The journey of homeownership is a significant milestone for anyone, but there’s a unique adventure awaiting those who take this path alone. Traditionally, many wait until they are married or in a committed relationship to invest in real estate, but some Gen Zers and Millennials are deciding to take the plunge solo.
At All Star Home, we analyzed U.S. Census Bureau data to determine which U.S. states have the most single homeowners. We also surveyed single Gen Z and Millennial homeowners to see how they feel about owning and maintaining a property on their own.
Ranking States with the Most Single Homeowners
The number one state for single homeowners across the entire United States is Mississippi. Neighboring state Louisiana came in at number two followed by New Mexico (#3).
According to our analysis, a significant amount of single homeowners own properties in the South. Other southern states in the top ten include Georgia (#4), Alabama (#5), South Carolina (#7), and Florida (#10).
While New Mexico and Nevada ranked third and fourth respectively, fellow four-corner state Utah is last on the list with the least single homeowners per capita.
A significant portion of states in the North and Midwest also land in the bottom ten. North Dakota (#41) and South Dakota (#47) as well as Montana (#46), Wyoming (#48) and Idaho (#49) have some of the least single homeowners in the country.
States With the Most Single Homeowners by Gender
When you break down the rankings by gender, many of the states with the most single women homeowners are the same as the states with the most single homeowners overall.
Mississippi, Louisiana, Georgia, Alabama, and South Carolina rank in the top five for the states with the most single women homeowners per capita.
As for the men, Nevada is the number one place for single property owners followed by New Mexico and Arizona. But interestingly, some of the other states that rank for the most single homeowners who are men, do not align with the overall list.
Most notably, North Dakota ranks #4 in the list of states with the most single men homeowners, while North Dakota is #41 on the overall list. Similarly, Alaska is #8 on the list of states with the most single homeowners who are men but sits at #35 on the overall list.
California, Louisiana, Oklahoma, Kentucky, and Michigan help round out the top ten states with the most single men homeowners.
Top 5 Reasons Single Homeowners Buy a Home
We also surveyed Gen Z and Millennial single homeowners to learn more about how and when they were able to purchase their properties. According to respondents, the average age people purchased their first home was 28, and 70% envisioned themselves as a single homeowner. The top reasons for purchasing their own home:
- Wanting to own their own property
- Having a space to make their own
- Rising cost of rent
But buying a home solo isn’t cheap. The average purchase price of the home was $208,469 with an average down payment of $41,525. Over 2 in 3 were able to make this financial investment without any outside help, but 32% needed some assistance.
For those who needed financial help, the top sources of aid came as a gift or loan from family, or from a government program. The average financial gift from family was $41,819!
Top Financial Worries of Single Millennial and Gen Z Homeowners
But purchasing a home is just the start of a homeowner’s journey and there are plenty of obstacles that can pop up when it comes to maintenance and upkeep.
Almost 2 in 3 single Gen Z and Millennial homeowners are concerned about covering expenses by themselves, and 1 in 2 say expenses are harder to cover in 2023. Top concerns include paying the mortgage and property taxes, having an emergency fund, and affording utility bills and insurance.
While affording a home can be difficult, so can figuring out how to maintain a property. 63% of single homeowners are worried about home maintenance. Homeowners are most worried about fixing plumbing issues, cleaning gutters, pest control, replacing HVAC filters, and mowing the lawn.
2 in 5 single homeowners wish they had someone to share home costs and maintenance with and weren’t going at it alone. Despite having gotten the keys to their own property, more than half of homeowners believe becoming a single homeowner is unattainable for Millennials and Gen Zers in 2023.
While the journey can be a bit more challenging as a single homeowner, remember that independence and determination can lead to a fulfilling life! A home is more than a property. It’s a place to build your life story and owning a home solo can be an incredible opportunity for self-discovery, personal growth, and creating a space that is uniquely your own!
Methodology
In August 2023, we analyzed data from the U.S. Census Bureau’s 2021 American Housing Survey. We analyzed the number of “male householder, no spouse present” and “female householder, no spouse present” in the “other family” “household type” for each U.S. state.
In August 2023, we surveyed 309 Gen Z and Millennial homeowners who listed their relationship status as “single,” “widowed,” “divorced,” “separated,” or “never married” about their experiences as single homeowners. Respondents were 61% male, 37% female, and 2% non-binary. Respondents ranged in age from 18 to 42 with an average age of 33 years old.
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