June is National Homeownership Month

“June is National Homeownership Month when we promote the benefits of homeownership and recommit to creating opportunities for future homeowners.” - NAR.

“Whether you own or rent a home, you’re invested in and connected to the place you live. While homeownership is a good fit for many, renting also helps people invest in their communities and build wealth for their families and generations to come.” Tom Vilsack, USDA Secretary.

As economic developers, Pasadena Economic Development Corporation (PEDC) is tasked with facilitating growth in the city. PEDC recognizes there is a silent factor attached to economic growth and development, the residents. While serving as an ally to Pasadena businesses, PEDC is also an ally to new residents looking to live here. 

Why Homeownership Matters

Renters and homeowners both contribute to the overall well-being of the communities in which they reside. However, homeownership is a bit more beneficial.  

As a homeowner, personal benefits received:

• Tax deductions
• Catalyst for generational wealth
• A sense of pride and mature responsibility
• Increased credit rating
• Increased privacy and independence
• Increased opportunities to explore hobbies

As a homeowner, community benefits are given:

• Adds vacancies for new residents relocating or offspring spreading their wings
• Increased crime defense with Neighborhood Watch and personal security systems
• Beautifies the community

Pasadena has a 6% margin between renters and homeowners. The average home price, as of 2022, was $238,000. With 400 new builds in South Pasadena, the sense of community is strong and continues to grow within the family-friendly neighborhoods. 

Power the Possibility of Pasadena

With big city access, small town connections, a population of over 152k, a median age of 34, and only 20 minutes from Houston, you are in good company as a business expanding or resident moving to Pasadena. Pasadena also has the largest volunteer fire department in the entire country. Yes, the community truly cares about the city and each other. So, if you are looking to start a new beginning in a new place, peruse PEDC’s website to learn more about Living Here.

Since 1998, PEDC has helped Pasadena grow with its work with developers, entrepreneurs, and existing businesses to plant roots or expand and enhance organizations. PEDC connects businesses to the right resources needed to find success and maintain business retention. PEDC understands that all businesses, big or small, make significant contributions and impacts to Pasadena’s local economy and community. If you are interested in starting your business, expanding, or relocating your business to where possibilities abound, contact PEDC today.