A Look at Homeownership Rates Through the Lens of Race and Ethnicity

The latest Current Population Survey/Housing Vacancy Survey (CPS/HVS) housing inventory from the U.S. Census Bureau shows that the overall homeownership rate in the U.S. was 65.7% during the last quarter of 2023—3.5 percentage points lower than the 69.4% peak in 2004, the National Association of Home Builders' Eye On Housing reports.

During Q4 2023, the homeownership rate among non-Hispanic White Americans was 73.8%, followed by Asian Americans followed with a rate of 63%, Hispanic Americans (49.8%), and Black Americans (45.9%).

The data indicate a narrowing gap in homeownership between Black Americans and non-Hispanic White households from 30.2 percentage points in 2013 to 27.9 percentage points in 2023.

Hispanic Americans experienced a large increase in homeownership rate in the past 10 years. This rate increased from 45.5% in 2013 to 49.8% in the last quarter of 2023. The homeownership rate of Asian, Hawaiian and Pacific Islander Americans has reached a record high of 63% since Census Bureau began tabulating it separately from the “All other Race” category.

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