Housing affordability isn’t just an economic issue—it also shapes families, communities, and long-term financial strength. For millions of Americans, having access to a safe, reasonably priced home is the foundation for financial security and future prosperity.

In honor of Own Your Own Home Day, which occurred Tuesday, January 21, we’re focusing on actionable steps you can take to tackle housing challenges head-on, whether you’re looking to buy a home, support neighbors in need, or advocate for fair housing practices in your community.

1. Learn About Local Housing Rules and Speak Up

Many communities have zoning regulations that limit the type of homes that can be built, which can drive up housing costs. As a homeowner, prospective buyer, or concerned neighbor, you can:

• Get informed: Research zoning laws in your area to understand how they may be affecting housing.
• Get Involved: Attend city council or planning meetings to understand rules around new developments, affordable housing, and rental options.
• Support Change: Partner with local advocacy groups that work toward inclusive, mixed-income community developments and encourage your community to allow for diverse housing types (like duplexes or accessory dwelling units) in your neighborhood.

By getting involved locally, you can help create neighborhoods that welcome a range of housing options and price points.

2. Explore Accessory Dwelling Units (ADUs)

Accessory Dwelling Units (ADUs) are secondary housing units built on the same property as a single-family home, such as a basement apartment, garage conversion, or guest house. If you already own a home or are planning to buy one, consider an ADU, which can provide:

• Rental income to help offset mortgage costs or other expenses.
• Flexible living space for multi-generational families that include elderly parents, adult children, or extended family.
• Lower barriers to entry for renters or first-time homebuyers who need smaller, more affordable spaces.  

Check your local zoning laws to see if ADUs are allowed in your area and learn about financing and permitting processes to get started.

3. Tap Into Homeownership Resources and Financing Options

Buying a home can feel overwhelming, but there are many programs designed to help you along the way:

• Down payment assistance programs: These can reduce the upfront cost of buying a home, especially for first-time buyers.
• Low-Interest Loans or Low-Income Housing Tax Credit (LIHTC) rentals: Some areas offer subsidized mortgage rates or tax credits for affordable rentals, making monthly payments more manageable.
• Credit-building initiatives: If your credit score is holding you back, look for lenders who consider alternative credit data, such as on-time rent or utility payments.

Contact local housing counselors or nonprofit organizations to learn what’s available in your region – and don’t forget to ask about state or city-specific programs – which can significantly reduce your total cost of owning a home.    

4. Be Your Own Advocate with Mortgage Criteria

Traditional mortgage underwriting can sometimes overlook people who demonstrate financial responsibility in other ways – like paying rent on time every month or consistently making student loan payments. If you’re in the market for a mortgage:

• Build Your Case: Keep a record of on-time payments for rent, utilities, or other recurring bills to demonstrate your reliability.
• Explore Alternative Lenders: Some lenders use alternative credit evaluations to access financial responsibility, which could work in your favor.
• Know Your Rights: Learn more about fair lending practices to ensure you’re treated fairly throughout the process.

By seeking lenders and programs that look at the “full picture” of your finances, you can increase your chances of qualifying for a loan that fits your budget.

Build Community Support to Strengthen Neighborhoods

You don’t have to work in housing policy to make a difference in your own backyard. Sometimes, community support is just as influential:

• Volunteer with local housing nonprofits to support construction efforts, rehab projects, or financial literacy workshops.
• Organize or join neighborhood support networks to share resources like tools, legal advice, or connections to trustworthy contractors.
• Encourage open conversations about housing challenges, especially in community forums or online groups, to foster understanding and collaborative solutions.

When residents come together to address the need for affordable, stable housing, they help create prosperous and resilient neighborhoods.

Why Your Actions Matter

Having a home of your own provides security, equity, and a foundation for the future. Every improvement to local housing – be it building ADUs, exploring new mortgage options, or supporting neighbors – contributes to stronger communities and a more inclusive economy. By taking steps to advocate for fair, accessible housing, you help:

• Expand options for people at different income levels.
• Promote financial resilience in your neighborhood.
• Foster long-term prosperity for families and future generations.

As we celebrate Own Your Own Home Day this week, remember that your voice, choices, and community engagement can shape housing opportunities in powerful ways. By exploring new living options, speaking up at local meetings, and championing smarter lending practices, each of us can play a part in making homeownership more attainable – and in building a stronger, more vibrant future for everyone.