New Data Shows Stark Disparities in Homeownership Rates Between Populations

The Enterprise Policy Development & Research team has updated its interactive report on trends in housing tenure – that is, whether people own or rent — using data from the U.S. Census Bureau’s third quarter 2018 Housing Vacancy Survey (HVS). The interactive graphics in the report, which break down tenure trends by age, race/ethnicity and income, reveal stark disparities in the share of homeowners among these subsets of households, as well the narrowing of some tenure gaps and the expansion of others. While homeownership among Hispanic, Asian and non-Hispanic White households has increased to 47.1, 55.7 and 72.8 percent, respectively, over the past two years, rates for non-Hispanic Blacks have been nearly flat at 42 percent, creating the widest gap with non-Hispanic White households in this 25-year series. Households with incomes above the national median have a homeownership rate above 78 percent, but the homeownership rate among below-median-income households rose to over 50 percent for the first time since 2013. Addressing these gaps will require action at the local, state and federal levels, including local and regional zoning reforms that can reduce barriers to building more affordable rental housing and national-level initiatives that can increase access to homeownership.

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