Who needs a spouse to buy a first house? Not too many folks anymore.
According to new research from Zillow, only 40 percent of first-time homebuyers are married today, down from 52 percent in the late ’80s.
Why is this? First, fewer people are getting married in general. Barely half of adults (51 percent) were married in 2011, according to the Census Bureau’s American Community Survey data, compared with 72 percent in 1960. Marriage increasingly is being replaced by cohabitation, single-person households, and other living arrangements (mom and dad’s house!).
They’re also waiting longer to get married—the median age for first marriage is now 27 for women and 29 for men, up from 20 for women and 23 for men back in 1960, according to new Pew Research Center analysis of census data.
This real estate trend is showing up in the Dallas-Fort Worth market. One example: ReMax Realtor Ken Lampton says he has a lot of unmarried professional women buying in the Lakewood and Lower Greenville areas of Dallas.
“They don’t have children, so schools aren’t a concern, and they are willing to buy a smaller house in order to be closer to downtown Dallas,” Lampton said.