Love pays, literally: The $10K 'singles tax' of living solo

Rhea-AI Summary

Zillow (NYSE: Z) analysis on Feb. 11, 2026 finds the national "singles tax" — the extra annual rent solo renters pay versus those who share housing — is $10,470. Typical U.S. multifamily rent is $1,745, up 30% over five years, while apartment affordability (adjusted for incomes) is the best since April 2021.

Couples who combine households can capture a $20,940 combined annual savings; New York City shows the largest singles tax at $23,400 per year.

Positive

• National singles tax of $10,470 per year
• Couples' discount of $20,940 combined annual savings
• Typical U.S. multifamily rent $1,745, up 30% over five years
• Apartment affordability best since April 2021 (income-adjusted)

Negative

• Solo renters bear the full rent on one income, raising cost burden
• High-cost metros concentrate strain—NYC singles tax is $23,400 annually
• Sharing yields outsized savings (> $30,000) in several West Coast and NYC metros

News Market Reaction

-16.54% 1.7x vol

157 alerts

-16.54% News Effect

-16.0% Trough in 4 hr 35 min

-$2.62B Valuation Impact

$13.24B Market Cap

1.7x Rel. Volume

On the day this news was published, Z declined 16.54%, reflecting a significant negative market reaction. Argus tracked a trough of -16.0% from its starting point during tracking. Our momentum scanner triggered 157 alerts that day, indicating very high trading interest and price volatility. This price movement removed approximately $2.62B from the company's valuation, bringing the market cap to $13.24B at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Singles tax (U.S.): $10,470 per year Singles tax change: $146 increase Couples' discount (U.S.): $20,940 per year +5 more

8 metrics

Singles tax (U.S.) $10,470 per year Extra annual rent solo renters pay vs sharing housing nationwide

Singles tax change $146 increase Year-over-year increase in national singles tax, smallest in five years

Couples' discount (U.S.) $20,940 per year Annual rent savings when two people share one lease nationally

Typical U.S. rent $1,745 per month Typical U.S. apartment rent, up 30% over past five years

NYC singles tax $23,400 per year Highest singles tax among listed metros for solo renters

San Jose singles tax $19,488 per year Annual cost of living alone vs sharing housing in San Jose

Boston singles tax $18,084 per year Annual cost of living alone vs sharing housing in Boston

Listings sample size More than 72,000 listings Multifamily listings on Zillow used for rentals analysis

Market Reality Check

Price: $43.45 Vol: Volume 4,837,092 vs 20-da...

normal vol

$43.45 Last Close

Volume Volume 4,837,092 vs 20-day average 3,647,858 (relative volume 1.33). normal

Technical Price 54.71 is below 200-day MA at 73.44, and 41.72% below 52-week high.

Peers on Argus

Z (+0.79%) moved modestly higher while close peers showed mixed moves: ZG (+0.61...

1 Up

Z (+0.79%) moved modestly higher while close peers showed mixed moves: ZG (+0.61%), BIDU (+0.36%), TME (+1.69%), with NBIS (-1.21%) and PINS (-0.49%) lower. Scanner momentum flagged only BILI (+4.10%), suggesting today’s move was more stock-specific than broad sector-driven.

Historical Context

5 past events · Latest: Feb 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 10	Earnings results	Positive	+0.8%	Q4 and FY2025 revenue growth with positive GAAP net income and strong EBITDA.
Feb 09	Housing trends data	Positive	-1.3%	20-year shift in home design preferences with rising demand for new features.
Feb 04	Market report	Negative	-4.1%	Home values declining with slower sales and fewer homes selling above list price.
Feb 03	Home value analysis	Positive	-5.7%	Analysis linking football championship winners to above-average home value gains.
Jan 29	Brand campaign launch	Positive	+0.3%	Launch of national "Someday Starts Today" marketing campaign across major media.

Pattern Detected

Recent Zillow news and data releases often saw mixed reactions, with marketing or macro-housing pieces sometimes selling off even when broadly positive, while the latest earnings and brand-focused items aligned with modest gains.

Recent Company History

Over the past few weeks, Zillow has released several data-driven and brand-focused updates. On Jan 29, it launched the "Someday Starts Today" campaign, followed by housing-market analyses on Feb 3 and Feb 4, which highlighted performance patterns in championship metros and improving buyer affordability. A design-trend piece on Feb 9 coincided with a small decline. Most recently, strong Q4 and FY2025 results on Feb 10 aligned with a modest price increase, providing a constructive backdrop for this rentals-focused analysis.

Market Pulse Summary

The stock dropped -16.5% in the session following this news. A negative reaction despite this rental...

Analysis

The stock dropped -16.5% in the session following this news. A negative reaction despite this rentals-focused analysis would fit prior episodes where broadly positive housing insights coincided with selling pressure. While the report showcases renter savings and engagement tools, shares remain far below the 52-week high of 93.88 and below the 200-day MA of 73.44. That backdrop, combined with mixed responses to earlier data pieces, could have led the market to discount the incremental impact of this announcement.

Key Terms

zillow observed rent index

1 terms

zillow observed rent index technical

"Typical Monthly Multifamily Rent (Zillow Observed Rent Index)"

A Zillow Observed Rent Index (ZORI) is a regular measure of typical rents derived from rental listings and transactions tracked by Zillow, showing whether rents are rising or falling in a city, county, or neighborhood. Think of it as a thermometer for the rental market: investors use it to gauge housing demand, forecast revenue for landlords and real estate funds, assess consumer spending power, and spot inflation trends that can affect stocks and bonds.

AI-generated analysis. Not financial advice.

