A recent report called ‘Social Benefits of Homeownership and Stable Housing’ was co-authored and released by Chief Economist, Lawrence Yun of National Association of Realtors.

The report gives credence to a long-standing belief of most Americans:

“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”

Herein, we will be focusing on a section of the report that references several studies on the impact homeownership has on educational achievement.

Below are a few key points revealed within the report:

• The rate of teenage students staying in school is higher for those raised by home-owning parents, as compared to those in renter households.
• There is a positive correlation between high school graduation rates and parental homeownership in low-income neighborhoods.
• Neighborhood stability may further enhance the positive educational outcome for children that is derived from homeownership.
• Higher levels of achievement in math and reading, as well as fewer behavioral problems have been noted in children raised by home-owning parents.
• Communities with high rates of homeownership and community involvement tend to benefit from more educational opportunities.
• Children raised by a homeowner are significantly more likely to achieve a higher level of education and in turn a higher level of earnings.

The Takeaway

As I am sure you are aware, there are without a doubt many financial benefits of homeownership. This study however reveals that there are various other benefits derived from  homeownership, including heightened educational achievement.

To learn more about the process of owning your own home, call me at 727-755-3434 and I would be delighted to be your personal guide!!