Minority Homeownership Rates Continue to Lag Behind the National Average

The United States homeownership rate has recently seen a rebound to 65.1% in the fourth quarter of 2019 from a low of 62.9% in the second quarter of 2016. While the increase in the overall homeownership rate is encouraging, there continues to be a significant racial homeownership gap in America that needs to be addressed.

The ownership rate for non-Hispanic White Americans has been consistently above 71% from 2016 to 2019. In the same period, the homeownership rate for Black Americans has been 30 percentage points less – above 41%. For Hispanic Americans, the homeownership rate has held above 45%, and for Asian Americans it has been above 53% over the same time period.