Our Impact
Measuring the Impact on Our Families
Since moving into their new homes, Pikes Peak Habitat Homeowners say:
100% have experienced financial relief
79% have a more stable home environment
47% reduced their existing debt by 30% or more
17% reduced their existing debt 60% or more
53% have increased their yearly income
46% are currently enrolled in a degree program or vocational training
21% have noticed their children's grades improve
46% believe their children's educational opportunities have improved
25% are able to spend more time with their children
50% are more engaged in community activities
37% have received a promotion or better career opportunities
32% have seen the health of household members improve
78% are better able to save for their children's future
95% have more hope for the future
The average Habitat Homeowner pays $230 less each month to their housing payment than when they were renters.
Why Homeownership Matters
Homeownership Benefits Communities
· Homeownership acts as an economic stimulus, benefiting individual homeowners and the national economy.
· Homeownership benefits neighborhoods, providing economic and social capital.
· Homeowners are more likely to participate in local organizations, neighborhood associations, religious institutions, and political activities.
· Homeownership in distressed communities raises property values by a significant amount.
· Homeowners vote at a 25 percent higher rate than renters.
· Homeowners are almost three times more likely to own a business than renters.
Homeownership Benefits Children
· Math achievement scores of children of homeowners are about 9 percent higher than renters’ children; their reading scores are about 7 percent higher.
· The high school graduation rate of children of homeowners is 25 percent higher.
· Children of homeowners are twice as likely to acquire some post-secondary education.
· Children of homeowners are 116 percent more likely to graduate from college.
· Children of homeowners are 40 percent less likely to give birth as unmarried teenagers.
· Children of homeowners are 59 percent more likely to own their own home in 10 years.
Homeownership Benefits Families
· Homeowners earn more, so their families are less likely to rely on public assistance now and their children are half as likely to grow up and rely on public assistance later.
· Families who own a home rather than rent a unit have a 13 – 23 percent higher quality home environment—both physically and emotionally.
· Parents who own their homes have twice the income of those parents who rent.
· Homeowners’ children are half as likely to grow up in single-parent households.
Sources: Haurin, Pacrel, Haurin 2000; Harkness and Newman 2003; Drier 1994; DiPasquale and Glaeser 1998; & Fannie Mae 1998.