By Nina Atimah
- Black families are 2.5x more likely to be denied mortgages than their White counterparts on the same income level
- The differences in wealth gap make Black households unable to cover basic housing costs
Homeownership is supposed to be the great equalizer. Buy a home, build equity, get on the ladder, move up in life. But in 2025, Black families are still largely locked out of that promise. And it’s not for a lack of ambition. Let’s talk numbers—briefly. Only 44.1% of Black Americans own homes. White Americans? 74.5%. That gap is wider than it was 60 years ago.
Why This Matters: The racial wealth gap plays its part. In 2022, median White household wealth was $285,000. For Black households: $44,900. This leaves many Black families without a financial cushion to cover even the basic requirements of buying a house making down payments feel like fantasy for a lot of people. And that’s before we even get into higher property tax assessments, lower home values, or the legacy of redlining.
And making more money doesn’t close the gap. Even Black families making $150,000+ are 2.5x more likely to be denied mortgages than White families at the same level because of discriminatory lending practices. What does it mean practically? Black families are shut out of neighborhoods with strong schools, low crime, and rising property values. They’re priced out of the very places that supercharge mobility—and pushed into areas where costs go up, but opportunities don’t. The result is they are hamstrung with little to no economic mobility.
What’s Next: At its core this is also an economic issue. The U.S. housing market is worth $49.7 trillion. If more Black families accessed it, that’s more capital circulating, more stability, more growth—for everyone. Solutions exist. Special Purpose Credit Programs, zoning reform, down payment assistance, fair lending enforcement—they’re not the silver bullet, but they’re movement. Homeownership is still one of the most powerful paths to wealth in America. But only if the door is actually open.
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