June is recognized annually as National Homeownership Month, but the issue of housing is worthy of continual consideration.

For all intents and purposes, our homes are the foundation of our lives. In homes, friends and family congregate to celebrate special occasions. In homes, families gather around the dinner table. In homes, young couples dream about the rest of their lives. Homes are where memories are made.

We are fortunate that for many Iowans, homeownership is a realistic goal. Just more than 72 percent of Iowans own a home; nationally that number is 66.2 percent. The extreme housing valuation increases that plague other states are not as serious an issue here, where interest-only loans or 40-year mortgages are the exception rather than the norm. Our stable economy, strong communities and top-notch quality of life make Iowa an ideal place for hard-working citizens to put down roots and ensure their financial futures through homeownership.

Still, Iowa faces its own unique challenges in providing quality, affordable housing for its citizens. Upwards of 14 percent of our current homeowners spend more than 30 percent of their gross household income on housing costs.

The suburbanization of our state’s population is driving housing growth in the suburbs, where many of the new homes are priced too high for lower-income residents who work in those places. The disproportionate growth of our urban centers also leaves many rural homes in disrepair. Nearly 32 percent of Iowa’s housing stock was built prior to 1940; nationally that number is 15 percent.

Iowa’s demographic shift means the population in rural areas is aging, and many elderly people living on fixed incomes struggle to retrofit their older homes or even to perform basic maintenance.

The ever-increasing ethnic diversification of our state also affects homeownership. Hispanics are the fastest-growing immigrant group in Iowa, yet an increasing number of them aren’t able to afford homes here. The homeownership rate among Hispanics fell from 50.3 percent in 1990 to 46.6 percent now. Only 37.7 percent of African-Americans in our state own homes, compared with 46.3 percent in the United States. As Iowa’s ethnic population grows, the demand for affordable housing also increases.

Along with several housing advocates around the state, the Iowa Finance Authority (IFA) is working to ensure that all Iowans have access to safe, decent and affordable housing.

Recently Gov. Chet Culver signed a bill that will provide $2.5 million to supplement the State Housing Trust Fund. In the next few months, IFA will award this money to community and housing-related organizations around the state to aid local housing programs that provide low-interest loans and grants.

It is our hope that the State Housing Trust Fund and similar programs will continue to grow in Iowa so that our neediest citizens can attain and maintain adequate housing, improving their own lives and making Iowa the best state it can be.

Bret Mills is the executive director of

the Iowa Finance Authority, a self funded

public agency focused on

affordable housing and community

and economic development.