The homeownership rate of Latinxs increased in 2016!
According to the U.S. Census Bureau, the overall homeownership rate dropped from 63.7% in 2015 to 63.4% in 2016. At the same time, the homeownership rate of African-Americans also dropped from 43% to 42.2%, and the rate of Asian-American homeownership dropped from 56.5% to 55.5%. A more positive statistic from the U.S. Census Bureau’s report is that the homeownership rate among Latinx increased to 46% in 2016, up from 45.6% the year before.
In addition, HousingWire reported that “Hispanics also led the nation in household formations with a net increase of 330,000 households in 2016.”