The U.S. has 42 million immigrants, accounting for 13 percent of the total population, and 41 percent of immigrants owned homes in 2016. This means that a lot of homeowners are on edge when it comes to new policies and regulations regarding immigration.
Realtor.com explored how immigrants have affected the housing market over the last three decades.
Immigrant homeownership rates lag below native-born ownership rates (66 percent), and it usually takes an immigrants between five to 10 years after arrival to buy homes at similar rates as native-born Americans. Immigrants have tended to buy homes where the opportunity is: Struggling cities, such as in the Rust Belt, where other residents are leaving and homes can be purchased for a reasonable price.
Once they move in, many start businesses, spend money locally, and increase the demand for housing—all of which lead to the stabilization or boost in property values.
Immigrants who are faring well, such as high-earning, skilled workers living in Silicon Valley, aren’t too concerned about tightening immigration policies from the Trump Administration, but working-class immigrants, primarily from Mexico, fear that they may lose their homes.
Advertisement
Related Stories
Off-Site Construction
Utah Passes Bill to Regulate Modular Construction at the State Level
Goals for housing innovation and affordability meet in Utah's passage of a new bill that establishes a statewide modular construction program
Government + Policy
Biden's Proposed Fixes for Housing Affordability
In his State of the Union address, President Biden proposed several actions to improve housing affordability and supply
Government + Policy
Biden Administration Extends Federal Housing Financing Program
Funds from the program are used to develop or rehabilitate affordable rental homes, helping boost US housing supply