Home ownership is a significant driver of wealth in the U.S., but rates of home ownership vary significantly across demographic groups. A recent NAHB special study explores the differences in home-ownership rates between Hispanic or Latino households and white households, as well as rates between black households and white households. NAHB’s Eye on Housing reports:
Hispanic or Latino home ownership rates are, in general, highest in counties in the Southwest region of the US, particularly in Texas, New Mexico, and Arizona. The US household share of Hispanics or Latinos living in these states is about the same share as in California, where home ownership rates among this group are generally lower.
In addition, the study found that county-level gaps between the white home ownership rate and Hispanic or Latino rate are generally larger in the Northeast and smaller in the Southwest. Even when controlling for variables like income, marriage rates, and age, the Hispanic or Latino home ownership rate remains about 11% lower than the white home-ownership rate.
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