Accumulating a down payment is a struggle—and even more so for singles, according to a new report.
Singles are facing more than 10 years of saving, assuming they make a 20 percent down payment on a median-priced property, an analysis by Zillow reveals. Conversely, couples can do it in half the time: 4.6 years.
In addition, buyers have limited options when solo: 45 percent of inventory, compared to couples, who can afford 82 percent of supply.
“Nearly two-thirds of Americans agree that buying a home is a central part of living the American Dream, but for unmarried or un-partnered Americans, that dream is increasingly out of reach,” says Aaron Terrazas, senior economist at Zillow. “Single buyers typically have more limited budgets,…