Wednesday, March 11, 2020

Black Homeownership Lower in 2019 than in 1999

The 2019 homeownership rate in the United States was 2.2 percentage points below the rate in 1999, according to the Census Bureau. The Black homeownership rate was 4.2 percentage points lower than it was two decades ago. Asians and Hispanics had higher rates in 2019 than in 1999, and the non-Hispanic White rate was about the same.

Homeownership Rate by Race and Hispanic Origin, 1999 to 2019
  total  Asian Black Hispanic NH White
2019  64.6%  57.7%  42.1%  47.5%  73.3%
2010  66.9  58.9  45.4  47.5  74.4
2004  69.0  59.8  49.1  48.1  76.0
1999  66.8  53.1  46.3  45.5  73.2
1999 to 2019   -2.2   4.6   -4.2    2.0    0.1

The U.S. homeownership rate peaked in 2004 at 69.0 percent. Between 2004 and 2019, the Black rate fell 7.0 percentage points, much greater than the decline in the homeownership rate of Asians (-2.1), Hispanics (-0.6), or non-Hispanic Whites (-2.7).

Source: Census Bureau, Housing Vacancies and Homeownership, 2019 Annual Statistics

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