Montgomery County, Ohio, is Building Stronger Communities Through Homeownership

Montgomery County, Ohio, is Building Stronger Communities Through Homeownership Main Photo

6 Jun 2024


June is National Homeownership Month, a time to reflect on the importance of owning a home and its role in strengthening communities nationwide. Throughout this month-long celebration, we recognize homeownership's many benefits to families, neighborhoods, and local economies. Montgomery County, Ohio, proudly joins in this celebration by highlighting homeownership as a pathway to stability and prosperity.

Despite the current higher interest rate environment, the Montgomery County real estate market is a beacon of affordability and opportunity for many buyers. The median house price in the US is $393,500. In contrast, the median price in Montgomery County, Ohio, is a promising $199,483 — a staggering 50% lower. Montgomery County offers prospective homeowners not just a home but a future filled with promise and financial stability.

The Value of Homeownership

Owning a home is more than just having a roof over your head. It's a source of pride, a testament to your achievements, and a pillar of stability for you and your family. Homeownership also brings financial advantages, such as tax deductions and often more affordable monthly mortgage payments, compared to long-term rent. Moreover, purchasing a home is widely seen as one of the best long-term investments, with residential real estate typically appreciating an average of 3 to 5% a year.

Beyond these personal benefits, homeownership plays a pivotal role in fostering vibrant and resilient communities. It contributes to the growth of the community tax base, which in turn can reduce the tax burden on individuals. Research indicates a direct correlation between higher homeownership rates and lower crime rates, highlighting the positive impact of stable housing on neighborhood safety.

Homeowners also tend to be more engaged in their communities. They volunteer more frequently, support local businesses, and contribute to the economy. Additionally, homeowners are more likely to participate in civic activities and elections, crucial for a thriving democracy.

The National Association of Realtors (NAR) researches the housing market and its economic effects. According to NAR, every two home sales support one new job, illustrating the far-reaching economic benefits of homeownership.

Montgomery County's Support for Homeownership

Montgomery County Community and Economic Development understands the transformative power of homeownership on individuals and communities. As a leading economic development organization, we actively champion initiatives that foster responsible and sustainable homeownership. Our comprehensive programs and services are tailored to guide potential homeowners from financial education to homebuyer assistance.

Discover Your Path to Homeownership

National Homeownership Month is a time to celebrate the dream of owning a home and recognize its profound impact on individuals, families, and communities. Through the efforts of organizations like Montgomery County Community and Economic Development, more people have the opportunity to experience the joys and benefits of homeownership. As we commemorate this month, we reaffirm our commitment to building more robust, vibrant communities through sustainable and inclusive homeownership initiatives.

National Homeownership Month is an ideal time to explore purchasing a home. Montgomery County Community and Economic Development helps families integrate into the community through homeownership. Contact us today about how we can help you achieve your dream of owning a home.