28% of Households Are Single-Person

According to a new article from The Harvard Joint Center for Housing Studies, households consisting of a single person make up 28% of all households in the United States as of 2013, trailing only married couples without minor children (29 percent). Compare this figure to 1940, when single-person households only accounted for 7.8% of households in this country, and the startling shift in living arrangment becomes clear. Furthermore, the majority of these households now consist of women, whereas they traditionally consisted mostly of men. A number of factors are likely contributing to this change, including higher divorce rates, greater financial independence for women, and later age of marriage. Continue reading to learn more!

The sex of the household head is not the only change in the make-up of single-person households. In 1940, 61% of these households were held by renters; in 2013, that number had shrunk to 46%, meaning that the majority of single-person households are now owned by their occupant. Indeed, owners made up 55% of growth for these households between 2003 and 2013. Unsurprisingly, older people living alone are more likely to own their home than younger people.

The age of the people heading these households is fairly split, with 28% under 45 years old, 36% over 65 years old, and 36% in between. The older the head of the household, the more likely they are to live alone. In fact, the majority (52%) of households headed by those over 75 years old are single-person. This number is expected to rise in the near future due to aging baby boomers.

Follow the source link below for more information regarding this interesting trend.

Source: The Rise of the Single-Person Household