For numerous Americans, owning a home is a momentous achievement. According to previous findings, single women have a higher homeownership rate than single men. However, a recent investigation revealed that women are investing considerably more money in their homes than men.

By examining information from the Consumer Expenditure Survey of the U.S. Bureau of Labor Statistics, LendingTree conducted an analysis to contrast the spending habits of men and women. Our investigation assessed multiple categories, and it was apparent that a gender discrepancy exists in the housing market, particularly regarding housing expenses.

According to our research, women, on average, expend 1.29 times more (in terms of total expenses) on their owned residences, encompassing mortgage interest, property taxes, home insurance, and additional expenditures. A more detailed examination shows that women pay 1.20 times more for property taxes, 1.11 times more for housing expenses, and 1.09 times more for mortgage interest and fees than men.

Conversely, men allocate 1.12 times more expenses (in terms of total expenditures) toward leased residences, covering rent, parking fees, maintenance, and other correlated costs.

LendingTree’s senior economist, Jacob Channel, pointed out several causes that hinder women from owning a home, primarily related to personal priorities, which result in more financial obstacles for them.

According to Channel, although the motives behind their financial decisions will differ from person to person, some evidence indicates that women prioritize owning a home more than men and are more willing to make compromises to achieve that goal. This might clarify why single women typically spend more on their owned homes than single men, despite potentially having lower incomes. Conversely, men might be less inclined to undertake the responsibility of purchasing a home, making them more inclined to allocate additional resources toward a comfortable rental.

Channel also mentioned that there is some evidence to support the notion that women place a higher priority on owning a home than men and are more willing to make concessions to achieve this goal. This phenomenon might explain why single women, despite potentially earning lower incomes, tend to invest more in their owned homes than single men and why they are more likely to be homeowners.