One Person Households Doubles


The number of one-person households in the US doubled in the last 40 years, rising to 36.1 million in 2020 from 18.2 million in 1980. Of that group, 19% identify as members of the millennial generation, while another 19% belong to Gen X. About 39% of sole-person households identify as baby boomers and 3% as Gen Z. With mortgage rates remaining low, plenty of singles are seeking homes. Often, they are scraping together down payments on their own, so they are looking for more affordable properties. But, as the number of single people looking to put down roots is rising, the pool of available options is shrinking. The supply of entry-level housing, which Freddie Mac defines as homes up to 1,400 square feet, is near a 5-decade low. i-Buyer programs, institutional and individual investors are competing with first-time buyers elevating prices and diminishing inventory. (WSJ)

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