Each year in the United States we observe National Hispanic Heritage Month, from September 15th to October 15th, by “recognizing the important presence of, and contributions made by, Hispanic and Latino Americans in the United States, while celebrating their heritage and culture.”
We frequently talk about the Hispanic community and the importance of this group’s effect on the housing market. But how big is the United States’ Hispanic community in reality? According to the Census Bureau, the Hispanic population of the United States, as of July 1, 2014, is 55 million. Today, I would like to share five maps with you that you can use to find more information about the Hispanic community in your area:
The Hispanic population in the U.S. reached a new high of 55.4 million in 2014, according to the Pew Research Center. With the increase in population, we have also seen an increase in the homeownership rate (45.3% for the first quarter of 2016) among the Hispanic community.
The National Association of Hispanic Real Estate Professionals (NAHREP) released their 2016 Hispanic Wealth Project Annual Report last month. In that report, they highlighted 8 component goal requirements to help the Hispanic community obtain homeownership. Here is the list and the objectives as presented by NAHREP:
When working with Hispanics who are in the process of becoming a home owner, it is important to understand their background. A U.S born Hispanic can be more familiar with the systems in the country but, in the case of the immigrants, they will be bringing their knowledge of the financial systems in their country of origin. In many cases it can be completely different to the way it works in the U.S.