HousingWire
While the white homeownership rate still leads all racial groups in the U.S., Black homeowners have had some significant gains recently.
The Black homeownership rate saw the largest year-over-year increase of all racial groups in 2023, according to data released Monday by the National Association of Realtors® (NAR). But this growth was also hampered by consistent challenges.
NAR’s 2025 Snapshot of Race and Home Buying in America explores how racial demographics, affordable housing availability and access to financing can shape trends in the U.S. housing market.
“This report provides the housing ecosystem with in-depth information about how racial and ethnic groups approach the housing market,” Jessica Lautz, NAR’s deputy chief economist and vice president of research, said in a statement. “It helps industry professionals by providing detailed local information about challenges and success.”
According to the report, the Black homeownership rose to 44.7% in 2023, an increase of 60 basis points from the year before that was driven by more Black first-time homebuyers. While that is the highest yearly gain among all races, it is still well below the white homeownership rate, which was 72.4% in 2023 (up 0.1%). Black homeownership also lagged behind Asians (63.4%) and Hispanics (51%).