Single women have made some serious strides toward homeownership in the last 15 years, according to a recent report from Zillow.
The real estate platform says the share of female renters who can afford a home has increased in 37 of the top 50 metros that Zillow analyzed, including Atlanta.
Women See Increased Buying Power In Atlanta, Says Report
The metro areas with the highest single female buying power rates are:
- Cleveland (29.5%)
- Cincinnati (26.9%)
- Atlanta (25.1%)
As great as the progress for women has been, none of the metropolitan areas analyzed by Zillow show them having more purchasing power than men.
For the most part, the challenges of getting equitable pay, affordable child care and other benefits, continue to play a role in gender disparities, according to Zillow.
Here are some key findings about Atlanta:
- 25.1% of single women renters can afford a home in Atlanta. That’s 7.9% their male counterparts.
- Single female buying power increased 4.5% since 2005.
- The gap between single men and women buying power has increased 4.5% over the past 15 years.
Zillow also estimates that nearly 2 million renter households could afford homeownership if given the flexibility to work from home and move into starter homes in cheaper locales.
Are You Saving For A Home?
Although homeownership is on the rise among women in Atlanta, many still aren’t in a position to afford it.
As many businesswomen that the city produces, it seems just as many of them aren’t able to get ahead.
Because you’ll need to save money incrementally, it’s good to put together a plan to set cash aside each month. How much should you save? It depends.
Looking for a new house? Here’s how to save for a home.
Final Words
Homeownership is one of the best purchases an American can make. In Atlanta, women are making strides in that regard.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.