Tour of the 5 Top Cities for Solo Home-buyers

Home buying isn’t exclusively for couples – a subset of single home-buyers keeps growing throughout the U.S. and they are competitive players in the current housing market. Millions of singles are out there and they too would like a piece of the American Dream-home ownership.

Realtor.com reports that in 1960, one-person households comprised 13% of U.S. households; by 2017 that figure rose to 27.9%. While the actual number of singles is significantly higher, as these figures don’t include single parents with children. RE/MAX analyzed data from the October 2018 RE/MAX National Housing Report, combined with the share of mortgages obtained by singles, in accordance with mortgage processor Ellie Mae, to rank the five most favored U.S. cities for singles. Even though Tampa did not make this list, we know that Tampa has an abundance of single home buyers.

Tour of the 5 Top Cities for Solo Home-buyers

Cleveland, Ohio

Median sales price: $148,000 (October 2018)
Share of mortgages taken out by singles: 48.8% (August 2018)

Couples aren’t the only ones buying homes in Ohio’s largest metropolitan area. Having a median sales price well beneath the RE/MAX National Housing Report average of $236,000 (October 2018), up to 50 % of all recent mortgages in The Rock & Roll Capital of the World belong to singles. Cleveland boasts a number of the Midwest’s most visited attractions, such as the Rock & Roll Hall of Fame, Pro Football Hall of Fame, the “A Christmas Story” home, Cedar Point Amusement Park and the Cleveland Museum of Art.

Albuquerque, New Mexico

Median sales price: $190,000 (October 2018)
Share of mortgages obtained by singles: 51.3% (August 2018)

Albuquerque is renowned for authentic art, hot air ballooning, vibrant traditions along with a popular spot for homes purchased by the unhitched. Ellie Mae reported earlier this year that more than 50% percent of recent mortgages in the city were taken out by singles. Visit Albuquerque says whether you’re taking a scenic hot air balloon flight over the city, playing a round at one of their award-winning golf courses, mountain biking in the Sandia foothills, hiking through history, kayaking the waters of the legendary Rio Grande or strolling through Old Town, you’ll find Albuquerque offers a real breath of fresh air.

Detroit, Michigan

Median sales price: $182,950 (October 2018)
Share of mortgages obtained by singles: 49.5% (August 2018)

Detroit is America’s comeback city and single home-buyers are part of the reason behind the area’s resurgence. Having a median sales price of $182,950 (October 2018), more than $50,000 under the October 2018 RE/MAX National Housing Report average for the same month, up to 50 % of all homes in the Motor City are being snatched up by singles. Metro-Detroit covers nearly 2,000 square miles and provides so much to see and do. From the Motown Museum to the Detroit Opera House, Charles H. Wright Museum of African American History to the Michigan Science Center, Motor City has a lot of offer.

Milwaukee, Wisconsin

Median sales price: $208,000 (October 2018)
Share of mortgages obtained by singles: 44.9% (August 2018)

“Schlemiel! Schlimazel! Hasenpfeffer Incorporated!” Laverne and Shirley loved living in Milwaukee and so do a great number of bachelors and bachelorettes. Nearly 45% of homes purchased recently were bought by singles, putting down roots and obtaining the American dream of owning their own home. Milwaukee is referred to as the “big city of little neighborhoods” because of its unique areas and one-of-a-kind charm. The Milwaukee Art Museum, Harley-Davidson Museum and Summerfest, promoting itself as “The World’s Largest Music Festival,” are just a couple of the city’s most popular destinations.

Pittsburgh, Pennsylvania

Median sales price: $159,500 (October 2018)
Share of mortgages obtained by singles: 43.8% (August 2018)

Well-paying tech jobs from corporations like Amazon and Uber, to name a few, are attracting singletons from all corners of the country to Pittsburgh. Having a median sales price of more than $70,000 below the RE/MAX National Housing Report average of $236,000 (October 2018), unmarried millennial’s are gobbling up homes in the city’s charming historic districts. Pittsburgh is renowned for its Gilded Age sites such as the Carnegie Museum of Natural History, the Carnegie Museum of Art as well as the Phipps Conservatory and Botanical Gardens. And don’t forget about the Andy Warhol Museum-home to the largest collection of Warhol art and archives in the world, and the breathtaking Duquesne Incline.

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.

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