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As we begin Women’s History Month, new data shows just how women are spending and saving their money—and achieving their financial goals.
The good news is there are twice as many women who own their own homes today than there were 40 years ago.
But owning a home comes at a price some women were perhaps not prepared for.
The financial wellness of boomer women
No matter their age, women’s top financial resolutions for 2025, according to Fidelity Investments, are to save more money (46%), pay down debt (41%), and spend less money (33%).
According to the report, 57% of all women in the U.S. are prioritizing short-term savings goals over long-term objectives like retirement in the coming year, with mortgage payments being a key focus.
With that in mind, among women retirees, nearly half are currently working, have worked, or are thinking about working in retirement to achieve their financial goals, like paying off their homes.
Also, 50% of women who retired in 2024 took a phased approach to retirement by working part time, taking on less responsibility, or transitioning to more flexible work, compared with only 19% of women 20 years ago.
More of these retirees are “aging in place,” with 54% of boomer homeowners expecting to live in their house for the rest of their lives, according to a recent study done by Clever Real Estate.
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But why are they staying put?
Forty percent say it’s because they’ve got a fully paid-off mortgage; 25% claim they wouldn’t be able to afford a new home; 19% don’t want to lose community ties and friendships; and 16% worry they couldn’t pay the steep costs associated with an assisted-living or retirement community.
Even with all those factors in mind, 10% of millennials told Leaf Home—North America’s largest home improvement company—that older homeowners should downsize anyway to create more housing opportunities for young families. Still, younger women are finding their pathway to homeownership all the same.
Women homeowners are on the rise
Single-women first-time buyers grew from 11% in 1985 to 24% in 2024, according to the National Association of Realtors®.
“This shift can be attributed to several societal changes,” says real estate agent YK Kuliev, founder of Fast Home Buyer California. “Women today are achieving higher levels of education and career advancement, leading to greater financial independence. Additionally, changing societal norms have empowered women to prioritize personal and financial goals, including homeownership, without waiting for marriage or partnership.”
Single women own 2,719,923 more homes than single men, according to the U.S. Census Bureau data.
Denise Supplee, a real estate agent and co-founder of SparkRental in Doylestown, PA, has had many single female clients.
“I have found that they have been easier to work with,” says Supplee. “They tend to have much more flexibility in their home desires”—especially since they don’t have to compromise with a partner.
Single women own the largest share of homes in New Mexico, Mississippi, and West Virginia.
In New Mexico, 15.26% of owner-occupied housing units are owned by women who live by themselves. In Mississippi, it’s 15.07%, and in West Virginia, it’s 14.73%.
“Affordable housing markets like these make it more feasible for single individuals to purchase homes,” says Kuliev. “Cultural factors may also play a role, with community support systems encouraging and empowering women to invest in property.”
Will millennials and Gen X be able to afford mortgages when they retire?
Only 48% of millennials are likely to “enjoy stability through homeownership” in retirement—compared with 74% of Gen Xers and 75% of boomers, according to a Charles Schwab study.
“Several factors contribute to this disparity,” says Kuliev. “Rising property prices, significant student loan debts, and a competitive job market have made it harder for millennials to save for down payments and secure mortgages.”
But is owning a home in retirement a financial asset or a burden?
Boomers have been more comfortable than earlier generations with the idea of taking on a mortgage later in life, according to USA Today.
However, a recent study by the University of Michigan found that households with more mortgage debt tend to postpone retirement and spend less money once retired.
Generation X is nearing retirement, as the oldest members hit 60 this year—and some of them were lucky enough to secure low-interest mortgages during the COVID-19 pandemic.
On Reddit, Grunge4U, who locked in a 2.75% rate, said, “I’ll have my mortgage paid off just in time for retirement.”
That can be a huge relief for many, particularly for those worried about the collapse of Social Security.
In a recent survey, 73% of people told Bankrate they fear that Social Security benefits won’t be there for them.
Having a paid-off house can help alleviate some of those financial fears.
A house payment is “the largest recurring expense that people have,” wrote Bulldg4life on Reddit. “If it’s paid off, then your monthly expenses will plummet and you don’t have to worry about the most important thing to survive—shelter.”