Growth in homeownership is coming on strong from Hispanic homebuyers, according to a new report. The Hispanic Wealth Project recently released a report finding the homeownership growth rate among Hispanics outpaces every other racial demographic, citing data from the Census Bureau’s Housing Vacancies and Homeownership Survey.
- The Hispanic homeownership growth rate accounted for 69 percent of total net growth in 2015.
- The Hispanic population reached 57 million in 2015, and 67 percent of the population said they prefer homeownership to renting.
- The median income of the Hispanic population increased to $42,490 and poverty dropped 23.7 percent in 2014.
- Second-generation Hispanics have reached a 50 percent rate of homeownership.