Welcome to Options for Homes' first-ever Impact Study. As a non-profit developer, our mission at is to make homeownership more attainable for as many people as possible. Over the years, we've and we’ve always been motivated by our understanding of the incredible positive impact that owning a home can make in people’s lives. But we were looking for more: we wanted to better understand the true impact of Options behind the stories. We undertook this study to gather data about the effectiveness of the Options model.
About the Study
Just as we’ve long believed, instinctively and anecdotally, we found that the benefits of our model don’t just touch the lives of those purchaser households, they spread to the larger community and beyond on to future generations. Read on to find out more about out impact.
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Study Highlights
Through our model of down payment support, we found that Options of Homes:
Addresses wealth inequality and impact social mobility by providing an accessible path to homeownership. Fifty-six percent of our purchasers surveyed are from BIPOC communities – groups that historically have faced systemic challenges to accessing homeownership and the inter-generational wealth it creates.
Creates new homeownership opportunities that would not otherwise have existed for two out of every three of our purchasers. Across the 3,140 units of new supply we have developed, 65% of our purchasers would not have been able to afford a down payment without Options’ support.
Has a positive effect on the housing market by making (often affordable) rental units available as long-term tenants move to ownership. Seventy-three percent of our purchasers moved from rental and 45% of them say they would have stayed in rental units if not for Options.
Purchasers experience less stress and a greater sense of well-being in their Options home. Feeling in control of one’s life is a key social determinant of health and 87% of purchasers reported a sense of pride and accomplishment in owning a home. Meanwhile, 57% reported a feeling of increased stability in their living condition and 37% reported decreased levels of stress.
Kamiko
"I'm the first person in my little immediate family to own a home. It's definitely something that I want to make sure that my kids have the opportunity to have as well."
Next Steps
These first-year results provide a foundation from which we will continue to explore and understand who we serve and the impact we’re having.
We will continue delivering and improving upon the following impacts:
Creating pathways to homeownership for first-generation homeowners and households from BIPOC communities
Providing ownership opportunities for women-led and single parent households.
Taking pressure off the rental market by bridging the gap to ownership with down payment support