Celebrating Hispanic Heritage Month in 2023!

Every year, Hispanic Heritage Month is celebrated from September 15 to October 15.

According to National Today, “The idea for Hispanic Heritage Month, celebrated throughout the latter half of September and the first half of October, began as a way to promote the history, culture, and contributions of Hispanic-Americans — specifically, those whose ancestors came from Spain, Mexico, the Caribbean, and Central and South America. Communities mark the achievements of Hispanic and Latino Americans with festivals and educational activities.”

Check out facts, homeownership stats and more below.

Why Do We Celebrate in the Middle of the Month?

September 15, the first day of Hispanic Heritage Month, is the anniversary of the independence of 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. Dia de la Raza, or Columbus Day, also falls within this month, on October 12.

Find out more about Hispanic Heritage Month here.

Where to Celebrate in Chicago

Check out these and more with a full resource list from Choose Chicago!

Hispanic Homeownership Statistics

CHICAGO & ILLINOIS DATA INSIGHTS

  • The Hispanic population of Illinois is 18% of the total population.
  • The Hispanic homeownership rate in Illinois is 57.5%.
  • Illinois is in the top 10 states with the highest median household income for Latinos at $65,075.
  • Some of the most affordable markets for Latino homebuyers remain in the Midwest. Elgin, Illinois is one of the most affordable for Latino markets in the state.
  • Some of the most populous Latino markets also experienced some of the highest increases in monthly mortgage payments, including Chicago with a 49.4% year-over-year (YOY) change in monthly mortgage payments.
  • The St. Louis area is in the top 10 for mortgage-ready Hispanics, with about 12,000 mortgage-ready individuals

BARRIERS FOR HISPANIC HOMEOWNERSHIP

  • Home price appreciation challenges
  • Affordability challenges that price out middle-class families
  • Low inventory
  • Rise in interest rates
  • Student loan debt
  • Multiple offers competition
  • Investor impact on the market

OPPORTUNITIES FOR HISPANIC HOMEOWNERSHIP

  • 9 million mortgage-ready Latinos
  • Median credit score increased to 669 in 2022
  • Increase in special purpose credit programs

Check out NAHREP’s full 2022 State of Hispanic Homeownership Report here.

Meet Our Industry Leaders

How Do You Celebrate Hispanic Heritage Month?

Hipolito Garcia, Caliber Home Loans

What does Hispanic Heritage Month mean to you?

It is a way to celebrate the different Hispanic cultures embedded in America. We are part of the engine that makes America great.

How do you celebrate Hispanic Heritage Month?

In many ways by supporting the celebration through different organizations. For example, our company’s Hispanic ERG “Mezcla Calibre” celebrates by educating the entire company on fun facts on the Hispanic culture.

What’s your favorite local Hispanic owned restaurant or store in the city?

Rio’s D’Sudamerica at 2010 W. Armitage in Bucktown.

Is there any local celebration/event you plan on attending with family and friends this month?

I may stop in the Latino Dance Festival if I get a chance.

What’s your current favorite Hispanic or Latin artist and/or song?

Marc Anthony and Bad Bunny are my favorite artists.

Drussy Hernandez, Coldwell Banker Realty

What does Hispanic Heritage Month mean to you?

This is an opportunity to recognize and celebrate our heritage. There are so many countries that speak the same language but we differ in traditions, celebrations and other things. We still get to celebrate being Hispanic as one voice. We are proud of our heritage and recognize the importance of this celebration.

How do you celebrate Hispanic Heritage Month?

I continue to celebrate with friends, and, in my church, we do a special service to celebrate. We usually share a meal together with dishes from different countries and it’s a wonderful time to hear stories about other’s lives before coming to America.

What’s your favorite local Hispanic owned restaurant or store in the city?

The restaurant Ponce at 4313 W. Fullerton has wonderful, authentic Puerto Rican food.

Is there any local celebration/event you plan on attending with family and friends this month?

Celebrating in my church is a special event and I’m looking forward to it.

What’s your current favorite Hispanic or Latin artist and/or song?

Fonseca is one of my favorite artists. His music is lots of fun.

Tiffany Jimenez, Coldwell Banker Realty

What does Hispanic Heritage Month mean to you?

Hispanic Heritage Month is an opportunity to celebrate our culture, and educate others on the beauty of it. I think this time is important to reflect on the beauties of our culture, honor traditions and educate others on why these traditions and our culture are so important and should be celebrated.

How do you celebrate Hispanic Heritage Month?

I celebrate Hispanic Heritage Month by taking the time to reflect on our culture and how it has helped me to be the person I am today. The little things that guided me along the way, whether it’s cooking the recipes my abuela passed down or using Vicks vapor rub religiously, there are so many little things that we carry with us daily because of our culture. I take this time to reflect on it and make sure my kids realize how important it is to carry our culture and traditions with us wherever we go and continue to pass them down for generations to come.

What’s your favorite local Hispanic owned restaurant or store in the city?

Our family favorite restaurant in the city to celebrate birthdays is Mi Tierra. But right now, my favorite restaurant is Tapas Valencia in South Loop.

Is there any local celebration/event you plan on attending with family and friends this month?

This month, I plan to attend the local festivities for Mexican Independence Day and also be intentional about trying new local restaurants with my family. I take great pride in being able to show my children why it is so important to pass down our legacy.

What’s your current favorite Hispanic or Latin artist and/or song?

My favorite artist right now is Karol G.

Get Involved

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.

To get involved with NAHREP, visit their Chicago chapter’s website at nahrepchicago.org, and keep an eye on our industry partners page to join us for our partner events.

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