Homes Owned By Single Women In Washington Worth Less Than Those Owned By Single Men
Single women in Washington state own homes that are worth less, on average, than ones owned by single men, according to a new report from RealtyTrac.
Homes owned by single women in Washington are worth about $9,000 less than homes owned by single men. Nationally, the gap is even bigger – about $26,000.
RealtyTrac Senior Vice President Daren Blomquist said the difference in home value reflects that women, on average, earn less. In Washington, according the National Partnership for Women and Families, women earn 23 percent less than men on average.
But Blomquist said one surprising thing is that homes owned by single women are also appreciating at a slower pace.
"The effect is a slower building of wealth through home ownership," he said.
That means women have less wealth in their homes to tap into, say, at retirement age, Blomquist said. He said one reason may be that the homes single women can afford to buy are perhaps in less desirable neighborhoods.
There are some states where homes owned by single women are worth more than ones owned by single men, including Massachusetts and Kentucky.