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A Look at Homeownership Rates Through the Lens of Race and Ethnicity

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A Look at Homeownership Rates Through the Lens of Race and Ethnicity

Data show significant differences in rates of homeownership in the US by race and ethnicity

February 6, 2024
Asian couple who have just bought a new home
Image: DragonImages / stock.adobe.com

The latest Current Population Survey/Housing Vacancy Survey (CPS/HVS) housing inventory from the U.S. Census Bureau shows that the overall homeownership rate in the U.S. was 65.7% during the last quarter of 2023—3.5 percentage points lower than the 69.4% peak in 2004, the National Association of Home Builders' Eye On Housing reports.

During Q4 2023, the homeownership rate among non-Hispanic White Americans was 73.8%, followed by Asian Americans followed with a rate of 63%, Hispanic Americans (49.8%), and Black Americans (45.9%).

The data indicate a narrowing gap in homeownership between Black Americans and non-Hispanic White households from 30.2 percentage points in 2013 to 27.9 percentage points in 2023.

Hispanic Americans experienced a large increase in homeownership rate in the past 10 years. This rate increased from 45.5% in 2013 to 49.8% in the last quarter of 2023. The homeownership rate of Asian, Hawaiian and Pacific Islander Americans has reached a record high of 63% since Census Bureau began tabulating it separately from the “All other Race” category.

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