Homeownership numbers broken down by race/ethnicity

The color of your skin might influence whether you can afford to own a home.

New data released by the National Association of Home Builders (NAHB) show disparities inhousing affordability between major races and ethnic groups across the U.S. The NAHB’s quarterly index, the NAHB/Wells Fargo Housing Opportunity Index (HOI), which measures housing affordability in metropolitan areas nationwide, was broken down for the first time in its history to analyze the differences in income and housing affordability in 2010 across five different races/ethnic groups.

The report examined median incomes and housing affordability for whites, blacks, Hispanics, Asians and American Indians/Alaska Natives. In 2010, 72.8 percent of all homes sold in the U.S. last year were affordable to families earning the national median income of $64,400.

In comparison, median family income was $69,000 for whites, $42,300 for blacks, $44,100 for Hispanics, $80,500 for Asians, and $43,200 for American Indians/Alaska Natives.  Thus, 80.3 percent of homes sold in 2010 were affordable to white families earning the group’s median income, compared to 53.0 percent for blacks, 51.0 percent for Hispanics, 76.4 for Asians, and 58.7 for American Indian/Alaska Natives.

 For more information: http://www.nahb.com/news_details.aspx?newsID=12647