More single women own their homes in Miami than most U.S. cities, study finds
Single female homeowners abound in Miami.
Miami landed in fifth place among the 50 largest U.S. metros with the most single female homeowners, according to a March study by LendingTree. The Miami metro area includes the City of Miami, Fort Lauderdale and Pompano Beach as well as Miami-Dade County, Broward and Palm Beach.
The Charlotte-based lending group analyzed U.S. Census data for owner-occupied units divided by gender, singles and married couples. The study was based on information from 2015 through 2019.
“Miami is more affordable than other large cities like Boston, New York and San Francisco,” said Tendayi Kapfidze, the study’s author and LendingTree’s chief economist. “Miami is not as dense like Seattle and San Francisco. It is more spread out and those cities tend to be more affordable.”
Tampa, Cleveland, New Orleans and Buffalo ranked first, second, third and fourth, respectively. New York fell below Miami, taking the 13th spot, and Atlanta ranked 31st.
While local housing prices have reached record highs this winter, Miami-Dade County’s Affordable Homeownership Program and the Federal Housing Administration’s down payment assistance program help many women afford their own digs, said Cordelia Anderson, the founder of the Miami-based brokerage firm I Heart Real Estate LLC.
OUR INTERACTIVE TOOL HELPS YOU FIND WHERE YOU CAN AFFORD TO BUY IN MIAMI-DADE
“Women are investing in themselves. They are thinking about their future and not necessarily saying that they have to be in a relationship or be married to buy a home,” Anderson said. “They want to secure their future and, if they have children, secure the future of their children. Real estate is one way to do that.”
Aspiring home buyers can prepare by saving each month to stockpile a down payment, said Ani Sanchez, a Realtor with One Sotheby’s International Realty.
Also important? A positive credit score and, Anderson said, a steady income.
