Skip to main content

Hispanic Homeownership Rate Inches Higher

Phil Hall
May 08, 2018
The Hispanic homeownership rate reached 46.2 percent in 2017, according to the 2018 Annual Report from The Hispanic Wealth Project

The Hispanic homeownership rate reached 46.2 percent in 2017, according to the 2018 Annual Report from The Hispanic Wealth Project, a nonprofit organization supported by the National Association of Hispanic Real Estate Professionals (NAHREP).
 
Last year, 7.47 million Hispanics were homeowners, an increase of 167,000—or 0.2 percent—from the 2016 level. Hispanics accounted for 15 percent of the net homeownership gains in 2017 and were the only demographic to have increased their rate of homeownership for the last three consecutive years.
 
Still, the report noted that many Hispanics are removed from being able to pursue homeownership. “Currently, the median Hispanic household is a renter, without access to the wealth generating properties home equity has to offer,” the report noted. “However, at a 50 percent Hispanic homeownership rate, the median Hispanic household would be an owner household, unlocking access to a primary source of wealth creation.”
 
The report also determined the median net worth of Hispanics rose from $13,700 in 2013 to $20,600 in 2016, while women entrepreneurs represented 50 percent of all Hispanic small business start-ups.
 
"With the youngest population and the highest work force participation in America, it is clear that the financial well-being of the Hispanic community is critical to the economic strength of the whole country," said Jerry Ascencio, Chairman of the Hispanic Wealth Project.

 
Published
May 08, 2018
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021