The nation’s Hispanic population recorded a net gain of 362,000 homeowners last year, resulting in an increased Hispanic homeownership rate from 46.2 percent in 2017 to 47.1 percent in 2018, according to a study from the National Association of Hispanic Real Estate Professionals (NAHREP).
The newly published “2018 State of Hispanic Homeownership Report” determined that Hispanics accounted for 62.7 percent of net U.S. homeownership gains over the past decade, with 7.8 million Hispanic homeowners. And while the Hispanic homeownership rate is still below its 2007 peak at 49.7 percent, NAHREP found that Hispanics were the only ethnic demographic group to raise their rate of homeownership. Furthermore, in nearly every state where Hispanics account for greater than 30 percent of the state’s population, their rate of homeownership is above 50 percent—California was the only exception, where Hispanics comprise 38.8 percent of the state’s population and have a 43.07 rate of homeownership.
NAHREP also noted that the nation’s 58.9 million Hispanics account for 18.1 percent of the overall U.S. population. By 2045, NAHREP added, non-Hispanic Whites will become 49.7 percent of the total population while Hispanics will account for 24.6 percent of the U.S. population and other racial or ethnic groups will account for the remaining percentage.