Skip to main content

Report Details Hispanic Homeownership Trends

Mar 15, 2016
Hispanic homeownership rates reached 45.6 percent at the end of 2015

Hispanic homeownership rates reached 45.6 percent at the end of 2015, according to the State of Hispanic Homeownership Report issued by the Hispanic Wealth Project in collaboration with the National Association of Hispanic Real Estate Professionals (NAHREP).

The new report determined that Hispanics achieved a net increase of 245,000 owner households last year, comprising more than two-thirds of the total net growth in U.S. homeownership. Hispanics were the only major racial or ethnic demographic group to raise their homeownership rate in 2015.

Furthermore, Hispanics accounted for 486,000 new household formations last year, representing 37 percent of total household formations in the country. The annual median income of Hispanic households saw a 7.3 percent increase from $39,600 in 2012 to $42,492 in 2014, while the poverty rate among Hispanics fell to 23.7 percent. And for those keeping an eye on the Millennials, the report noted that roughly 21 percent of the nation’s Millennials self-identified as Hispanic.

“The Hispanic homeownership numbers were very encouraging and all leading indicators strongly suggest that the trend will continue,” said Joseph Nery, NAHREP president, “Policymakers and the housing industry need to recognize that the face of homeownership in America has changed and it is in everyone’s interest to ensure that these new consumers have access to relevant lending products, affordable housing stock and culturally competent service providers in the coming years.”

About the author
Published
Mar 15, 2016
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024