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Plant Roots

Grow Wealth

It’s clear that homeownership is the key for families of all backgrounds to increase long-term household wealth to benefit future generations.

June is National Homeownership Month

Let us help guide you on your journey to unlock your family’s future and to plant the seeds of prosperity

We are celebrating how homeownership builds wealth across generations.

How Does Homeownership
Build Generational Wealth?

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First-Time Homebuyer Guide

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Financial Literacy Quiz

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Did You Know?

First-time homebuyers typically put down a

smaller down payment

compared to repeat buyers.

The median down payment for first-time buyers is about

8%.

Various federal, state and local programs are available to

assist first-time buyers

including down payment assistance and tax credits.

These programs are crucial to
helping buyers overcome financial barriers.

Homeowners build equity over time as they pay down their
mortgage and as their home's value appreciates.

In 2022, the

median net worth of homeowners
was $396,200

while the median net worth of renters was $10,400.

Historically, homes appreciate in value and contribute
significantly to homeowner wealth.

The average annual home price appreciation was about 4%,

from 2010 to 2020.

Homes are often the most valuable asset that can be
passed down through generations.

Approximately 60% of the wealth

of U.S. households comes from real estate.

Home equity can be leveraged

to help your children or grandchildren with
down payments, sustaining the

cycle of homeownership and
building wealth.

The homeownership rate in 2022

in the United States is

65.2%.

Homeownership in the U.S. varies significantly by race and ethnicity. In 2022, the homeownership rate among

Hispanic Americans was 51.1%,

compared to 44.1% among Black Americans.

The median age of a first-time buyer is

35 years old.

First-time home buyers earned a

median income of $95,900,

which is $24,900 more than
they made one year ago.

Thirty-eight percent of first-time buyers said saving
for a down payment was the most difficult part of
the home-buying process.

Among those first-time buyers, 56%

reported high rent and current mortgage payments delayed
them from saving towards their down payment,
followed by student loans at 45%.

PLANT ROOTS, GROW WEALTH

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All Rights Reserved.

430 N. Michigan Avenue
Chicago, IL 60611.

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430 N. Michigan Avenue
Chicago, IL 60611.

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