Check Out NAREB’s 2020 State of Housing in Black America Report

Our industry partner, the National Association of Real Estate Brokers (NAREB), has released their 2020 State of Housing in Black America report. This report provides a detailed view of what impacts and impedes Black families from realizing the dream of homeownership. The report includes the following findings for the United States as a whole:
  • Black homeownership was at 47% in 2020, but it has yet to reach pre-2008 levels.
  • Blacks are under-represented among owner households.
  • Homeownership rates are particularly low for younger Black households.
  • Black households earn 40% less than white households, and white households have 10 times higher net worth.
It also includes the following findings for Black homeowners in the Chicago area:
  • In the Chicago-Naperville-Elgin, IL-IN-WI area, the Black homeownership rate is 40.3%.
  • In that same area, the Black-White homeownership gap is 35.2%
  • Of the total population of the Chicago-Naperville-Elgin, IL-IN-WI area, 3% are Black Millenials.
Read the full report here.