Zillow: COVID-19 Layoffs Threaten Housing Security For Minorities – NMP Skip to main content

Zillow: COVID-19 Layoffs Threaten Housing Security For Minorities

Apr 27, 2020
People of different races having a discussion. Credit: iStock.com/funky-data
Director of Events

Massive number of job losses in the food, arts and retail industry.

New analysis from Zillow shows that the massive number of job losses in the food, arts and retail industry are going to cause Latin, Asian and African-American households to feel more of an impact on their housing security. The report claimed that 8.3% of White workers are employed among those three job categories, in comparison to the 12.7% of Latin workers, 10.2% of Asian workers and 10.1% of African-American workers.
 
"If these workers were to go without income for two months, only White households would stay within the affordability guideline at 29.4%—Black households would jump to 33.2% of income spent on rent, Latinx households to 34.8% and Asian households to 35.7%," according to the Zillow report. "In a more severe scenario where workers would go four months without pay, that would rise to 35.3% for White households and at least 40% for non-White households."
 
Relief provided from the CARES Act would reduce rent burden for White households by 19%, compared to Asian households, which would have their burden reduced by 22.8%. 
 
"This analysis highlights the financial tightrope many households walk in our vital service industries," said Skylar Olsen, senior principal economist at Zillow. "While it's encouraging that many who receive government assistance appear to be on solid footing for a few months, it's important to remember that some workers will see labor disruptions, such as a loss of hours, that don't qualify them for these unemployment benefits that are so crucial right now. And if the pandemic were to last beyond the summer, it could have lasting impacts that push many more into housing insecurity." 
 
Click here to view a full copy of Zillow's report. 
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Apr 27, 2020
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

Sep 23, 2026
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Sep 22, 2026