Single women in New York City are getting their Peggy Olsen on and buying apartments of their own instead of waiting for that tired “marriage and picket fence fantasy” to come true.
Despite earning on average 76.5 cents for every dollar men make, women in New York are investing in homes at a greater rate than single men. According to the National Association of Realtors, single women make up 16% of homebuyers nationwide, with single men accounting for just 9%.
The growing gap is due, in part, to the rising number of women waiting until later in life for marriage — more so than their male counterparts. The average age at the time of first marriage for a female in the U.S. is now 27, up from 23 in 1990. The average age for men rose from 26 to 29 in the same period.
The NY Daily News profiled a group of women ages 28, 31 and 40 and their apartment purchases which ranged from $495,000 to $600,000.
Most of the women in the story note that it stopped making financial sense to spend $2000+ a month on rent versus putting that money towards a mortgage, which is so real. My rent in New York was higher than my dad’s mortgage on a home in the Seattle area. My dad’s house is much nicer than my apartment and you, know, he gets a house to keep at the end of it. These women all seem to be very well-employed, so something like a 20% down payment, as one the women paid, makes the purchases downright reasonable.
As with most cool shit that women do, many worry that their independence will scare off men. Pediatrician Tamar Magnas laments:
“Men are shocked and intimidated when I tell them I own my own apartment,” she said. “I’ve hurt myself by being a successful doctor and now I’ve hurt myself again by buying my own apartment. Success doesn’t always help women in the dating field.”
Well those guys sound like dumb losers because owning your own apartment screams: Hello, I am a stable, financially adept individual with a permanent roof over my head and no roommates. And did I mention I’m single?
If anything, its a bit surprising that single female home ownership in New York is a new trend. The city is full of successful, professional women who seem to firmly have their shit together. Or maybe that’s what I get for believing Mad Men.
Image via AMC