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.