Despite a slight dip in 2024, the Hispanic homeownership rate has hit a new high.
Despite ongoing challenges in the housing market, the Hispanic community continues to make progress in homeownership. In 2024, the number of Hispanic homeowners hit a record 9.8 million, with 238,000 new households becoming homeowners, according to the 2024 State of Hispanic Homeownership Report from the National Association of Hispanic Real Estate Professionals. This is the highest increase among any racial or ethnic group for the second year in a row. However, for the first time in a decade, the Hispanic homeownership rate dropped year-over-year. Because of high mortgage rates and elevated home prices, the Hispanic homeownership rate dropped slightly by 0.5% to 49% in 2024.
The Hispanic population in the U.S. is among the youngest of all racial or ethnic demographics. With a median age of 31, Latinos are more than 8 years younger than the general population (median age of 39.2) and just beginning to age into their prime homebuying years.3 Additionally, they tend to buy homes at younger ages than their non-Hispanic counterparts. In 2023, 42.8 percent of Hispanic home purchase originations were made by borrowers under 45, compared to 37.6 percent of non-Hispanic borrowers.Read more
