We live in a fast-evolving digital age, making ahigh-speed internet connectionjust as essential as running water and electricity.

A lesser-known discussion point around the broadband divide goes beyond a lack of digital connectivity.

Lack of fast internet – fiber specifically – negatively affectshome values, hurting long-term wealth-building.

It hinders the development of a skilled workforce and prevents businesses from fully participating in thedigital economy.

All of this leads it to be widely considered the gold standard of internet connections.

It is crucial for data-heavy activities.

Fiber-connected neighborhoods are experiencing significant appreciation inproperty values, while already marginalized communities are left further behind.

This figure stuck out to me as someone who covers thehousing marketfor a living.

In the personal finance community, homeownership is a widely accepted strategy for wealth-building andfinancial security.

The higher your property’s value, the bigger the profit when selling it.

The broadband divide shouldn’t hinder wealth-building through homeownership, but it does.

Why fiber internet is best

When it comes to speed, fiber internet is a game-changer.

It has the bandwidth to handle our country’s increasing demand for higher speeds and more data.

Cable internet signals can be affected by electromagnetic interference, weather conditions and signal loss over long distances.

Fiber simply offers better speed, bandwidth and longevity for your money.

Here’s a comparison between the different internet connection types and thespeed-to-price ratioeach offers.

All of these are factors that positively influence property values.

Therefore, its value directlyaffects your wealth accumulation.

As your home’s value rises, your net worth increases.

Any percentage increase in home value translates to a significant gain on your initial investment.

The broadband divide is a fiber divide: Who gets left behind?

Fiber is expensive to install.

Internet companies can make it work in cities because they get lots of customers in a small area.

“There’s a huge competition component here,” Liu said.

But it’s not just about availability.

The higher hurdle is getting people to actually adopt and use broadband, Whitacre said.

Despite its name, the broadband marketplace is the opposite of “broad” or a “marketplace.”

Even urban or metro areas have just a handful of internet options.

ISPs have little incentive to offer competitive pricing or improve service quality if they operate like avirtual monopoly.

The broadband – or fiber – divide isn’t just an economic issue.

But fiber internet is more than just a tool for staying connected.

It’s a catalyst for economic growth and upward mobility.

Broadly speaking, wealthier urban and suburban areas get access to fiber first.

While systemic change at the government level is crucial, there are ways you could help bridge the gap.

One is through informed voting.

But getting broadband isn’t just about infrastructure – plenty of people can use it but don’t.

Another option is to volunteer your time to teach digital skills in your community.

Empowering more people to utilize the internet can drive up adoption rates and ensure access translates to real opportunity.

It’s a consideration that buyers should weigh alongside other factors like location, size or condition.