A new study by Dr Casey Breen, Senior Postdoctoral Research Fellow, finds that owning a home in early adult life adds approximately four months to the lives of male Americans born in the early twentieth century.
Published in Demography, the study found that homeownership was associated with 0.36 years of additional life expectancy for Black male Americans who were born in the early twentieth century, and 0.42 years for their White counterparts.
Dr Casey Breen said:
My study finds homeownership has a meaningful positive impact on life expectancy. These results suggest that social policies that equitably expand homeownership opportunities for Black Americans may help narrow the gap between Black and White male life expectancy in the US.
According to the study, expanding homeownership opportunities for racial minorities could help mitigate the profound racial disparities in mortality that the US is currently experiencing.
The study underscores significant disparities in homeownership rates during the twentieth century, revealing that White Americans were nearly twice as likely as Black Americans to own a home. Systemic historical factors, including slavery and racism, contributed to limited opportunities for Black Americans - in 1940, fewer than 10% of Black individuals aged 18-25 owned homes, while the rate rose to only about 40% for those over 65.
The study analysed differences in life expectancy for American men who owned homes between the ages of 24-35 by linking data from the 1920 and 1940 census records with Social Security mortality records and using a sibling-based identification strategy.
While homeownership, compared to renting, can support wealth accumulation and is linked to better health and longer life, the study found that property value had minimal impact on life expectancy.
The research also highlights other factors contributing to increased life expectancy among homeowners, such as stronger social connections, the psychological benefits of owning a home, and improved living conditions.
Dr Breen added:
This study also shows that there is a meaningful, statistically significant difference in life expectancy between Americans owning their home and those who rent, with homeowners in early adulthood living approximately six months longer at age 65 than those who rent.
The study controlled for factors such as education attainment, race, income, marital status, and shared family background to provide a snapshot of how US homeownership affected life expectancy in the twentieth century. However, it is important to note that the sample was restricted in terms of gender, ethnicity, nationality and historical context, and is unlikely to be representative of other populations.
