Racial homeownership gap widens as Black buyers struggle to secure loans amid persistent discrimination and redlining, analysis finds

Thu, 03/02/2023 - 12:40

building block house next to a stack of coins — The number of homeowners increased by over nine million between 2011 and 2021, but Black individuals didn't make up much of that gain, an analysis found.
Sakchai Vongsasiripat/Getty Images

The rate of Black homeownership in the US has increased by less than one percent over the last , the National Association of Realtors found.
On Tuesday, an Ohio-based bank paid millions to the Justice Department after being accused of redlining Black buyers.
New scoring models by the Federal Housing Finance Agency suggest homeownership could become more accessible for Americans.

The rate of homeownership is increasing for all Americans, but the racial gap between Black homeowners and all other races and ethnic groups continues to persist.