🏡 June is National Homeownership Month
Because all dreams start at home.
Homeownership has long been tied to the American Dream, representing a path to building generational wealth and a marker of upward mobility. For many immigrants, "el sueño de la casa propia" symbolizes full integration into American life.
National Homeownership Month is a time to reflect on how we can support the strong desire for homeownership in immigrant and Latino communities.
Many Latinos have conquered home buying challenges and are becoming a growing demographic of homebuyers. Here are some statistics from the 2023 State of Hispanic Homeownership Report from NAHREP.
Hispanic homeownership rate nears 50%.
In 2023, the number of Hispanic-owner households went up by 377,000 from the previous year, rising to 9.5 million households, and the homeownership rate reached 49.5 percent. This rate almost reached its pre-housing market crisis high in 2007. Historically, Latinos have relied on low down payment mortgage options for home purchases.
Latinos make up the youngest demographic in the U.S. and are driving household formation growth in the country.
Latinos are the youngest racial or ethnic group in the country, with a median age of 30.7. More than two-thirds of the Hispanic population are millennials or younger. Over the past decade, Latinos have created 4.6 million new households – a 31% increase. This rise in households is a key step toward homeownership, making Latinos responsible for 25.6% of the nation's household growth. Higher education and increasing incomes are also driving the growth in homeownership among Latinos.
Buyer’s agents play a vital role in helping potential home buyers navigate the complex financial transaction of purchasing a home.
Real estate agents assist their clients in finding homes, informing them about financial incentives, and helping them get financially ready to qualify for a mortgage. For the Latino community, where there can be cultural differences and language barriers, this guidance is especially important in the homebuying process.
As we reflect on homeownership in June, we emphasize that a home is more than just four walls — it’s people’s hopes, dreams, and security for themselves and their families’ future. Hispanic homebuyers stay resilient despite challenges. Even in the least affordable housing market on record, the Latino community's resilience and ingenuity have driven ongoing growth in homeownership.
At La Chapulina Verde, our expertise, guidance, and free online educational platform are here to help you navigate your journey to homeownership. Because all dreams start at home.
