How Living Alone Can Cost an Extra $10,000 a Year in ‘Singles Tax’
Summary
Living alone in the U.S. costs about $10,000 more per year than sharing a home, according to Zillow. This extra expense is called the "singles tax." The analysis shows that renters living alone pay significantly more, whereas those sharing homes can save a lot of money.Key Facts
- Renting alone in the U.S. costs around $10,470 more per year than sharing housing.
- Zillow calls this added expense for living solo the "singles tax."
- Sharing a lease, especially for couples, can save around $20,940 per year.
- The typical U.S. apartment rents for $1,745 a month, a 30% increase from five years ago.
- Zillow's study included data from over 72,000 rental listings nationwide.
- Solo renters in New York City pay $23,400 more annually compared to those who share.
- Apartment affordability, considering rising incomes, is at the best level since April 2021.
- Renting is currently cheaper than owning a home by up to $548 monthly.
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