A new LendingTree analysis of American Community Survey data finds Black homeownership significantly trails white households across the 50 largest U.S. metros, reflecting persistent income, credit, and housing value disparities
Rate falls about 3.1% YoY in largest drop since 3Q 2021, report finds
Though homeownership rates among Black Americans have improved, they still lag behind other racial groups
Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups
Homebuyers now need $117K — 82% more than renters — to afford monthly costs, up from a 73% gap last year, Redfin reports
As prices soar and options shrink, younger generations fall further behind their parents on the path to homebuying
By extending $20 billion in new mortgages to Black homebuyers by the year 2028
Nearly one in four Black mortgage applicants are denied, versus one in 10 white applicants.
Analysis reveals Black millennials and Gen Zers trail significantly behind their white counterparts in homeownership.
