Racial Equity in Housing
The Black-White homeownership gap is wider today than when the Fair Housing Act was passed in 1968. Systemic inequities in lending, appraisals, and policy continue to shape who can build wealth through housing.
White Homeownership
š74%
Highest of any group
Black Homeownership
š45%
29-point gap vs White
Hispanic Homeownership
š49%
Growing but still behind
Asian Homeownership
š”63%
Varies widely by origin
Homeownership Rate by Race (1990ā2025)
Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey
Mortgage Denial Rates by Race & Income
Source: HMDA Data, CFPB, 2023
Housing Cost Burden by Race
Source: Joint Center for Housing Studies, Harvard
Median Home Equity by Race
Source: Federal Reserve Survey of Consumer Finances, 2022
Historical Context
Redlining Legacy (1930sā1968)
The Home Owners' Loan Corporation (HOLC) systematically denied mortgages and insurance to Black neighborhoods. 74% of neighborhoods redlined in the 1930s remain low-to-moderate income today.
The Racial Wealth Gap
The typical White family holds 8x the wealth of the typical Black family. Housing equity is the largest component of wealth for most families, making homeownership disparities a key driver of the wealth gap.
Subprime Targeting
Black and Hispanic borrowers were 2ā3x more likely to receive subprime loans, even with similar credit profiles. The 2008 crisis erased a generation of minority homeownership gains.
Ongoing Disparities
Black applicants are denied mortgages at nearly 2x the rate of White applicants at every income level. Appraisal bias undervalues homes in Black neighborhoods by an estimated $48,000 on average.