Approximately 100 million renters in the United States face a significant financial knowledge gap that keeps them from transitioning to homeownership, according to Steven Libman, founder of Investing With Purpose. Libman argues that this gap, stemming from a lack of education in schools and at home, represents both a societal failure and an opportunity to create meaningful change through faith-driven community investment.
The wealth disparity between homeowners and renters is stark: the average homeowner has a net worth of over $350,000, while the average renter has about $10,500. Libman asserts that this gap is not primarily about income but about knowledge, access, and compounding decisions made without proper information. For 15 years, through his work in multifamily real estate, Libman has developed a model where financial literacy is a central pillar of resident services, now advanced through Investing With Purpose.
A live example of this model operates at a 418-unit property in Lubbock, Texas, owned by Integrity Holdings Group (IHG), a firm Libman co-founded. The property runs a financial literacy program in partnership with Dave Ramsey’s Financial Peace University, delivered by on-site ministry coordinators. The program covers debt reduction, credit building, and savings strategies—free for residents. This Asset Ministry Program framework aligns with the mission Libman is building at scale through his new firm.
What makes the Lubbock program notable is the pathway it creates. The community consists of individually deeded duplexes, and residents who complete the program and hit qualifying milestones can purchase their own unit, transitioning from tenant to homeowner—and in some cases, to landlord. "Maybe the single mom who thought she would be renting forever is, two years later, a landlord," Libman said. "That changes the trajectory for her and her kids." Partnerships with local credit unions and banks facilitate these purchases.
The financial literacy program is not just philanthropy; it yields tangible business benefits. Retention data shows that residents with strong social ties in a complex are 45 to 50 percent less likely to leave. Lease attrition at properties running structured community engagement drops by 40 to 50 percent, reducing turnover costs and stabilizing income. "The financial literacy program is not a cost center," Libman explained. "It is an investment in the stability of the community, which is an investment in the stability of the asset."
Investing With Purpose is also developing summer tutoring and kids’ programming at several portfolio properties to address learning gaps among children in multifamily housing during school breaks. The goal across all initiatives is to meet real needs, build genuine connection, and create environments where people want to stay.
While the Lubbock program is still early, the framework is replicable and being applied across a growing portfolio. The broader question it raises for the real estate industry is about operator responsibility. "Where people live affects almost everything their life touches," Libman said. "The communities they are building, the people they are with, if we can impact somebody’s life inside a community, and then you see the butterfly effect of that, it is immeasurable." More information is available at investingwithpurpose.org/impact.
