A new analysis of the rate of home ownership among Latinos in 2015 reported strong growth, with the overall rate improving from 44.5% to 46.7%, the largest one-year increase in more than a decade and the first time that Hispanic home ownership increased since 2009. The analysis, State of Hispanic Homeownership Report (download here, with registration), was produced by the Hispanic Wealth Project and the National Association of Hispanic Real Estate Professionals. HousingWire staffer Cynthia Barraza writes,
” Per the report, since 2000, Hispanics have accounted for 52% of the growth in U.S. homeownership. Over the past 15 years, Hispanics achieved a net gain of 2.8 million homeowners, from 4.2 million in 2000 to more than 7 million in 2015 — a growth rate of 67%. In contrast, there are 85,000 fewer non-Hispanic White homeowners now than in 2000.This confirms the findings of a recent study by the Urban Institute where it predicted that Hispanics will account for 52% of new homeowners between 2010 and 2030.
While the Hispanic population increased in California, it also increased in non-traditional markets in Alabama, South Carolina and Tennessee. In 2015, as the homeownership rate in the United States increased during the third quarter, Hispanics accounted for 486,000 new household formations, representing 37% of total household formations in the country.”
