Relationship Status

Relationships & Homeownership

Using data from the 2014 Profile of Home Buyers and Sellers and 2013 Home Features Survey we can break down household composition, and the relationship it has to home purchasing choices.

Relationship Status

Married Couples:

Married couples had a median age of 43, whereas for married first-time buyers this was 31 and for married repeat buyers 51. Married couples made a median income of $98,300. For married first-time buyers the median household income was $79,400 and for married repeat buyers $107,800. For married couples, the median size of the home purchased was 2,090 square feet. The median price paid for their homes were $240,000.

Single Females:

Single female home buyers had a median age of 52. For first-time buyers the median age was 33, and for repeat buyers 58. For all single female homebuyers, the median household income was $54,800. For first-time buyers the median household income was $47,900 and for repeat buyers $60,600. For single females the median size of the home purchased was 1,500 square feet. Single females paid a median price of $153,600 for their home.

Single Males:

Single male home buyers had a median age of 47. For single males who were also first-time buyers the median age was 31, and for repeat buyers the median age was 56. Single males earned a median household income of $65,800, with first-time buyers earning $60,100 and repeat buyers earning $71,800. Homes purchased by single males had a median size of 1,570 square feet. Single males paid a median price of $173,700 for their home.

Unmarried Couples:

Unmarried couples had a median age of 33, with 28 for first-time buyers and 46 for repeat buyers. Unmarried couples earned a median household income of $80,800, with first-time buyers earning a median household income of $68,300 and repeat buyers earning $97,200. Unmarried couples purchased homes that had a median square feet of 1,640. The median price unmarried couples paid for their homes was $186,600.

 

For more information on how relationship status and household composition affects homeownership choices, check out the Relationships & Homeownership Infographic, the 2014 Profile of Home Buyers and Sellers, and the 2013 Home Features Survey.

Comments
  1. Not surprising the numbers show that couples whether married or not, first time buyer or repeat buyer clearly have higher median incomes than either single females or males and tend to purchase homes with with higher square footage and median price. However the age of unmarried couples is younger than the other three categories: married couples, single females or single males. This is a target audience I suggest we should market to in order to meet their demands. With a median price point of $186,600 they are poised to take advantage of both new and resale properties. The key is to identify what their needs are and identify the communities that meet those needs. This article helps identify an opportunity in our respective areas. Good luck!