The total value of homes in majority-Hispanic neighborhoods rose to $2 trillion in 2024, according to a new analysis by Redfin, but that figure reflects the slowest year-over-year growth rate — 4.2% — among all major racial and ethnic groups.
In comparison, majority-white neighborhoods saw a 5.4% increase to $40.4 trillion, while majority-Black and majority-Asian neighborhoods both posted growth above 5%. Mixed-race areas grew by 4.7% to reach a total value of $2.4 trillion.
The data, based on Redfin’s analysis of census tracts where a single group owns more than 50% of homes, highlights how geographic concentration in softening Sun Belt housing markets has limited appreciation in Hispanic communities. Areas like Texas and Florida, where many majority-Hispanic neighborhoods are located, have seen home prices stagnate due to a pandemic-era construction boom and rising supply.
In contrast, Northeast and Midwest markets — where majority-white neighborhoods are more common — experienced stronger price growth.
At the individual level, the average home value in majority-Hispanic neighborhoods rose just 3.4% in 2024 to $395,000, the smallest increase among the groups analyzed. By comparison, the average home in majority-Asian neighborhoods grew 4.8% in value to $1.13 million, while homes in majority-Black and white neighborhoods each saw gains of 4.7%.
Redfin Economic Research Lead Chen Zhao noted that these slower gains carry heightened significance for Hispanic households.
“Hispanic homeowners have experienced higher highs and lower lows during the real estate market’s wild ups and downs over the past 20 years,” Zhao said. “Hispanic home values fell furthest following the global financial crisis in 2008 and they rose the most at the peak of the pandemic homebuying spree in 2021. With a higher share of their net worth tied to real estate, market fluctuations matter more to Hispanic families and can impact how much they can afford to spend or borrow. It also means that when Hispanic home values grow slower, or fall, the wealth gap between white and Hispanic families increases.”
According to the report, 61.6% of Hispanic households’ net worth is tied to real estate, significantly more than the 27.4% share among white households. That means even modest disparities in housing value growth can widen racial wealth gaps.
