Benefits of Home Ownership

The benefits of home ownership are substantial and varied for families, communities and society at large.

Home ownership and stable housing go hand in hand.  Homeowners move far less frequently than renters and are more embedded into the same neighborhood and community for a longer period.

Educational Achievement

  • Higher rate of post-secondary education among children of homeowners

  • The children display greater responsibility and discipline


Civic Participation

  • Homeowners are more politically active than renters and vote at a higher rate

  • Strong motivation to protect property values via the political process


Health Benefits

  • Homeowners have lower rate of respiratory conditions, injuries and mental health issues

  • Self-esteem is higher among homeowners

 

Crime

  • Homeowners are less inclined to crime since they have more to lose financially

  • Homeowners are far less likely to become crime victims


Public Assistance

  • Homeowners access public assistance at a far lower rate than renters

  • Home equity creates a rainy day fund and financial safety net

 


(See “Social Benefits of Home Ownership”, Lawrence Yun, Ph.D. and Nadia Evangelou, December 2016)