Kevin Sears President | Official website
The U.S. Black homeownership rate recorded the largest annual increase among racial groups in 2023, yet it remains nearly 30 percentage points behind the White homeownership rate. This data comes from the National Association of Realtors (NAR) 2025 Snapshot of Race and Home Buying in America.
Jessica Lautz, NAR deputy chief economist and vice president of research, commented on the report: "This report provides the housing ecosystem with in-depth information about how racial and ethnic groups approach the housing market. It helps industry professionals by providing detailed local information about challenges and success."
Despite a rise to 44.7%, Black homeownership is still significantly lower than that of Whites at 72.4%. Other racial groups such as Asians and Hispanics have homeownership rates of 63.4% and 51.0%, respectively.
Overall, the U.S. homeownership rate increased to 65.2% in 2023 from 63.5% a decade ago, reversing a decline observed in previous years.
Hispanic Americans saw their homeownership rate grow by +5.8 percentage points over the last decade, marking the most substantial increase among all racial groups since 2013.
Lautz further noted: "Today's first-time home buyers continue to face housing affordability and credit-access challenges, but the situation nationwide varies when assessing purchasing power."
Homeowners insurance costs have risen by 53% over ten years, with Black homeowners paying more than any other group for insurance at $1,360 annually.
In terms of buyer demographics, White individuals accounted for the largest share at 83%, while Black buyers made up just 7%.
"Non-White home buyers are more likely to be first-time buyers," Lautz added, emphasizing shifting demographics that could lead to increased non-White homeownership over time.
NAR continues its advocacy efforts to close these gaps through policy solutions aimed at supporting first-time and minority buyers with down payment assistance programs and updated credit scoring models.
For further details on navigating real estate transactions or for consumer guides offered by NAR, visit facts.realtor.
