Ahead of Father's Day, LendingTree's study found that there
are more than 1.5 million single fathers in the U.S., and
Nevada has the highest prevalence
of single fathers in the country
CHARLOTTE, N.C., June 14,
2022 /PRNewswire/ -- LendingTree®, the
nation's leading online financial services marketplace, released
its study finding the places in the U.S. with the highest rate of
single-father families. While single fathers are nowhere near as
prevalent as single mothers, the study found that single fathers
account for 4.6% of families where parents live with their
children. This translates to more than 1.5 million single fathers,
nationwide. Additionally, the study found that Nevada (6.8%), Montana (6.3%), and Oklahoma (6.1%) are the places with the
highest prevalence of single-father families.
Key findings
- Single-father families are most prevalent in Nevada (6.8%), Montana (6.3%), and Oklahoma (6.1%). These are the only places
in the country where single fathers represent more than 6% of
families where parents live with their children.
- On the other hand, the states where single-father families
are least prevalent are Utah
(3.6%), New Jersey (3.6%),
Massachusetts (3.7%), and
New York (3.9%). These are the
only places in the country where single-father families account for
less than 4% of families where parents live with their
children.
- While single fathers still outearn single mothers, they earn
a third less than the average for all families where parents live
with their children. The average income for single-father
families is $67,405 — the average
income for families where parents live with their parents is
$101,536.
- Single fathers are typically more educated than cohabiting
parents — only 12% of cohabiting fathers have at least a
bachelor's degree, compared with 26% of single fathers.
Here are the top 10 states with the highest prevalence of
single-father families:
- Nevada - 6.8%
- Montana - 6.3%
- Oklahoma - 6.1%
- New Mexico - 5.8%
- Delaware - 5.7% - tied
- South Dakota - 5.7% -
tied
- Wisconsin - 5.7% - tied
- Maine - 5.6% - tied
- North Dakota - 5.6% -
tied
- Arizona - 5.5% - tied
- Kentucky - 5.5% - tied
- Vermont - 5.5% - tied
LendingTree's Chief Credit Analyst, Matt
Schulz, had this to add:
"Being a single parent is a monumental task for anyone. While
single fathers tend to earn more than single mothers and are even
more likely to have a college degree than men living in two-parent
households, their job of raising a kid by themselves is anything
but easy."
For single fathers looking to expand their financial freedom,
Schulz offers the following advice:
- Creating and sticking to a budget offers the ability to make
choices and prioritize what matters, Schulz says. With clearly
defined limitations and areas of flexibility, a budget makes it
easier to prioritize expenses, plan for the future and pay off
existing debt.
- Be thoughtful about your future expenses.. "Don't hesitate to
trim some expenses to free up money to fund your priorities,"
Schulz says. "Get creative with ways to bring in a little more
income."
- Take action, no matter how small. "Life is the most stressful
when things feel out of our control," Schulz says. "Taking steps to
improve your situation, even small ones, can be empowering and
motivating, and that feeling can keep you moving forward even on
the most challenging days.
To view the full report, visit
https://www.lendingtree.com/debt-consolidation/single-dads-study/
Methodology
LendingTree researchers analyzed microdata from the U.S. Census
Bureau 2020 American Community Survey (five-year estimates) to
calculate the number of families headed by single men, single
women, married couples and unmarried couples who live with their
own children younger than 18.
For this study, single parents are people living with their
minor children who are neither married nor living with unmarried
partners. Married and unmarried partners include same-sex
couples.
"Own children" include biological, adopted and stepchildren who
are younger than 18 and unmarried. This study doesn't include
households and institutions where children live without at least
one parent.
About LendingTree
LendingTree is the nation's leading online marketplace that
connects consumers with the choices they need to be confident in
their financial decisions. LendingTree empowers consumers to make
smarter financial decisions through choice, education and support.
Consumers can compare multiple offers from a nationwide network of
over 500 partners in one simple search, and can choose the option
that best fits their financial needs. Services include mortgage
loans, mortgage refinances, auto loans, personal loans, business
loans, student loans, insurance, credit cards and more. Through the
logged-in experience, consumers receive free credit scores, credit
monitoring, recommendations to improve credit health, and
notifications when the proprietary algorithm identifies a savings
opportunity. LendingTree, LLC is a subsidiary of LendingTree, Inc.
For more information, go to www.lendingtree.com, dial 800-555-TREE,
like our Facebook page and/or follow us on Twitter
@LendingTree.
MEDIA CONTACT:
Nelson Garcia
nelson@lendingtreenews.com
704-943-8208
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SOURCE LendingTree