While Hispanics make up just north of 18 percent of the U.S. population, they accounted for more than three-fifths of the growth in home ownership over the past decade, according to an annual report of the National Association of Hispanic Real Estate Professionals, or NAHREP.
The report said Hispanics made up 39.6 percent of household formations, 62.7 percent of home ownership growth, and a whopping 81 percent of jobs growth nationally.
Other Hispanic data points
Other interesting Hispanic data points from the report:
- Nearly 60 million Hispanics call the United States home.
- Interestingly, Hispanic home ownership increased between 2007 and 2009, the pit of the housing recession. But the real uptick didn’t begin until 2015.
- While the median ago of non-Hispanic whites is 43.2 years, the number is 28.7 years for Hispanics (for the entire population, it’s 37.8 years). That means much of that demographic is just reaching home-buying years.
- This population also is much more likely to live in a #ThreeGenHome, which is a rising housing set-up nationally, partially because of this expanding population that is more likely to have these households. ThreeGenHomes account for more than 20 percent of housing, the highest since the early 1950s.