The Homeownership Gap
Minnesota has one of the worst homeownership equity gaps in the county. Many Minnesotans continue to be excluded from our housing market through modern-day exclusionary policies. This exclusion has profound impacts on quality of life, health, wealth creation, and more. It is critically important that all Minnesotans, regardless of race or ethnicity, have the opportunity of homeownership.
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In 2018, the U.S. homeownership rate for non-black households was 26 percentage points higher than the Black homeownership rate. In none of the 50 largest metros by Black population does the Black homeownership rate exceed the non-black rate. The smallest margins are found in Fayetteville (15ppts), Orlando(15ppts), Washington (16ppts), Charleston (17ppts), and Miami (18ppts). The largest margins are in Minneapolis (51ppts), Pittsburgh (41ppts), Milwaukee (40ppts), Cleveland (38ppts), and Indianapolis (35ppts).
Source: Zillow
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While Minnesota has the third highest homeownership rate in the country, it also has the fifth highest disparity in homeownership rates between white households and households of color or Hispanic ethnicity. This disparity has been persistent over time.
The Issues
