Hispanic Homeownership Up for 5th Straight Year

The National Association of Hispanic Real Estate Professionals released the 2019 State of Hispanic Homeownership Report, noting the Hispanic homeownership rate increased for the fifth consecutive year.

The report said Hispanics achieved a net gain of 277,000 homeowners in 2019, raising the Hispanic homeownership rate to 47.5 percent.

“Strong gains in household income coupled with an overwhelming drive for homeownership has led to five consecutive years of Hispanic homeownership growth,” said Gary Acosta, NAHREP Co-Founder & CEO. “The youthfulness, work ethic and resilience of the Hispanic community will play a critical role in the revitalization of America’s post-pandemic economy.”

Other report findings:

Hispanics are the only demographic with five consecutive years of gains.

–Hispanic homeownership grew the most in Houston, Dallas, New York/Jersey City, Riverside/San Bernardino, Calif., and Phoenix.

–In 2018, Hispanics injected $371 billion into the economy through the housing market alone, more than tripling their contributions since 2000.

–The outlook for continued homeownership growth is “compelling,” the report said, with more than 4.9 million Hispanic millennials with the credit characteristics strong enough to qualify for a mortgage.

The report is available for download at www.nahrep.org/shhr.