After 50 years, homeownership gap between white and Latino Coloradans narrows. But for Black Coloradans, it’s widened.
The U.S. is short about 3.8 million housing units relative to demand, making it one of the toughest real estate markets in history.
The Colorado Sun
DENVER — Homeownership is the primary means of accumulating wealth for the average family, housing advocates said, and closing the homeownership gap is the most effective way to close the racial wealth gap.
About 48% of white residents can afford to buy the typical home in Colorado, compared with 30% of Black residents and 32% of Latino people.
In the last decade, the gaps between Black and white homeownership have widened. In 1970, the homeownership gap between Black and white households was 19 percentage points and it has grown every decade since to 32 percentage points in 2020. In 2020, 73% of white Coloradans owned their own home, compared with 41% of Black Coloradans, new Census Bureau data says.
The news is better for Latino Coloradans. In 2020, the homeownership gap between Colorado’s white and Latino households narrowed for the first time in 50 years.
Homeownership rates among Latinos are highest now in the Adams County suburbs of Commerce City and Thornton.
Read more at ColoradoSun.com.
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