The Impact of Affordable Housing
Financial Benefits
Homeowners equity grows by an average of $9,500 a year compared to renters.
Habitat Homeowners save an average of $200/month when switching from rent to mortgage payments.
Racine Habitat mortgages are interest free - saving homeowners up to $240,000 over 30 years.
Health Benefits
Homeowners health costs tend to go down.
Homeowners experience less stress, and feel more safe and secure.
Homeowners physical well-being tends to improve
Educational Benefits
Children whose parents own their home have better attendance and graduation rates in Racine.
Parents feel more confident in their ability to fund their child’s college education.
Adults are more likely to invest in their own education.
Community Benefits
Homeowners are more likely to be civically engaged.
Vacant lots and abandoned houses are revitalized, adding value back to the neighborhood and increasing the property tax base.
More affordable housing, leads to more businesses, and more job opportunities.