AREAA Releases 2023 State of Asia America Report

Our industry partner the Asian Real Estate Association of America (AREAA) has released its annual State of Asia America report. This report provides a snapshot of what homeownership looks like for Asian American and Pacific Islanders (AAPIs) in the United States.

Here are the top takeaways you need to know from the report:

  1. In the Chicago-Naperville-Elgin area:
    1. There are 90,000 credit visible AAPI individuals (those who have a credit record with the National Consumer Reporting Association). This is the highest concentration of credit visible AAPI individuals in the Midwest.
    2. There are 277,000 mortgage ready AAPI individuals.
    3. There is a 54% share of AAPI individuals who are mortgage ready.
    4. There is a 23.5% share of AAPI individuals who are mortgage ready.
  2. And throughout the Midwest as a whole:
    1. The average median home value for AAPI homeowners is $208,500.
    2. The homeownership rate for the AAPI community is 69.4%.
    3. The median monthly rent of AAPI renters is $943.

Download and read the full report here.