A recent study from the Joint Center for Housing Studies of Harvard University revealed that the black homeownership rate is not rebounding at the same levels of other races in the United States. In fact, with recent gains among white and Asian homeowners, the gap is much wider that it was 30 years ago with homeownership rates among blacks holding at the same percentage as it was in 1988.
The overall homeownership rate in the U.S. was measured at 64.4 percent in 2018. Asian and other minorities saw the highest gains – increasing 2.6 percentage points from 2016-2018. Whites and Hispanics homeownership rates increased by 1.1 percent but the black homeownership rate rose just 0.7 percentage points to 42.9 percent.
The homeownership rate increased a full percentage point in 2016-2018 to 64.4 percent in 2018. Asian and other minorities showed the highest increase at 2.6 percentage points, followed by whites and Hispanics each increasing by 1.1 percent, while the black homeownership rates rose by 0.7 percentage point. Following these increases, the white homeownership rate in 2018 was 73.0 percent, followed by Asian/other households at 57.0 percent, Hispanics at 47.1 percent, and blacks at 42.9 percent.