DataMarkets & Economy

Hispanic homeowner pool is rapidly growing

Hispanic Wealth Project finds huge growth in Hispanic homeowners since 2000
  • 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.

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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. By the end of 2015, there was a net increase of 245,000 Hispanic households, comprising 69 percent of the total net growth of homeowners in the nation. To say this sector of the market is important is an understatement. Every other major population group saw a decrease in homeownership growth by nearly 1 percent or more during the same time period studied, which was between the fourth quarter of 2014 and the fourth quarter of 2015. Since 2000, the rate of Hispanic homeownership growth has jumped 52 percent, according to the report. And in 2015, the U.S. Hispanic population grew 1.6 million annually to a toal of 57 million -- meaning Hispanics mak...