Sneak Peek: 2022 State of Hispanic Wealth Report
Celebrating NAHREP familia, cultura, politics, and grassroots action
September 15, 2022
Qué onda mi gente?!
In the fall of 2018, I had the opportunity to travel to Puerto Rico for a conference addressing the aftermath of Hurricane Maria. I had just started at NAHREP and was still getting acclimated to the culture of the organization. During that trip, I had the opportunity to get to know the Puerto Rico chapter well. It was through conversations with NAHREP leaders like Eric Haddock, Francisco Fernández, Enrique Morales, and Ivelisse Lopez, that it clicked for me that there was so much more to NAHREP than meets the eye. NAHREP isn’t just a professional network or simply a group that advocates for homeownership opportunities for Latinos. It is an organization that lives, breathes, and sleeps wealth creation, grit, and economic mobility for themselves and for the broader Latino community. As an organization that is working to bridge the network, I realized that was the secret sauce – the culture. I was hooked.
Despite money being a taboo topic of conversation among Latino circles, the NAHREP 10 Disciplines and the formation of the Hispanic Wealth Project, have made building generational wealth a part of the ethos of the organization. As a result, Latinos in the NAHREP network have had astounding results. For this year’s State of Hispanic Wealth Report, we surveyed our members to understand how they’re faring when it comes to wealth creation. The NAHREP membership is an example of how networks, narrowing knowledge gaps, and a zealous community’s pursuit of the American dream can offer a roadmap for closing the wealth gap.
Here’s a sneak peek of this year’s State of Hispanic Wealth Report
Four times the net worth of the overall Latino population nationwide: More than three-quarters (80.8 percent) of NAHREP members have a net worth of at least $150,000, more than four times the median net worth of Latinos in the U.S., while 29.4 percent have a net worth of at least $1 million.
Nearly all NAHREP members are homeowners, with 86.1 percent owning some form of real estate, nearly twice the overall homeownership rate for Latinos in the U.S. NAHREP members invest in real estate at nearly 7 times the rate of Latinos overall, with 58.7 percent owning investment property outside of their primary residence.
NAHREP is a network of entrepreneurs: The majority of NAHREP members (68.6 percent) own a business, while 58.3 percent of NAHREP business owners are sole proprietors or independent contractors. Employer firms make up 31.5 percent of businesses within the NAHREP network, compared to only 6 percent of Latino-owned businesses overall.
NAHREP members are diversified: Three-quarters (74.7 percent) of NAHREP members invest in a retirement or brokerage account, significantly outpacing the general Latino population. Asset diversification is directly tied to household wealth. More than half (56.4 percent) of NAHREP members who invest in the stock market have a net worth of $500,000 or more, compared to 38.8 percent of those who don’t.
About Noerena Limón
Noerena Limón is NAHREP’s Executive Vice President of Public Policy and Industry Relations. Noerena heads the organization’s policy and advocacy efforts on issues ranging from homeownership, housing inventory, credit access and immigration.
Prior to joining NAHREP, Noerena spent six years at the Consumer Financial Protection Bureau (CFPB) and served as a political appointee under President Obama in the White House Office of Political Affairs.