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Multiracial sitting in a home office and holing keys of their new home

Source: zamrznutitonovi / Getty

Despite the long-term goal of closing the racial wealth gap through homeownership, the Black homeownership rate has remained largely unchanged over the past few decades.

According to a recent analysis from Apartment List, a rental-listing platform, the rate of Black homeownership has increased from 40.8 percent in 2016 to 44 percent in 2021. This number is still lower than the 45 percent rate seen in 1980.

The U.S. Treasury Department reported that the rate of white households owning a home in the second quarter of 2022 was 75 percent, compared to just 44 percent for Black households.

This highlights the need for further action to ensure that all Americans, regardless of their race, can access the same resources and opportunities for homeownership.

Hopefully, we will continue to close the gap.

Read the full story here.