PROVIDENCE – The capital region, including Cranston, Warwick and New Bedford, has the third-smallest gender homeownership gap among large metropolitan areas in the United States, according to a study released Aug. 5 by Porch.com.
The home-improvement website based in Seattle analyzed data from the U.S. Census Bureau’s 2020 American Community Survey, the most recent data available, and calculated the percentage-point difference between the single-female homeownership rate and the single-male homeownership rate in large, midsize and small metros throughout the country. For the purposes of the study, single females and males were limited to those 18 years and older, not currently married (widowed, divorced, separated were considered single), and without children living in the same household.
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The analysis found that the homeownership rate among single women in the Providence metro is 49.14%, compared with 45.92% for single men, resulting in a homeownership gap of 3.22 percentage points. The median property value for both single women and single men in the area is $250,000.
Nationally, the homeownership rate among single females is 54.04%, compared with 48.39% for single males, with median property values the same at $175,000.
Minneapolis-St. Paul-Bloomington, Minn.-Wis., had the smallest gender homeownership gap among large U.S. metros at 1.05 percentage points. The analysis found that the homeownership rate among single females there is 53.39%, compared with 52.34% for single males, with median property values at $200,000 for each.
The Buffalo-Cheektowaga, N.Y., metro had the second-smallest gender homeownership gap among large U.S. metros at 3.1 percentage points. The analysis found that the homeownership rate among single females there is 54.47%, compared with 51.37% for single males, with a median property value of $125,000 for single women and $126,000 for single men.
The Indianapolis-Carmel-Anderson, Ind., metro had the fourth-smallest gender homeownership gap among large U.S. metros at 3.27 percentage points, and the St. Louis, Mo.-Ill., metro had the fifth-smallest at 3.72 percentage points.
The San Jose-Sunnyvale-Santa Clara, Calif., metro had the largest gender homeownership gap among large U.S. metros at 10.99 percentage points. The analysis found that the homeownership rate among single females there is 49.22%, compared with 38.22% for single males, with a median home price of $900,000 for single women and $875,000 for single men.
The Boston-Cambridge-Newtown, Mass.-N.H., metro had the 16th-smallest gender homeownership gap among large U.S. metros at 5.19 percentage points. The homeownership rate among single females there is 47.06%, compared with 41.87% for single males, with a $375,000 median property value for both.
The study can be found here.
