AUSTIN – Hispanic homeownership rates rose steadily for the eighth year in a row and had their largest new household growth in nearly ten years according to the National Association of Hispanic Real Estate Professionals (NAHREP) 2022 State of Hispanic Homeownership Report.
Other takeaways from the report:
- The Hispanic homeownership rate is 48.6 percent despite rising home price appreciation, double-digit inflation, and interest rate increases.
- Latinos are forming new homeowner households rapidly, adding a net total of 349,000 in 2022, more than double that of non-Hispanic white households.
- Latinos also trend younger as homebuyers, with 70 percent of Hispanic homebuyers with a mortgage in 2021 under the age of 45.
- Freddie Mac and NAHREP identified McAllen, Brownsville, and El Paso as the top three opportunity markets for mortgage-ready Latinos.