By many measures these days, it can be tough to be a woman.
Yet single women have been making gains in one significant area: purchasing homes and condos. That, some market observers have noted, can help women independently build equity — or could even change the way that homes are designed and built.
Two years ago, the Philadelphia metro area ranked in the top 10 places in the U.S. where it’s easier for women to buy homes without a co-signor, a study released this week found. According to SmartAsset, a financial technology company, the Philadelphia metro area was the eighth most popular region for women to buy homes in 2017. That year, the Southeastern Pennsylvania region was the largest metro area to reach the top, SmartAsset said, with 5,092 women purchasing homes without co-signors.
Still, SmartAsset found, men without co-signors purchased homes in the region slightly more frequently, with 5,739 men purchasing a property that year.
The study’s researchers found only one metro area out of the 402 that were analyzed where women without co-signors purchased homes more frequently than men: Ithaca, NY.
The study was based on data from the Consumer Finance Protection Bureau’s Home Mortgage Disclosure Act (HMDA) database and analyzed mortgages that were secured without a co-signor and by first lien. Using HMDA definitions, SmartAsset defined the Philadelphia metro to include Philadelphia and Delaware Counties.