As more homebuyers opt to buy a home without a spouse or partner, American homebuying patterns are shifting with the trend.
According to Pew Research, about 42 percent of Americans lived without a spouse or partner in 2017. That number is up three percent from a decade prior. For individuals younger than 35 years, more than 60 percent lived without a spouse or partner.
At the same time, marriage rates are declining—only half of American adults reported being married in 2017.
Shifting Trends
As a result, fewer homebuyers choose to wait for a partner before buying a house. This decision affects the types of properties they prefer and what they can afford.
“Household income will typically be one single wage rather than two,” observed Homes.com writer Cheria Brickhouse. The company recently released a list of cities that are best-suited for solo, first-time homebuyers. Brickhouse added that people buying alone are often relocating, “perhaps for work or maybe due to a lack of affordable homes in their current area.”
Of the 311 U.S. towns and cities with populations greater than 100,000, Homes.com analysts identified 20 cities that are the best for solo, first-time homebuyers. Readers should note that one of the criteria in the study included the availability of one-bedroom homes. Here are the top three.
Top 3 Cities for Solo First-Time Homebuyers
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Edison, New Jersey
Edison homes have a median price on one-bedroom homes of $65,000. Residents have a median monthly salary of $3,325.83. With monthly mortgage payments averaging $292, or 8.78 percent of the monthly salary, Edison solo buyers have a good chance at affording a home in this area.
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Overland Park, Kansas
Overland Park’s median single-bedroom home price is $70,000, with monthly mortgage payments around $315. This is just under 9 percent of the monthly median income for residents.
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Lafayette, Louisiana
Lafayette residents earn a median monthly income of $2,534, placing them in a great position to purchase a median-priced one-bedroom home around $57,000. Monthly mortgage rates are about $256, meaning residents will pay just over 10 percent of their monthly income toward their home loan.
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