This study investigates nine variations in single weft-knitted fabrics made from 31 × 2 tex wool/PAN yarn, featuring alternating plain and float stitch courses, compared with plain stitch alone. It examines how the presence and percentage of inactive needles, formed float loops, in the single-knit stitch repeat influence dimensional stability, structure, and stretch behavior. The results reveal changes in dimensions after repeated washing: lengthwise shrinkage increased over cycles, whereas widthwise shrinkage decreased, because of yarn redistribution between knit and float loops. The percentage of inactive needles (float loops) significantly affected widthwise shrinkage across all cycles and lengthwise shrinkage from the second wash onward, with the most notable changes occurring between the first and second washes, likely because of wool felting and the fabric’s structure. Increasing the percentage of inactive needles (float loops) increased wales, courses, and stitch density, resulting in a more compact and rigid fabric structure. Fabric thickness, stitch length, and weight also increased. Stretch properties were impacted: widthwise deformation decreased, whereas lengthwise deformation increased slightly, with elastic deformation dominating. These findings emphasize that float loops in single-knit stitches are vital for controlling dimensional stability, mechanical performance, and recoverability, offering valuable guidance for designing durable, high-performance half-wool single-knit fabrics.