{"id":933573,"date":"2026-02-03T08:03:50","date_gmt":"2026-02-03T13:03:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/black-gen-zers-and-millennials-are-half-as-likely-to-own-their-home-as-white-counterparts\/"},"modified":"2026-02-03T08:03:50","modified_gmt":"2026-02-03T13:03:50","slug":"black-gen-zers-and-millennials-are-half-as-likely-to-own-their-home-as-white-counterparts","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/black-gen-zers-and-millennials-are-half-as-likely-to-own-their-home-as-white-counterparts\/","title":{"rendered":"Black Gen Zers and Millennials Are Half As Likely to Own Their Home As White Counterparts"},"content":{"rendered":"

<\/p>\n

Black Gen Zers and Millennials Are Half As Likely to Own Their Home As White Counterparts<\/b><\/p>\n

Redfin reports 14% of Black Gen Zers and 32% of Black millennials own their home, roughly half the rate of white Gen Zers and millennials<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\nOne in seven (14.2%) Black Gen Zers own their home nationwide, compared to nearly one in three (31.6%) white Gen Zers. That\u2019s according to a new report<\/a> from Redfin<\/a>, the real estate brokerage powered by Rocket.<\/p>\n

\nThe gap is similar for millennials: 32% of Black millennials own their home, compared to 66.6% of white millennials.<\/p>\n

Homeownership Rate Has Declined For Black Gen Zers and Millennials, Risen For White Gen Zers and Millennials<\/b><\/p>\n

\nBlack Gen Zers\u2019 homeownership rate was 16.3% in 2023, compared to 14.2% today. Black millennials\u2019 rate was roughly 33% in 2023, compared to 32% now. The homeownership rate declined for Black Gen Zers and millennials because many people in those categories who formed a new household\u2014such as by moving out of a parent\u2019s home\u2014ended up renting rather than buying.<\/p>\n

\nFor white Gen Zers, the homeownership rate has risen from 29.7% in 2023 to 31.6% today; white millennials saw the rate increase from 65.3% to 66.6%.<\/p>\n

It\u2019s Hard to Afford a Home. It\u2019s Especially Hard For Young, Black People.<\/b><\/p>\n

\nThe overall homebuying landscape has been difficult over the last few years due to high home prices<\/a>, high mortgage rates, and widespread economic uncertainty<\/a>. That\u2019s particularly true for young Americans, who typically have less money than their older counterparts.<\/p>\n

\nAnd among those young Americans, it is typically more difficult for Black people than white people to afford a home. There are several reasons for that:<\/p>\n