership isn't always easy, especially for single women and even more so for women of color. They may encounter challenges, such as the perisistent gender wage gap. However, their determination and resilience shine through, making their achievements all the more remarkable.
Owning a home is part of the American Dream because it offers financial stability and the chance to excel and help us see and build toward a brighter future. Countless women, especially women of color, find that owning a home brings a sense of pride, the opportunity to build wealth, and a lasting impact on their lives.
Owning a home is part of the American Dream because it offers financial stability and the chance to excel and help us see and build toward a brighter future. Countless women, especially women of color, find that owning a home brings a sense of pride, the opportunity to build wealth, and a lasting impact on their lives.
Take, for example, Keisha, who participated in a house-sharing program in Baltimore. "I was a single woman with bills," she says. "I thought: 'I can help someone while they help me.'"
Or Catrina, who now owns her own home in Cleveland, Ohio, where she feels secure, finally has privacy and a home that she says is "just right." Molette, a single woman and a veteran, offered this take: "Being able to be in a home-- it feels amazing. This is mine. No one can take credit or take it from me."
The resources that NeighborWorks America and NeighborWorks network organizations offer across the country, including homebuyer education and financial counseling, are essential tools that help women overcome obstacles to homebuying.
Where does NeighborWorks come into play?
For 45 years at NeighborWorks America, we’ve believed and continue to believe that everyone deserves the opportunity to achieve the American Dream of homeownership on their own terms. We're dedicated to providing single women with the tools and support they need to succeed, including comprehensive education, personalized counseling and access to affordable housing options. These resources can be transformative, providing the knowledge and confidence to navigate the homebuying process successfully.
This National Homeownership Month, we celebrate the spirit and strength of single women who are rewriting the stories around homeownership. Their journeys are a testament to the enduring power of the American Dream and the resilience of those who pursue it.
