Homeownership gap between Black and White owners is worse now than a decade ago

Black Homeownership Gap Persists in the US #

Homeownership rates among minority groups have been on the rise, but the gap between Black and White homeownership remains significant. According to a recent report, the Black homeownership rate increased slightly to 44.1% in 2022 compared to 44% in 2021. However, the White homeownership rate stands at 72%, maintaining a considerable disparity. Over the past decade, the gap between the two groups’ homeownership rates has widened from 27 to 28 points. The path to homeownership for minority buyers still faces challenges, including housing affordability and limited inventory. These obstacles are amplified for Black homebuyers, who also face higher student debt and income disparities. Despite these barriers, advocates encourage homeownership as a means to create generational wealth.