It's no secret that women earn less than men - 19 percent less in 2015 according to the Bureau of Labor Statistics. But when it comes to real estate equity, is there a similar gender gap? To answer that question, RealtyTrac analyzed tax assessor data for more than 2.1 million single-family homes nationwide that were owned by single men (1,139,493) and single women (1,011,572). Here are the highlights of that national analysis:
- Across the U.S. homes owned by single men on average are valued at 10 percent more and have appreciated $10,112 (16 percent) more since purchase than homes owned by single women.
- The average estimated current market value of homes owned by single men was $255,226 — 10 percent higher than the average current market value of homes owned by single women: $229,094.
- Homes owned by single men have gained an average $63,921 since purchase, a 33 percent return on purchase price. That was $10,112 (16 percent) more than the average $53,809 gain since purchase for homes owned by single women, a 31 percent return on purchase price.
- Markets with biggest housing gender gap Average values of homes owned by single men were the highest above average values of homes owned by single women in the District of Columbia (14 percent higher), followed by Florida (12 percent higher) and West Virginia (12 percent higher).
- There were three states where the average values of homes owned by single women were higher than the average values of homes owned by single men: Massachusetts (11 percent higher), Kentucky (2 percent higher), and Kansas (1 percent higher).
- Average home value gains for homes owned by single men were highest above average home value gains for homes owned by single women in West Virginia (72 percent higher), Wisconsin (41 percent higher), Alabama (40 percent higher), Maine (35 percent higher), and Minnesota (34 percent higher).
Daren Blomquist, senior vice president at RealtyTrac, said that because women earn less than men, it should come as no surprise that there's a 10 percent gender gap in average home values between single men and single women homeowners. On the topic of appreciation, he said that the fact that single women have had slower home price appreciation demonstrates that less purchasing power is also having on a domino effect on their ability to build wealth through homeownership as quickly as single men.