Race and homebuyiing stats

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Race and homebuyiing stats

While the homeownership rate in the United States grew between 2013 and 2023, with all racial and ethnic groups seeing gains, gaps between groups persist. In fact, when it comes to the Black homeownership rate, the gap between it and the other groups actually grew over the past decade — despite posting the largest increase of all groups in 2023 — according to the National Association of REALTORS’® (NAR) annual Snapshot of Race and Home Buying in America. 

Among the major racial groups 

Among the major racial groups combined — Asian, Black, Hispanic and white — the homeownership rate grew from 63.5% in 2013 to 65.2% in 2023. That translates to 11.8 million more homeowners in 2023, the latest year for which NAR’s data, drawn from the Census Bureau’s yearly American Community Survey, was available. 

While the change in the rate between 2013 and 2023 shows an overall increase, it was not steady, with year-over-year dips in 2014, 2015 and, most recently, 2022. The swing back to positive territory in 2023 came thanks to strong demographic shifts and wage growth. This is in spite of high mortgage rates and housing markets hitting their lowest point in almost 30 years, NAR said. 

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