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.

• 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:

1. Nevada - 6.8%
2. Montana - 6.3%
3. Oklahoma - 6.1%
4. New Mexico - 5.8%
5. Delaware - 5.7% - tied
6. South Dakota - 5.7% - tied
7. Wisconsin - 5.7% - tied
8. Maine - 5.6% - tied
9. North Dakota - 5.6% - tied
10. Arizona - 5.5% - tied
11. Kentucky - 5.5% - tied
12. 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, visithttps://www.lendingtree.com/debt-consolidation/single-dads-study/ 

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.

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 Garcianelson@lendingtreenews.com  704-943-8208

View original content to download multimedia:https://www.prnewswire.com/news-releases/lendingtree-study-finds-the-places-with-the-most-single-dads-301567636.html

SOURCE LendingTree