The Effect of Gender on Apartment Selection, Research Paper Example

Economic decisions are made by men and women differently. Overall, economic studies that attempt to reveal the financial decision making differences between men and women demonstrate that men typically have higher salaries and higher level jobs, while women typically make less income. Furthermore, these understandings are drawn from connections between gender and societal roles. Until recently, women were expected to primarily play a role as housekeeper while the man was expected to work. As such, men and women have different standards when it comes to keeping a home, how expensive the home should cost, where the home is located, and standards for living. All of these factors relate to economics because ultimately, the ability for an individual to live in certain areas or certain types of apartment depends upon their income. Furthermore, there is a psychological element of apartment choice that is related to finance; some individuals intend to live in nicer apartments because they prefer comfort, while others would compromise comfort to live in a more ideal location. Overall, a variety of factors contribute to the decisions related to choosing an apartment to rent.

To determine the relationship between gender and standards for apartment choice, it is first important to consider the average income that individuals make based on their gender. According to the Bureau of Labor Statistics, “In 2013, New York women who were full-time wage and salary workers had median usual weekly earnings of $758, or 83.3 percent of the $910 median usual weekly earnings for their male counterparts” (Bureau of Labor Statistics, 2013). Since it is apparent that women have less income in large cities, such as New York City, in which a majority of individuals tend to rent their homes instead of owning them, there is a lesser ability for these individuals to select high priced options. Studies have shown that women tend to be more frugal than men, which may be related to their income. However, it is also important to consider that women are also more likely to have a preference with regards to location and apartment size, so these individuals may be willing to select larger apartments in less prime neighborhoods to ensure that their quality of living within their apartment remains high. Meanwhile, young males are more likely to compromise space for the ability to live in a prime neighborhood, even though this may mean that their bedrooms are only large enough to fit a bed.

It is important to consider that the differential upbringing of individuals contributes to their housing expectations. In most families, young girls are taught how to complete household chores and take part in making sure the home is clean. Many families do not emphasize the same responsibilities for men. Thus, young girls grow up having a greater sense of what home should be in addition to having a greater connection to these ideals (Forchuk et al., 2006). Meanwhile, young boys are taught that they should work hard to get good jobs. Since young boys and girls are provided with different focuses during their childhood, they are focused on different goals when considering what an ideal place to live might be. Thus, some women tend to think ahead about what their home should be like for the future, such as when they want to have children. As a result, these individuals are more likely to want to inhabit apartments that have more than one room, providing that they intend to stay within the same city or town over a long period of time. On the other hand, men are less likely to make these decisions when picking a place to live. They are more concerned with the relevance of the home to their current goals and are therefore more willing to leave for a new apartment if their current one is no longer meeting their needs.

An additional consideration that many individuals need to make when renting is how they will be able to afford their apartments. As a solution, many young renters attempt to rent with roommates because apartments with more rooms tend to cost less per room than studio or one bedroom apartments. Interestingly, no significant studies have been conducted to determine whether sharing apartments is prevalent among males or females. Thus, this aspect of apartments selection is ultimately due to the preferences of the individual. However, it is important to consider that the need to reside with a roommate does depend on the individual’s salary and desire to spend a smaller percentage of the overall income on housing. Thus, individuals with a smaller income or those who are frugal are more likely to want roommates (Misra, 2015). While both men and women are likely to seek roommates when they move into their first several apartments, the desire for independence is likely to lead women to eventually leave this setup in order to achieve a more stable living environment.

To gain a greater understanding about the relationship between gender and apartment selection, it would be necessary to survey both men and women to create a qualitative analysis of their apartment choices and factors that influence their decisions. While it is apparent that apartment choice is related to economic restrictions and concepts pertaining to personal choice, it is challenging to determine the precise characteristics that may guide this decision making process. It is clear from speaking to both men and women about their housing choices that their ideals are different. Thus, understanding these differences could prove valuable to real estate companies and economists. It is becoming more valuable to gain an understanding of how renting sales could increase to help the landlord, real estate company, and other stakeholders to gain a greater degree of profit.

Even though apartments are a necessity for those who need housing, it is important to consider that economic principles, such as supply and demand, can be used to determine how individuals will make housing decisions. Furthermore, since these decisions are based in part off of preferences and characteristics, a combination of a knowledge of demographics, economics, and psychology can be used to predict consumer habits. This will allow marketing agencies more effectively market to their target demographics and help landlords determine how to alter their properties in a manner that will meet the needs of potential renters. Since it is becoming significantly more challenging for individuals to own their own homes in major cities, it is valuable to consider how renting can be made more profitable. Gaining an understanding of these factors will allow this to become possible. Determining the impact of gender on housing choice an important component of this possibility. 

References

Bureau of Labor Statistics. (2013). Women’s Earnings in New York – 2013. Retrieved from http://www.bls.gov/regions/new-york-new-jersey/news- release/womensearnings_newyork.htm

Forchuk C, Nelson G, Hall B. (2006). “It’s Important to be Proud of the Place You Live In”: Housing Problems and Preferences of Psychiatric Survivors. Perspectives in Psychiatric Care, 42(1): 42–52.

Misra, T. (2015). Mapping the Hourly Wage Needed to Rent a 2-Bedroom Apartment in Every U.S. State. Retrieved from http://www.citylab.com/housing/2015/05/mapping-the-hourly- wage-needed-to-rent-a-2-bedroom-apartment-in-every-us-state/394142/