Wealth Gains by Income and Racial/Ethnic Group

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Cover of the Wealth Gains by Income and Racial/Ethic Group report

This report looks at how homeownership can be a catalyst for building wealth for households in low-/middle- income and minority groups. NAR computed how people can increase their net worth through homeownership by income level and racial/ethnic group.


  • Low-income owners were able to build $98,900 in wealth in the last decade from home price appreciation only. Middle-income buyers were able to accumulate $122,100 in wealth as their homes appreciated by 68%. Upper-income households have built $150,800 in wealth since 2012.
  • Although Black homeowners experienced the smallest wealth gains among any other racial/ethnic group, these owners were able to accumulate over $115,000 in wealth in the last decade.
  • Along with the wealth gains that these owners were able to accumulate through price appreciation in the last decade, their debt has already dropped by 21%. While many owners were able to refinance and secure a rate lower than 4% during 2021, they may have paid off an even larger amount of their mortgage.