LOS ANGELES — The number of single women homeowners has dropped more than 4% since 2021, a figure experts believe could widen as tech layoffs mount and fewer women return to the workforce after the COVID-19 pandemic.

According to Zillow, the homeownership rate for single women in the nation dropped to 24.5% in 2022 after growing to 28.6% in 2021.

What You Need To Know

  • A new Zillow report found that single women homeownership dropped 4% from 2021 to 2022

  • The report, released last week, said the decline wiped out almost half the gains women made since 2016

  • Historically, women face several hurdles when it comes to purchasing a home, including lower salary and caregiving responsibilities

  • In 2021, single women homeownership accounted for 18% of homeowners in the U.S., the second-largest group behind married couples 

Zillow officials said the decline wiped "out almost half the gains made since 2016 when single women's homeownership was at an all-time low of 19.4%."

At the same time, officials said the homeownership rate for single men increased by 2.7% in 2022 to 33.1%.

Zillow chief economist Skylar Olsen said as women returned to work after the first year of the pandemic, the single women's homeownership rate took a hit in 2022. 

"Single women had made great strides in narrowing the homeownership gap, but the pandemic reminded us that progress is not always linear," Olsen stated in a news release. "With rising and volatile mortgage rates furthering affordability challenges, the road to affordable homeownership remains an uphill battle, and it may take creative solutions or even doubling up in a home to achieve that dream."

Zillow did not return a Spectrum News message seeking further comment. 

The report comes as major tech and media companies lay off their workforce, with nearly half being women. 

The Washington Post reported that women made up 46% of all tech employees laid off from their companies despite only representing 39% of the entire tech workforce.

Before the pandemic, women already faced several homebuying challenges. Historically, women earn less than men, about 82 cents for every dollar, and often leave jobs to care for their children, parents or other caregiving responsibilities. 

"As a result, young single women have fewer options when it comes to affordable home listings than young single men," the Zillow report read.

Still, the National Association of Realtors in 2021 found that single women accounted for 18% of homeowners, second only to married couples, which had a rate of 66%. Single men, meanwhile, accounted for 8% of homeowners. 

According to Zillow, single women have better opportunities to purchase an affordable home in Pittsburgh, St. Louis or Detroit. Those areas have the highest share of affordable listings. Zillow defined a home "affordable" if the estimated mortgage payment on the listing takes up no more than 30% of income.

Zillow officials said Cincinnati, Kansas City, Oklahoma City, Minneapolis, Jacksonville and New Orleans see the largest gender-based disparity in housing affordability, with single women able to afford fewer than 70% of the homes that single men can afford.

Meanwhile, Los Angeles, San Diego and San Francisco have the least affordable homes for single women, who could only afford 0.1% to 0.3% of active listings.