![Just 39% of Single Parents Own Homes Nationwide [New LendingTree Study]](https://realtytimes.com/images/15013717_s.jpg#joomlaImage://local-images/15013717_s.jpg?width=848&height=565)
Homeownership has long been seen as a path to lasting stability. But for single parents, that path can be riddled with obstacles — especially in certain parts of the country.
According to the latest LendingTree study, only about 2 in 5 single parents are homeowners. But in some U.S. metros, single parents are more than twice as likely to own a home as those in the most challenging metros. Here's what we found.
- Just 39% of single parents own a home, versus 74% of two-parent households and 65% of Americans overall. Single-parent homeowners spend 26% of their income on housing, while renters spend 41% — well above the recommended 30% threshold.
- Salt Lake City leads the nation in single-parent homeownership at 52%, followed by Minneapolis (48%) and Grand Rapids (48%). At the bottom are Los Angeles (24%), New York (27%), and Memphis, Tenn. (28%).
- Single-parent homeowners spend the smallest share of income on housing in Indianapolis, Louisville, and Raleigh, N.C. By contrast, ownership costs exceed 30% of income in Los Angeles (32%), New York (32%), and San Diego and Miami (both 30%).
- When it comes to renting, single parents in Kansas City, Mo., Louisville, and Nashville, Tenn., spend the smallest share of income on rent (36% to 37%). Meanwhile, renters in Miami (53%), Orlando, Fla. (48%), and Riverside, Calif. (47%), face the highest housing cost burdens.
You can check out the full report here: https://www.lendingtree.com/home/mortgage/single-parents-study/
LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say:
“Being a single parent often means doing the work of two adults while relying on one income, and that can make homeownership feel frustratingly out of reach. The homeownership gap between single-parent and two-parent households is a reminder of just how hard it can be to get ahead when so much of your paycheck is already spoken for. When the typical single parent is spending nearly 41% of their income on rent, it’s a lot tougher to save for a down payment and make the leap into homeownership.”
