NWLC Releases Data Revealing Homeownership Rates for Women of Color Have Not Recovered Since the Great Recession
Washington, DC – The National Women’s Law Center (NWLC) released a brief today that includes data showing that homeownership rates for Black women and Latinas in 2021 still have not recovered from the Great Recession in 2007.
“Today’s housing policies and markets are deeply rooted in discriminatory practices and systems negatively impacting women of color, particularly Black women. While homeownership can be a path to gaining wealth, it remains out of reach for many women, particularly women of color, because of racist and sexist policies,” wrote Sarah Javaid and Talia Grossman, the authors of Homeownership—A Pathway to Wealth Building—Is Still Out Of Reach For Many Women of Color.
See below for key takeaways from the brief, which analyzes data from the American Community Survey (ACS):
- Single women living alone overall were less likely to be homeowners in 2021 (54.7 percent) compared to 2007 (57.2 percent).
- Single Black and Latina women have consistently experienced some of the lowest rates of homeownership since 2007.
- In 2007, 39.8 percent of single Latinas living alone were homeowners, dropping to 36.7 percent in 2013 and rising to 38.8 percent in 2021, still below their pre-Great Recession rate in 2007.
- Single Black, non-Hispanic women (37.0 percent) in 2021 were less likely to be homeowners compared to their pre-Great Recession rate in 2007 (40.6 percent).
- Single white, non-Hispanic men and women raising children on their own have much higher homeownership rates than Black women:
- In 2021, among single adults raising children on their own, white, non-Hispanic men were nearly three times more likely than Black, non-Hispanic women to be homeowners and white, non-Hispanic women were over three times more likely than Black, non-Hispanic women to be homeowners.
The brief also examines the demographic breakdown of women and men who are severely cost-burdened, which means that they spend more than 50 percent of their income on housing.
- Among single homeowners in 2021, women of all races were more likely than white, non-Hispanic men to be severely cost-burdened, spending a majority of their income on housing costs.
- Compared to only 16.9 percent of single white, non-Hispanic men homeowners living alone, 30.8 percent of single Latinas, 29.1 percent of AANHPI women, 26.7 percent of Black, non-Hispanic women, and 22.9 percent of Native women homeowners were severely cost-burdened.
Lastly, the brief provides policy suggestions to help address gender and racial inequities in housing, including down payment assistance programs for first-generation homebuyers and investing in more affordable housing.
Access the brief here: Homeownership—A Pathway to Wealth Building—Is Still Out Of Reach For Many Women of Color.