Homeownership rates in the United States peaked in 2004 at a little over 69 percent, then declined after the financial crash to less than 63 percent in 2016. Since then they have risen slightly to above 64 percent in late 2017 and 2018.
When broken down by the race of the householder, non-Hispanic white rates have been 6 to 8 percentage points higher than the national average, while black rates have been 20 to 22 percentage points lower. Between 1995 and 2004, blacks closed some of the gap, going from under 60 percent to more than 65 percent of the rates enjoyed by non-Hispanic whites. After the financial crash, however, blacks lost more than they had gained in the previous decade, with rates falling below 58 percent of non-Hispanic white rates in 2016.
Black rates made a slight recovery in 2017, according to the American Community Survey. Table B25003 shows homeownership rates, B25003B has rates for black householders, and B25003H has rates for non-Hispanic whites. There are also tables for whites including Hispanic (B25003A); Indian/Native Alaskan (C); Asians (D); and Native Hawaiian/Pacific Islander (E). But I’m focusing on blacks and non-Hispanic whites as economic bellwethers. Continue reading
