Key facts, trends and statistics from the National Association of Hispanic Real Estate Professionals.
The National Association of Hispanic Real Estate Professionals (NAHREP) has released its annual State of Hispanic Homeownership Report. The report’s data points are always worth taking a look at. Here are this year’s high-level findings of interest (2022 data):
National-Level Statistics
- Our country’s 63.6 million Hispanics make up 19.1 percent of the total U.S. population.
- 9 percent of U.S. citizen Hispanics were U.S. born.
- More than half our country’s population growth between 2012-2022 was attributable to growth in the Hispanic population.
- The national Hispanic homeownership rate rose to 49.5 percent in 2022 – an addition of 377,000 households for a grand total of 9.56 million.
- 4 percent of Hispanics in the U.S. live in multi-generational households.
Minnesota-Level Statistics
- Hispanics make up 6 percent of Minnesota’s total population.
- Minnesota’s Hispanic homeownership rate was 49.1 percent in 2022, compared to 72.1 percent for the general population and 77.3 percent for white non-Hispanics.
- The median household income for Minnesota Hispanics in 2022 was $63,399. This compares to a median of $82,338 for Minnesota households overall.
Other Statistics of Note
- Hispanic borrowers were 54 percent more likely to be denied conventional financing than non-Hispanics.
The full 2023 State of Hispanic Homeownership Report can be found online here.