Hispanic Heritage Month is celebrated each year from September 15 to October 15. We work to celebrate homeownership for all, including the Hispanic community. Find out how we’re celebrating below!
Why Do We Celebrate in the Middle of the Month?
September 15, the first day of Hispanic Heritage Month, is the anniversary of independence for Latin American countries El Salvador, Guatemala, Costa Rica, Nicaragua and Honduras. Also, the independence days of Mexico and Chile fall on September 16 and September 18, respectively.
Join us as we celebrate and commemorate Hispanic Heritage Month! We will honor and highlight Hispanic & Latin American leaders throughout the real estate industry. Come network and be a part of this joyous occasion! Light hors d’oeuvres, wine and beer will be served. Register today.
NOMINATE A HISPANIC-OWNED SMALL BUSINESS FOR OUR GRANT: THEY COULD WIN $1,000!
We’re awarding local small businesses who have been affected by COVID-19 with a $1,000 grant. Share this application with a local Hispanic-owned small business for their chance to win. The deadline for applications is Friday, September 23.
Hispanic Homeownership Statistics
- Latinos will account for 70% of homeownership growth over the next 20 years.
- As the nation’s second-largest demographic, Latinos comprise of 18.7% of the U.S. population, totaling 62.1 million. Between 2010 and 2020, Latinos accounted for more than half (51%) of total U.S. population growth.
- Many of the largest homeownership gains occurred in more affordable and less Latino-populated markets in the midwest and the south, including Chicago.
- Historically, Latinos have been more likely to live in multigenerational households compared to other demographics. However, that might be changing. Today, only 14.9% of Latino children live in multigenerational households, among the lowest rates for children compared to other groups.
- Self-employed Latinos represent 15.5% of all self-employed individuals, about 9 percentage points higher than that of non-Hispanic populations.
Chicago & Illinois Data:
- St. Louis, MO-IL is a top 10 area for mortgage ready Hispanics, with about 12,000 mortgage ready individuals.
- Illinois is a top 10 destination of where Latinos moved to in 2021 (landing at 9th place).
- Illinois is 3rd in the nation for the highest median household incomes for Latinos, with a median of $70,000.
- Cook County, IL is the 4th most populous Hispanic county in the country.
Barriers for Hispanic Homeownership:
- Home affordability and appreciation challenges
- Housing underproduction
- Bidding wars and paying over asking price
- FHA buyers facing steepest challenges – Latinos are twice as likely to purchase a home through FHA financing than non-Hispanic White homebuyers
- Lack of housing supply and construction labor shortage
Learn more about the current homeownership rate and its impact on the real estate industry in NAHREP’s 2021 State of Hispanic Homeownership Report.
Meet Our Industry Leaders
How Do You Celebrate Hispanic Heritage Month?
Check out these Chicago REALTORS®’ favorite traditions that celebrate their Hispanic heritage.
Listen To Hits – Submitted by Chicago REALTORS®
We have many industry partners, including the National Association of Hispanic Real Estate Professionals (NAHREP). NAHREP is a non-profit 501(c)(6) trade association with more than 30,000 members and 80 chapters across the nation.
NAHREP makes a difference by:
- Educating and empowering the real estate professionals who serve Hispanic home buyers & sellers
- Advocating for public policy that supports the trade association’s mission
- Facilitating relationships among industry stakeholders, real estate practitioners and other housing industry professionals
NAHREP members work in all segments of the housing industry and are real estate agents, brokers, loan officers, mortgage brokers, title officers, escrow officers, appraisers, insurance agents and more. NAHREP members are from diverse backgrounds as membership is not limited to professionals of Hispanic descent.