Skip to main content
Parry Custom Homes
  • Get Started
    • Showrooms
    • Buying Process
    • Parry Home Builders FAQs
  • Our Homes
    • Home Designs
    • Included Features
    • Photo Gallery
    • Virtual Tours
  • Where We Build
    • Counties
    • Find a Homesite
  • Why Parry
    • Our Build Process
    • Testimonials
    • Blog
  • Contact
Parry Custom Homes
  • Get Started
    • Showrooms
    • Buying Process
    • Parry Home Builders FAQs
  • Our Homes
    • Home Designs
    • Included Features
    • Photo Gallery
    • Virtual Tours
  • Where We Build
    • Counties
    • Find a Homesite
  • Why Parry
    • Our Build Process
    • Testimonials
    • Blog
  • Contact
Blog
banner image

Why having student debt might not hinder your homeownership

Posted on August 19, 2016 by Justin

According to recent data from Fannie Mae, potential home buyers with student loans who received a bachelor’s degree or higher level of education, are 27 percent more likely to become homeowners than those who are high school graduates and didn’t attend college. Parry Custom Homes, a premier homebuilder for Pittsburgh custom homes, shares the findings in why having student debt might not be as big of a hindrance as you previously thought.

According to the Federal Reserve, total student debt in the U.S. has more than tripled in the last decade. In April, the number was $1.3 trillion in student debt. The U.S. homeownership rate is near a 48-year low at 63.5 percent, according to the Commerce Department’s report for the first three months of this year.

In Fannie Mae’s National Housing Survey recent data report, potential homebuyers with student loans who have a bachelor’s degree or higher level of education, are 27 percent more likely to be homeowners than those who didn’t attend college after high school.

The issue of student debt is likely to affect the homeownership rates of certain groups of people more than others. An example of this would be for people who completed at least a bachelor’s degree without student debt were 43 percent more likely to be homeowners than high school graduates who didn’t attend college and have no student debt.

The report still shows that while student debt may delay homeownership, it doesn’t eliminate the idea all together. Renters between the ages of 22 to 44 were 28 percent less likely to buy rather than rent their next home compared to those without student loans.

While graduating debt-free makes owning a home easier, economists across the board agree over the importance of a college degree when it comes to unemployment and income levels.

 

 

 

Parry Custom Homes is an established homebuilder in the Pittsburgh area.  Call or contact us today for more information.

 

Share on:
  • Facebook
  • Twitter
  • LinkedIn

Categories

  • All Posts
  • Buying a Home
  • Custom Home Builders in Pittsburgh
  • Custom Home Plans
  • Homeowner News
  • Homeowner Testimonials
  • Homeowner Tips
  • New Homes in Pittsburgh
  • On Your Lot Builder Pittsburgh
  • Pittsburgh Communities
  • Pittsburgh Events
  • Uncategorized

Archives

Tags

  • Pittsburgh custom homes
  • On Your Lot Builder Pittsburgh
  • Pittsburgh new home builder
  • pittsburgh on your lot builder
  • new homes in pittsburgh
  • Pittsburgh custom homebuilders
  • Pittsburgh new homes
  • new home in Pittsburgh
  • new homes pittsburgh
  • pittsburgh home builders
  • Parry Homes
  • pittsburgh custom home builders
  • Pittsburgh home builder
  • custom home builders in pittsburgh pa
  • home solutions
  • custom homes pittsburgh
  • homeowner tips
  • homebuying
  • The Parry Experience
  • pennsylvania custom home builders
  • interior design
  • Parry Custom Homes
  • winter home tips
  • homebuyer tips
  • seasonal decorating
  • home finance
  • Pittsburgh custom home
  • kid room decor
  • Custom Home in Pittsburgh
  • homes for sale in north huntingdon
  • Mountain Ridge Estates
  • Pittsburgh on your lot builer
  • North Huntingdon community
  • Shannon Mills community
  • Pittsburgh on your lot builde
  • Parry Custom
  • home for sale in Pittsburgh
  • home selling
  • kitchen cabinets
  • events in Pittsburgh
  • custom floor plans
  • selling old home
  • kid room design
  • home memories
  • pittsburgh new
  • On your lot builder Pittsburg
Contact Us
10349 State Route 30

N. Huntingdon, PA 15642
PH:(724) 863-0199
Email Us
Visit our Showrooms!

Call to Schedule an Appointment

  • Standard Features
  • Our Homes
  • Locations
  • Photo Gallery
  • Virtual Tours
  • Find us on the Web

Service Areas

  • Washington, PA
  • Morgantown, WV
  • Cranberry, PA
  • Columbus, OH
Irwin Showroom
10349 State Route 30
N. Huntingdon, PA 15642
Phone: (724) 863-0199
Washington Showroom
34 Foundry Way (Old Mill Blvd)
Washington, PA 15301
Cranberry Showroom
20325 Route 19, Unit 9
Cranberry Township, PA 16066
Morgantown Showroom
143 Target Way
Morgantown, WV 26501
Phone: (304) 278-4554
Follow Us
  • Facebook
  • YouTube
Website by Imagebox
© 2023 Parry Custom Homes
All rights reserved.