Single mothers in the Philadelphia metro are more likely to own a home than in most other major metros in the country, writes Michaelle Bond for The Philadelphia Inquirer.
According to LendingTree’s analysis of Census Bureau data, in 2022, around 43 percent of single mothers in the Philadelphia region owned their homes. This ranked Philadelphia sixth behind metros to the west.
The Philadelphia region had a higher home ownership rate than the average 34 percent rate for the 50 largest metros.
High mortgage interest rates, low housing inventory, high home prices, and high childcare costs are among the factors making it difficult for single parents to own a home.
Additionally, women make less money than men and are less likely to get approved for loans due to societal bias and discrimination against single mothers.
“I don’t think it should be as much of a struggle to buy a home as a single mom as the data suggest it is,” said Jacob Channel, a senior economist for LendingTree and author of the report. “We as a society really have a long way to go to make things more equitable between folks of different genders.”
Read more about Philadelphia area home ownership among single mothers in The Philadelphia Inquirer.