This Valentine's Day, Zillow data shows that love isn't just romantic — it's economical

• Renters who live alone pay about $10,470 more per year than those who share housing. That "singles tax" rose just $146 over the past year—the smallest increase in five years.
• Couples and roommates who combine households can unlock $20,940 in annual rent savings by sharing one lease instead of living separately and paying for two.
• New York City tops the list as the most expensive market for solo renters, with a "singles tax" of $23,400 a year. 

SEATTLE, Feb. 11, 2026 /PRNewswire/ -- Living solo comes with plenty of perks — independence, privacy and full control of the thermostat. But that freedom also comes with a price tag. A new Zillow® Rentals analysis finds the national "singles tax" — the extra amount renters pay to live alone rather than share housing — now totals $10,470 per year.

With the typical U.S. apartment rent at $1,745 — up 30% over the past five years — solo renters are covering that full amount on their own instead of splitting it among two or more roommates, essentially paying a premium for having the fridge, remote and closet space all to themselves. The good news for all renters (not just those flying solo) is that apartment affordability nationwide (taking rising incomes into account) is the best it's been since April 2021.

Last year, Zillow calculated the singles tax using only one-bedroom units. This year, Zillow ditched the unnecessary box-checking and analyzed typical rents across all apartments, drawing from the more than 72,000 multifamily listings on Zillow to reflect the range of homes singles actually consider. After all, who couldn't use an extra bedroom for a home office, gym or overflow closet?

"When you're living alone, you're covering the full rent on one income and that can add up fast," said Emily Smith, Zillow rental trends expert. "Apartments often make living solo more attainable, while also offering shared spaces that help people feel connected. And for renters who choose to live with a partner or roommate, splitting everyday costs like rent, utilities and groceries can go a long way in easing the pressure of today's higher cost of living."

Love, roommates and the 'couples' discount'

For sweethearts, the singles tax flips, becoming a meaningful "couples' discount." By sharing one lease instead of maintaining two separate rent bills, couples can capture a combined $20,940 in annual rent savings. Those savings add up. An extra $20,000 back in renters' pockets is more than halfway to a 10% down payment on a typical U.S. home.

Where solo living is priciest — and sharing delivers big savings

New York City remains the most expensive market for renters living alone. According to StreetEasy^®, Zillow's New York City brand, solo renters in New York City pay $23,400 more per year than those who share housing — the highest singles tax in the country. San Jose follows, with living alone costing renters $19,488 annually, and Boston is close behind at $18,084.

These same metros, however, are also where sharing a home can deliver the biggest financial payoff. In New York City, San Jose, Boston, San Francisco, Los Angeles and San Diego, renters who share housing can save more than $30,000 per year, making falling in love one of the most effective ways to stretch a housing budget in the nation's most expensive rental markets.

Zillow helps renters navigate the market

Finding "the one" starts with the right tools. Zillow connects renters to apartments, single-family homes and rooms for rent — all in one place — while the rent affordability calculator helps make sure the match fits the budget, too.

Region	Typical Monthly Multifamily Rent (Zillow Observed Rent Index)	Singles Tax	Couples' Discount
New York City*	$3,900	$23,400	$46,800
San Jose, CA	$3,248	$19,488	$38,976
Boston, MA	$3,014	$18,084	$36,168
San Francisco, CA	$2,857	$17,142	$34,284
Los Angeles, CA	$2,648	$15,888	$31,776
San Diego, CA	$2,643	$15,858	$31,716
Miami, FL	$2,443	$14,658	$29,316
Riverside, CA	$2,243	$13,458	$26,916
Washington, DC	$2,230	$13,380	$26,760
Seattle, WA	$2,062	$12,372	$24,744
United States	$1,745	$10,470	$20,940

*New York City data comes from StreetEasy's median asking rent. Data for all other markets comes from the Zillow Observed Rent Index (multifamily units only) and covers the full metro area.

About Zillow Group:

Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.

As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.

Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.

Zillow Group's affiliates, subsidiaries and brands include Zillow^®, Zillow Premier Agent^®, Zillow Home Loans^®, Zillow Rentals^®, Zillow^® New Construction, Trulia^®, StreetEasy^®, Out East^®, HotPads^®, Follow Up Boss^®, ShowingTime^®, dotloop^® and Zillow^® Closing.

All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2026 MFTB Holdco, Inc., a Zillow affiliate.

(ZFIN)

 

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SOURCE Zillow

FAQ

What is Zillow's national "singles tax" reported Feb. 11, 2026 for NYSE:Z?

The singles tax is $10,470 per year for solo renters. According to Zillow, this is the extra amount solo renters pay compared with those who share housing, based on multifamily rent data.

How much can couples save by sharing one lease, per Zillow's Feb. 11, 2026 analysis?

Couples can capture $20,940 in combined annual rent savings. According to Zillow, sharing one lease instead of maintaining two separate rentals produces that nationwide combined benefit.

Which U.S. market has the highest singles tax in Zillow's Feb. 11, 2026 report?

New York City has the highest singles tax at $23,400 per year. According to Zillow's StreetEasy data, NYC solo renters face the largest per‑year premium versus shared housing.

How has typical U.S. apartment rent changed leading up to Zillow's Feb. 11, 2026 release?

Typical U.S. multifamily rent is $1,745, up 30% over five years. According to Zillow, that increase contributes to the measured singles tax and current affordability dynamics.

Does Zillow say affordability is improving despite higher rents in the Feb. 11, 2026 analysis?

Yes — affordability is the best since April 2021 when adjusted for rising incomes. According to Zillow, income growth has partly offset rent increases for typical renters.