June is National Homeownership Month
June is a special time as we celebrate National Homeownership Month, dedicated to raising awareness about the significance of owning a home and the profound impact it has on families and communities throughout the United States. This month serves as a reminder that part of the American Dream entails owning a home, underscoring the crucial role played by organizations like Iowa Heartland Habitat for Humanity in making this dream a reality for all.
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In a collaborative study with the University of Northern Iowa, we discovered that Iowa Heartland Habitat homeowners experience an immediate wealth increase of $116,000 upon becoming homeowners. Their financial well-being sees a notable boost of 15.8%, while their overall life satisfaction skyrockets by 49%.
When compared to applicants, our homeowners exhibit higher rates of full-time employment, attainment of a 4-year college degree, and increased income levels. They also demonstrate larger savings and retirement accounts, alongside a greater likelihood of maintaining marital stability.
At Iowa Heartland Habitat for Humanity, we are dedicated to building stability, equity, and hope through initiatives centered around homeownership, resilient neighborhoods, and community collaboration. With nearly 15,000 local families cost burdened by their housing and more than 725 people on our homeownership program waiting list - the need is great.
National Homeownership Month serves as an occasion to celebrate the transformative impact of homeownership on families and communities, acknowledge the hurdles many face on their journey to owning a home, and reignite our commitment to assisting families in attaining the stability created through homeownership.
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