New Study Ranks Black Homeownership in America

*LendingTree has ranked the 50 largest cities in the country by the percentage of the Black folks who own their homes.

Would you be surprised to learn that this new study ranked Atlanta (dubbed the Black mecca) No. 7 among U.S. cities with the lowest percentage of black homeowners?

The LendingTree study found Black Americans tend to own a disproportionately low number of homes relative to their overall population.

Here’s how Atlanta ranked (via Patch.com):

•      In Atlanta, 33.10% of the population is black and only 24.83% are homeowners
•      The median household income among black Americans in Atlanta is $47,202.
•      The cities with the lowest percentages of black homeowners? Memphis, New Orleans, Milwaukee, Baltimore, Virginia Beach, Detroit, and Atlanta

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Do you live in one of the most competitive housing markets in the U.S.? Our study found that Denver, Los Angeles, and Portland have the most competitive homebuyers. https://t.co/RiaBsqgats

— LendingTree (@LendingTree) January 22, 2019

The study, which can be found here, noted that Blacks make up an average 15% of the population in each of the featured metropolitan areas, but only own an average of about 10% of owner-occupied homes.

Here are the nation’s top 10 cities for Black homeownership:

•      San Jose, CA
•      Los Angeles
•      Salt Lake City
•      Portland, OR
•      Riverside, CA
•      Austin, Texas
•      San Diego
•      Providence, RI
•      Denver, CO

Memphis is ranked as the worst city for Black homeownership.

Meanwhile, Black homeowners own the largest percentage of homes relative to their total population in San Jose, Calif.

Read more.  

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