What's Behind the Spike in Homeownership Rates Among Asian Americans, Hispanics –USA Today

USA Today

Minority homeowners such as [Juan Carlos] López have increased their rates of homeownership in the last year, despite rising mortgage rates, according to a new analysis of race and homeownership trends by the National Association of Realtors® (NAR). Asian and Hispanic homeownership have reached all-time highs.

In its 2024 Snapshot of Race and Home Buying in America, based on U.S. Census Bureau data from the American Community Survey in 2022, the NAR research staff found that:

  • Asian household homeownership rose the most, with 63% of Asian households being homeowners.
  • Hispanic household homeownership had a considerable rise to 51.1% of Hispanic households.
  • Black household homeownership had the smallest increase, reaching 44.1%.

But there is still a large racial disparity between the percentage of minority homeowners and their white counterparts because of variations in income, education and access to resources.

"Minority homeownership gained ground this year, with Asian and Hispanic homeownership hitting record highs," Jessica Lautz, NAR deputy chief economist and vice president of research said in a statement. "While the gains should be celebrated, the pathway into homeownership remains arduous for minority buyers."

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