Earlier this month, the Senate passed a bipartisan housing bill focused on improving housing affordability, primarily by increasing supply. This includes streamlining construction development and banning the sale of single-family homes to investors who already own at least 350 homes.
With that in mind, let’s talk about some of those single-family homes, starting with the role investors play in the market.
Investors and single-family home rentals
Investors, both large and small, purchased one-third of all single-family homes sold in the second quarter of 2025. This was a 27% increase from the previous quarter and the highest percentage in five years. Currently, investors own about 20% of the single-family homes in the country, but about 90% of those homes are owned by small investors who own 10 properties or fewer. This means that the Senate bill will likely do very little to curb investors’ appetite for single-family homes to rent out.
However, there is some bite to the argument that investors are making home-buying more difficult for many Americans. One aspect is that they typically focus on homes in smaller or less expensive markets. In the second quarter of last year, the national average sale price for homes was $512,800, but investors paid an average of $455,481 per home – a substantial difference. Additionally, the data show that large institutional investors with 1,000 or more properties often purchase homes at even lower prices, with an average price of $279,889.
The Senate bill would also hit the rapidly growing build-to-rent sector, which currently makes up 7% of the new single-family home construction. While large investors would still be able to own build-to-rent properties under the bill, they would have to sell the homes after seven years, with renters having the first option to purchase. Industry groups believe the sell requirement would “effectively eliminate” the build-to-rent market.
This debate invites consideration of the role single-family homes play in generational wealth and the American Dream, and who exactly should occupy and own these homes.
Female homeowners
One group that may be slowly pulling ahead financially in building wealth through homeownership is single women, who now account for 21% of all homebuyers. As of 2022, “single women owned 58% of the nearly 35.2 million homes owned by unmarried Americans.” Among first-time homebuyers, that share is even greater. Single women account for 25% of first-time buyers, while single men account for only 10% (single men account for 9% of all homebuyers). While married couples are still the vast majority of homebuyers, it is clear that “women are not waiting to either get married or find a life partner before moving forward and accomplishing their financial goals.”
Many single women view homeownership as a wealth-building tool, which is something that wasn’t always available to them. Before the Equal Credit Opportunity Act of 1974, unmarried women could legally be denied a loan without a male cosigner, making it almost impossible for many women to purchase property. The 1974 law changed that, and women have slowly made inroads in the housing market.
Single women still face challenges to homeownership, including making less on average than their male counterparts, which means they may need more time to save for a down payment. The median age for single first-time homebuyers is 44 for women and 39 for men. Single women are also more likely to be denied a mortgage or receive higher interest rates, likely due to their, on average, lower incomes. However, single women are certainly a good investment, because as one report notes, “despite their higher interest rates, bigger debts and lower incomes, women are less likely to default on their mortgages compared with men.”
