(Warminster, PA)– Did you know that June is National Homeownership Month? In Pennsylvania in 2024, the homeownership rate according to the U.S. Census Bureau was 69.3% – higher than the national rate of 65.3%.

“Pennsylvania has an impressive homeownership rate,” notes Bucks County Association of Realtors® President Christy Manetta. “Owning a home helps open doors to many opportunities, and it’s a key to building long-term wealth and financial stability.”

Homeowners build equity and benefit from home price appreciation, helping them build wealth over time. Homeowners also have an average net wealth that is 400% higher than that of renters with similar demographics and earnings, and home equity represents the largest proportion of wealth (34.5%) for U.S. households, according to research by Habitat for Humanity.

Owning a home can open doors to other financial opportunities as well. The wealth built from homeownership can lead to other investments, buying power, improved credit, generational wealth to pass down and more.

“Homeownership isn’t just about the financial benefits, though those are a plus,” Manetta added. “Owning a home can provide a sense of stability, pride, accomplishment and belonging. A home is a stable place to live and grow, and you can personalize it the way you want, calling it your own. Additionally, homeowners typically move less than renters, allowing them to plant roots in their communities and find a place they belong.”

“Owning a home opens so many doors,” she said. “It paves the way to financial stability, generational wealth and a more secure future overall. Realtors® across Pennsylvania help guide buyers through every step of the journey, turning the dream of homeownership into a reality.”