Homes Of Idaho Women Gain Less Value Over Time Than Men’s Homes
You’ve probably heard of the wage gap. Women tend to get paid less than men for the same work. Now, a new report from the real estate information company RealtyTrac says that gap means women have less of a chance of developing wealth through home ownership.
Nationally when a single man buys a house, it’s on average 10 percent more valuable than when a single woman buys a house. But when they go to sell, that gap is even bigger. Homes of single men appreciate 16 percent more than those of single women.
In Idaho the gap starts much smaller, just 1 percent. But Idaho single men see their home value go up much more over time than Idaho women, according to RealtyTrac’s Darin Blomquist.
“[Idaho] single women have earned 86 percent return on their original purchase, which is a great return compared to the national average of 30 percent,” Blomquist says. “But that’s much lower than the return for single men home owners who have seen a return of 105 percent.”
Blomquist says they’re not sure why men’s homes appreciate more than women’s but they think it’s about neighborhoods. Since women have less to spend on the initial purchase, they not only buy cheaper houses, but they have to buy in less desirable areas where prices will go up more slowly.
Find Adam Cotterell on Twitter @cotterelladam
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