Many single women never think they will own a home


McLean, Va.-Based Freddie Mac has released a new consumer study that shows the uphill battle many single female heads of households face in becoming a homeowner, and the confidence of never being a homeowner is low for many.

McLean, Va.-Based Freddie Mac has released a new consumer study that shows the uphill battle many single female heads of households face in becoming a homeowner, and the confidence of never being a homeowner is low for many.

Research indicates that nearly 60% of single female heads of households feel that home ownership is out of reach indefinitely. Freddie Mac said his survey confirmed that this demographic has experienced rising housing costs and declining confidence in wealth creation over the past year.



“The COVID-19 pandemic has had disparate economic impacts nationwide, particularly on female heads of households, such as single mothers and caregivers,” said Pam Perry, Single Family Vice President of Fair Housing Freddie Mac.

It is not a small demographic. In 2020, 19.8 million single heads of household were single women.

The pandemic has meant that many mothers left the workforce during the pandemic for childcare, and Freddie Mac reports that 75% of women who dropped out of the workforce have not returned.

More than half of this group are considered “cost-burdened”, spending more than 30% of their income on housing. Single Hispanic and Black female heads of households are more likely to be burdened by the costs.

Reasons they don’t expect to own a home include lack of money for a down payment or closing costs, and 75% also believe a mortgage payment would be more than their rent or they earn. not enough for a mortgage payment.

Freddie Mac interviewed 2,000 single American female heads of households for his report, which is posted online.

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