Industry News News Surveys

Report: Hispanics are fueling U.S. homeownership growth

Photo by Omar Lopez on Unsplash

Curbed | Patrick Sisson

Hispanics are fueling homeownership growth in the U.S., and by 2030, they are set to comprise 56 percent of new homebuyers in the country. Washington, Oregon, Idaho and California all have strong and/or growing Hispanic populations, according to the article. 

[…] Hispanic homeowners’ buying power is set to rise; the median income of Hispanic households grew from $46,000 to $60,000 the 10 years between 2007 and 2017, according to data collected by UnidosUS, a nonpartisan Hispanic advocacy group. A fifth of the millennial population in the country is Hispanic, suggesting many have just entered their prime homebuying years. While 55 percent of the nation’s Hispanic people live in Texas, California, and Florida, the Hispanic population of 11 other states has grown 10 percent since 2000: Connecticut, Rhode Island, Utah, Oregon, Washington, Idaho, Kansas, Massachusetts, Nebraska, Hawaii, and Oklahoma.

With these factors in mind, Hispanic people will comprise 56 percent of all new homebuyers by 2030, according to the Urban Institute.

To read the full story, click here: Hispanic homebuyers are the future of the U.S. housing market

Related posts

John L. Scott service center reflects on 2019 and looks ahead


Housing price growth slows across Puget Sound, per Northwest MLS


Video will dominate online search: How to win over Google