The Black homeownership rate saw a modest annual uptick to 44.1% in 2022 from 44% in 2021, but remains significantly behind the White homeownership rate of 72%, the report found.
A stubborn racial homeownership gapEven with some improvement in the Black homeownership rate, the change has done little to close the yawning gap between Black and White homeownership.
Over the past decade, the gap between the two groups’ homeownership rates has worsened, expanding from 27 points to 28 points.
Other states with high Black homeownership rates include South Carolina and Delaware, each at 55%.
Plus, the median household income for Black Americans was $47,800 in 2022, while the median income for White Americans was $75,700.
Persons:
Sharan White, Jenkins, “, ”, ” White, Black, homeownership, Jessica Lautz, Black homebuyers, ” Lautz
Organizations:
DC CNN, National Association of Realtors, American, Survey, Census Bureau, NAR, Joint Center for Housing Studies of Harvard University, Black, White
Locations:
Washington, Jamaica, Queens, New York City, Virginia, Brooklyn, Queens , New York, Wyoming, North Dakota, Mississippi, Black, South Carolina, Delaware