Social Benefits

Recent studies of the social impact of living in one's own house clearly demonstrate a broad range of advantages accruing to homeowner families. These benefits span include many quality of life payoffs - from higher school grades and lower teen pregnancies to stronger neighborhood collaboration and greater voter participation in local, state and federal elections.

Among the findings:

. Children of homeowners showed a 9% higher probability of being in school than those of renters.

. Teenage pregnancy rates in families owning their homes are from 2-4% lower than for families who rent.

. Children of homeowners have a 25% higher probability of completing high school than renters' children.

. Children of homeowners have a 116% better chance of graduating college than renters' children.

. Children of homeowners had a 59% better chance of being homeowners themselves within 10 years of leaving the parental home.

. Math achievement scores are 9% higher among homeowners' children than renters' children.

. Reading achievement scores are 7% higher among homeowners' children than renters' children.

. Homeowners are 25% more likely to vote in local, state and federal elections than renters.

As the recent study from Harvard University's Joint Center for Housing Studies makes clear, homeownership is the cornerstone for vast improvements in quality of life.

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