Solitude and space will cost you extra in the long run according to Zillow. Research shows that a so-called “single tax” is pushing renters in some markets to their limits.
By calculating the annual amount that one person would pay in rent and dividing it in half, which is the additional amount singles pay when their rent is not split with a partner or roommate, Zillow found that renters living in a one-bedroom on their own face a yearly “singles tax” of nearly $7,000.
The size of that “tax” varies widely depending on the city: singles pay $19,500 more a year than someone living with a partner in New York City, while San Francisco isn’t too far behind with a $14,000 “singles tax” for a one-bedroom apartment. In Los Angeles, the average “singles tax” runs more than $9,900.
Of the 50 largest U.S. cities by population, Detroit and Cleveland have the lowest “singles tax” at $4,483 and $4,387, respectively.
“Living alone has its perks—you never have to share a bathroom, you have a claim to the TV at all times, and dirty dishes can stack up as long as you want, judgment free. But all that freedom comes with a cost,” says Amanda Pendleton, Zillow home trends expert. “Even though rent prices are starting to cool, they are still significantly higher than they were a year ago. Renters considering going solo this year must decide how valuable living alone is to them, and if the cost is worth it.”
Zillow’s analysis also found that cohabitating renters in the U.S. save a collective $14,000 annually, compared to renters living alone.