Nearly 60 percent of millennial singles say that homeownership makes a potential mate a lot more attractive, according to a new survey conducted by realtor.com®. Women were more likely than men to find homeownership attractive (48 percent versus 43 percent).
“Attractiveness is in the eye of the beholder, and this survey data suggests that many beholders find homeownership attractive, perhaps using it as a signal for financial savviness and success,” says Danielle Hale, realtor.com®’s chief economist. “Single millennials seem to find homeownership in a potential partner especially attractive, even if only one-quarter feels that it is important.”
Overall, 24 percent of 500 single respondents of all ages surveyed said they felt it was important for their partner to be a homeowner.
Homeowning folks are most likely to be found in the South and Midwest, the survey found. The greatest share of single male homeowners was found in Detroit, in which about 23 percent of all single males owned a home. Detroit was followed by St. Louis at 21.3 percent, Minneapolis at 21.3 percent, Cleveland at 21.2 percent, and Pittsburgh at 19.9 percent.
“These markets have a high volume of young people, and relatively low median listing prices,” realtor.com® notes in its study. For example, Detroit and St. Louis median list prices are $220,000 and $198,000, respectively.
Single women are one of the fastest-growing demographic segments in the housing market, according to realtor.com®. Homeowning females are likely to be found in Detroit, where 23 percent of single women own a home, followed by Baltimore (21 percent), Charlotte, N.C. (21 percent), Philadelphia (21 percent), and Minneapolis (21 percent).
“Strong job opportunities and growing economies that draw many young professionals to the areas are also helping keep them in these markets as homeowners,” realtor.com® notes in the study. “Affordable home prices have also helped singles achieve homeownership in these markets.”