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Community Indicators Home > Economic Independence > EI Ind 3: Homeownership rate in low income households

 

Indicator 3:

Homeownership rate in
low income households

Trend
vs. Georgia







 

 

What does it measure?

This indicator is the homeownership rate for low income (less than $50,000) households in Chatham County.

 

Why is it important?

Gaining and sustaining assets provides a pathway for families to overcome poverty. Owning a house is considered to be the most significant asset for a family. Since housing costs are typically a household’s largest expense, the development of affordable housing is an effective way to improve the home ownership rate. Other programs supporting home ownership such as financial education, access to credit, and revolving loan funds, among others, enhance the financial stability of the family and increase the financial health and vitality of a community.
 

How are we doing?

The homeownership rate among low income households in Chatham County increased substantially to 26.6% in 2011 from 22.8% in 2010. This returns the rate to comparable levels experienced in 2009.  The rate for Georgia was 26.7% in 2011, and is down from 27.5% in 2010.  Chatham County closed the homeownership gap with the state in 2011.
 

HOMEOWNERSHIP RATE IN LOW INCOME HOUSEHOLDS
Source: U.S. Census Bureau (American Community Survey, Table B25118)



 


 

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