Our Industry Partner, the National Association of Hispanic Real Estate Professionals (NAHREP), has released part two of their State of Hispanic Wealth Report. This report analyzes the latest household wealth data from the Federal Reserve. It provides a comprehensive assessment of the progress achieved and challenges remaining in narrowing the wealth divide between Hispanic and non-Hispanic white households. The report also examines the impacts of the COVID-19 pandemic on Hispanic household wealth, homeownership and business ownership.
Top highlights include:
- In 2022, Hispanic household wealth rose to $63,400.
- Hispanic household wealth has grown more rapidly than any other demographic group.
- Latinos were also the only racial or ethnic demographic to increase their wealth by more than threefold, significantly outpacing the general population.
- Hispanic families who own their homes have, on average, 26.4x the net worth of those who rent.
- While rapid home price appreciation has allowed homeowners to grow Hispanic wealth at remarkable rates, higher home prices have also inflated a growing affordability crisis and have raised the barrier of entry to homeownership for first-time buyers.