Only half of Black families own their home in Washington, DC, which has the highest Black homeownership rate in the U.S., versus more than 70% of white families. Nationwide, the gap is 44% versus 73.7%.
Just 44% of Black families own the home they live in as of the first quarter of 2020, up from 41.1% in the first quarter of 2019, an increase that may reverse as the coronavirus pandemic upends one of the “most promising economies in recent memory” for Black Americans. For white families, the national homeownership rate is 73.7%, up slightly from 73.2% in the first quarter of 2019. The word “family” and “household” are used interchangeably in this report to refer to people living in housing units together.
“The homeownership gap between Black and white families is a problem that extends far beyond the realm of housing,” said Redfin economist Taylor Marr.