Share of Single-Income Homes on the Rise!

A new survey by Redfin has found that the number of single-income households has increased during the pandemic, either by choice or by circumstance.

According to the survey, which polled 1,023 Redfin users in August, 34% of people who moved into a new home since March 2020 indicated their household only had one stream of income. By comparison, only 29% lived in a single-income household before the pandemic.

Likewise, as the number of people living in a single-income household increased, the number living in dual-income households decreased to 59%, compared to 62% before the pandemic.

"While some people chose to move down to a single-income household, others had no choice," said Taylor Marr, Redfin’s Deputy Chief Economist. "Thousands of Americans lost their jobs during the pandemic, and scores of parents had to leave the workforce when daycares and schools shut down. Most workers are rethinking where their careers fall on life's priority list." MReport in Daily Dose.