Publication Date
5-1-2023
Keywords
black households, homeownership, United States, white households, housing practices
Volume
2023
Abstract
The black and white homeownership gap in the United States is the difference in the percentage of black and white households that own homes. In 2020, the homeownership rate for black households was 43.4% while the homeownership rate for white households was 72.1%. The housing gap developed due to discriminatory housing practices such as redlining and the subprime crisis. As a result, black households faced high barriers to homeownership and were unable to transfer the benefits of homeownership to future generations. While white households entered homeownership and provided assets for themselves and their posterity, black households fell further behind. The homeownership gap contributes to the larger black and white wealth gap. Wealth and financial security are important for higher education, financial crises, investments, and other situations that provide stability and opportunities. Several programs across the United States provide down payment assistance to homebuyers, which helps black households overcome one of the largest barriers to homeownership.
Recommended Citation
Chugg, Hanna
(2023)
"The Homeownership Gap between Black and White Families in the United States,"
Ballard Brief: Vol. 2023:
Iss.
2, Article 1.
Available at:
https://scholarsarchive.byu.edu/ballardbrief/vol2023/iss2/1