Using data from the 2016 Profile of Home Buyers and Sellers we can break down household composition, and the relationship it has to home purchasing choices.

  • Among all recent home buyers, 66 percent were married couples, 17 percent were single females, eight percent were unmarried couples, and seven percent were single males.
  • Three percent of recent buyers identified as gay or lesbian, and one percent identified as bisexual.
  • Among first-time buyers, 58 percent were married couples, and 71 percent of repeat buyers were married couples.
  • Among all home buyers, 83 percent purchased a detached single-family home, seven percent purchased a townhouse/row house, four percent purchased an apartment or condo.
  • Eighty-seven percent of married couples, and 85 percent of unmarried couples purchased a detached single-family home.
  • Married couple buyers were typically 44 years old with a household income of $99,200. They typically purchased homes that were a median of 2,010 sq. ft., for $255,000.
  • Unmarried couple buyers were typically 33 years old with a household income of $84,800. They typically purchased homes that were a median of 1,670 sq. ft., for $181,400.
  • Single female buyers were typically 50 years old with a household income of $55,300. They typically purchased homes that were a median of 1,520 sq. ft., for $173,000.
  • Single male buyers were typically 47 years old with a household income of $69,600. They typically purchased homes that were a median of 1,575 sq. ft., for $190,600.

For more information on how relationship status and household composition affects homeownership choices, check out the Homebuyer Households infographic, and the 2016 Profile of Home Buyers and Sellers.

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Source: Economy

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.


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This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.

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