Unmarried couples prioritize buying homes over weddings amid rising housing costs

Couples are increasingly prioritizing homeownership over marriage, according to recent data. Many are opting to buy homes before tying the knot, reshuffling traditional adult milestones. Some couples may not marry at all, while others delay weddings, reasoning that buying a home is a significant commitment and can provide financial stability in an expensive housing market.

In 2023, around 555,000 unmarried couples purchased homes, marking a 46% increase from ten years prior when just under 381,000 did so. These couples now represent more than 11% of U.S. home sales, tripling their share since the mid-1980s as marriage rates decline.

Mark White and Sheila Davidson exemplify this trend; they bought a townhouse together in Newport News, Virginia but remain unmarried due to concerns about retirement benefits and tax brackets. "We need to get him on the deed at some point," Davidson noted regarding property ownership concerns.

The median homeowner's wealth was nearly $400,000 in 2022 compared to roughly $10,000 for renters. This disparity highlights why many couples prioritize building a financial foundation over legal marital status. "A mortgage feels like a more concrete step toward their future together than a wedding," said Emily Luk of Plenty.

Elise Dixon and Nick Blue used savings and an inheritance to purchase a condo in Washington D.C., viewing it as "a bigger commitment than an engagement." They plan to marry next year with costs less than their home's down payment.

Legal advisors recommend cohabitation agreements for unmarried homeowners to clarify financial obligations if relationships end. Despite potential complications without such agreements, young buyers like Peyton Kolb focus on investing in property rather than costly weddings.

As both home prices and wedding costs rise—home prices increased by 44% from 2019 to 2023—couples continue evaluating whether renting or buying best suits their long-term goals. Sonali Prabhu and Ryan Willis chose purchasing after facing rent hikes in Austin, Texas: "The marriage will come when it comes," Prabhu stated confidently about her future plans.