When a family achieves homeownership, the accomplishment is immediately celebrated, because people realize the impact homeownership will have on the family going forward. What’s less often celebrated, or sometimes even considered, are the impacts that homeownership has beyond the household, in the entire community.
Owning a home creates balanced and stronger lives, leading to balanced and stronger communities. Here’s how:
Community Engagement
Homeowners are more likely than renters to be active contributors to their neighborhood, regardless of income level. There are higher participation rates in: social and political discussion, religions and civic engagement, eco-friendly initiatives, and community networking (Source: New Homes Witchita). Community engagement is key to building a strong and healthy community, where locals bond and uplift one another.
Positive Educational Outcomes
Children are our future, and they do better in school with a consistent home environment. It’s not surprising that there is a positive correlation between homeownership and educational outcomes in students. Children living in homes have better focus and receive higher grades. This benefits them in the long run, preparing them for college, the work force, and adulthood. When children do well in school, teachers do their jobs better, students interact positively, and more learning is done! Need we say more?
Stronger Economy
More homeownership in an area bolsters the local economy. The Housing Market is a driving force in the US economy, accounting for over 17% of GDP. Increasing property value brings more businesses and creates jobs in the area (Source: National Association of Realtors).
Less Crime
According to a study by Nebraska Economics and Business Association, 1% increase in homeownership equals a 1.5% drop in subsequent per capital property crime. When locals are less worried about crime, they can focus more on the good things in life.
HONK transforms vacant homes into catalysts for families to improve their lives, thus improving their community. HONK wants to see Northern Kentucky thrive, we do our part by helping local families and individuals achieve homeownership.
Want to help us continue our mission in Northern Kentucky? Donate here.
