Homeownership Declining Among Families With Children, Study Finds
Despite a record-high rate of homeownership for the nation on the whole, the percentage of families with children who own their homes is lower than it was during the 1970s, according to a study released last month by the Center for Housing Policy, the research affiliate of the National Housing Conference.
The homeownership rate for all families with children decreased from 70.5% in 1978 to 68.4% by 2001, the study found. Among low- to moderate-income working families with children, the homeownership rate dropped from 62.5% to 56.6% during that same period. By comparison, 65.2% of all households owned their homes in 1978 and that increased to 68.3% by last year.
The study defined working families as households earning less than 120% of the local median income, but more than the full-time equivalent of the minimum wage.
“For the sake of this nation’s families with children, and the communities in which they live, we must do more to ensure a range of decent, affordable housing opportunities for those within low- to moderate-income levels,” said Bob Reid, president and CEO of the Center for Housing Policy. “It is important to remember that many of these same families also provide vital services on which communities depend, such as police officers, fire fighters and elementary school teachers.”