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Editor’s Note: This story was originally construction scope.
Homeownership offers the following opportunities: accumulate wealth Keeping housing costs relatively constant over the long term both contribute to financial stability.
However, the benefits of homeownership are not experienced equally. Significant racial disparities in home ownership rates sustained For decades, it has led to large racial wealth disparities among some minority groups.
The minority homeownership gap, defined here as the difference between white homeownership rates and minority homeownership rates, hovered around 25 percent for many years.
Minority homeownership gaps vary across the United States due to factors such as local demographics and past homeownership rates.
To identify where the gaps in minority homeownership are largest, Construction Coverage researchers analyzed the latest data from the U.S. Census Bureau.
The researchers ranked large cities according to the minority homeownership gap, defined as the percentage point difference in homeownership rates between whites and minorities. The researchers also calculated minority median property values and white median property values. Minorities are people who are not non-Hispanic white.
Here are the US metropolitan areas with the largest minority homeowner gaps:
15. Boston-Cambridge-Newton, Massachusetts-New Hampshire
- Minority Ownership Gap (percentage points): -27.4
- Minority home ownership rate: 42.7%
- White Home Ownership Rate: 70.2%
- Minority median property values: $532,000
- White middle property value: $505,000
14. Detroit-Warren-Dearborn, Michigan
- Minority Ownership Gap (percentage points): -27.9
- Minority home ownership rate: 52.7%
- White Home Ownership Rate: 80.5%
- Minority median property values: $150,000
- White middle property value: $232,000
13. Hartford – West Hartford – East Hartford, Connecticut
- Minority Ownership Gap (percentage points): -28.7
- Minority home ownership rate: 48.2%
- White Home Ownership Rate: 76.9%
- Minority median property values: $240,000
- White middle property value: $280,000
12. Columbus, Ohio
- Minority Ownership Gap (percentage points): -28.7
- Minority home ownership rate: 40.3%
- White Home Ownership Rate: 69.0%
- Minority median property values: $220,000
- White middle property value: $250,000
11. Pittsburgh, Pennsylvania
- Minority Ownership Gap (percentage points): -28.8
- Minority home ownership rate: 46.5%
- White Home Ownership Rate: 75.3%
- Minority median property values: $175,000
- White middle property value: $190,000
10. Providence – Warwick, RI-MA
- Minority Ownership Gap (percentage points): -28.8
- Minority home ownership rate: 40.8%
- White Home Ownership Rate: 69.6%
- Minority median property values: $310,000
- White middle property value: $350,000
9. New York-Newark-Jersey City, NY-NJ-PA
- Minority Ownership Gap (percentage points): -29.0
- Minority home ownership rate: 38.8%
- White Home Ownership Rate: 67.8%
- Minority median property values: $500,000
- White middle property value: $500,000
8. St. Louis, Missouri
- Minority Ownership Gap (percentage points): -29.3
- Minority home ownership rate: 49.5%
- White Home Ownership Rate: 78.9%
- Minority median property values: $160,000
- White middle property value: $210,000
7. Louisville/Jefferson County, KY-IN
- Minority Ownership Gap (percentage points): -30.9
- Minority home ownership rate: 45.2%
- White Home Ownership Rate: 76.1%
- Minority median property values: $180,000
- White middle property value: $215,000
6. Cincinnati, OH-KY-IN
- Minority Ownership Gap (percentage points): -30.9
- Minority home ownership rate: 43.8%
- White Home Ownership Rate: 74.7%
- Minority median property values: $180,000
- White middle property value: $210,000
5. Memphis, TN-MS-AR
- Minority Ownership Gap (percentage points): -31.1
- Minority home ownership rate: 47.4%
- White Home Ownership Rate: 78.6%
- Minority median property values: $150,000
- White middle property value: $250,000
4. Rochester, New York
- Minority Ownership Gap (percentage points): -31.7
- Minority home ownership rate: 43.3%
- White Home Ownership Rate: 75.0%
- Minority median property values: $150,000
- White middle property value: $175,000
3. Buffalo, NY – Cheektowaga – Niagara Falls
- Minority Ownership Gap (percentage points): -32.0
- Minority home ownership rate: 42.2%
- White Home Ownership Rate: 74.2%
- Minority median property values: $150,000
- White middle property value: $195,000
2. Milwaukee – Waukesha – West Alice, Wisconsin
- Minority Ownership Gap (percentage points): -32.2
- Minority home ownership rate: 38.8%
- White Home Ownership Rate: 71.0%
- Minority median property values: $170,000
- White middle property value: $280,000
1. Cleveland Elyria, Ohio
- Minority Ownership Gap (percentage points): -34.7
- Minority home ownership rate: 41.4%
- White Home Ownership Rate: 76.0%
- Minority median property values: $130,000
- White middle property value: $200,000
methodology
To identify where the gap in minority homeownership is largest, Construction Coverage researchers analyzed the latest 2021 data from the U.S. Census Bureau. American Community Survey.
The researchers ranked large cities according to the minority homeownership gap, defined as the percentage point difference in homeownership rates between whites and minorities. In the event of a tie, the metro with the lowest minority home ownership rate is ranked higher.
The researchers also calculated minority median property values and white median property values. For the purposes of this analysis, minorities are those who are not non-Hispanic white. Additionally, the minority homeownership gap may not equal the sum of their components due to rounding errors.
For greater relevance, only metropolitan areas with a population of 100,000 or more were included in the analysis.
