The benefits of homeownership to a family include increased housing stability, the acquisition and building of wealth, and stronger neighborhood and community attachment.  Homeownership also benefits the community as a whole because homeowners have a greater financial stake in the community and thus a stronger incentive to take care of the home. 

The homeownership rate among low-income families (those families earning less than 200% of the federal poverty guideline for a family of three) has fallen since the 2000 census despite a 12% increase in overall homeownership.  According to the 2005-2009 ACS, in Pierce County there was an increase of 19,336 total homeowners, of which 17.1% (31,562) of these were earning less than $35,000 a year. This represents a decrease in low-income homeownership of 22% (-9,180) compared to 2000. Put another way, the quantity of low-income owner occupied housing units has fallen from 1 in 4 to 1 in 6.