A recent study indicates that owning a home early in adulthood can extend the lifespan of male Americans born in the early 1900s by about four months.
Dr. Casey Breen, a Senior Postdoctoral Research Fellow at Oxford University’s Leverhulme Centre for Demographic Science and Department of Sociology, led the research, which is now published in Demography.
The findings reveal that homeownership adds approximately 0.36 years to the life expectancy of Black male Americans from this era, while White male Americans enjoy an even greater increase of 0.42 years.
Dr. Breen commented, “My research demonstrates that homeownership significantly enhances life expectancy. These findings suggest that social policies aimed at widening homeownership access for Black Americans could help reduce the life expectancy gap between Black and White males in the United States.”
The study suggests that increasing homeownership opportunities for racial minorities could help address the stark racial inequalities in mortality rates currently seen in the U.S. It also sheds light on considerable differences in homeownership rates during the twentieth century, revealing that White Americans were nearly twice as likely to own homes compared to Black Americans. Historical issues stemming from slavery and racism resulted in fewer Black Americans being homeowners; in 1940, less than 10% of those aged 18-25 owned homes, and only 40% of those over 65 had homeownership.
By utilizing data from census records from 1920 and 1940, along with social security mortality records, and adopting a sibling-based identification strategy, the study explored the life expectancy outcomes for American males who owned homes between the ages of 24 and 35.
While homeownership can contribute to wealth accumulation and is linked with improved health and longevity, the research found that the value of the property had minimal impact on life expectancy. The study also addresses other factors that may contribute to increased life expectancy in homeowners, such as enhanced social networks, the psychological advantages associated with owning a home, and superior living conditions.
Dr. Breen added, “This study clearly shows a statistically significant difference in life expectancy between homeowners and renters in the U.S., with homeowners in their early adulthood living about six months longer at age 65 compared to those who lease.”
The study accounted for variables like education, race, income, marital status, and family background to illustrate how homeownership influenced life expectancy in the twentieth century. However, the sample was limited in terms of gender, ethnicity, nationality, and historical context, thereby likely not representing broader populations.
