Housing

Why this issue matters for racial equity?

For most families, their house is their biggest asset, providing stability and a means for building wealth. The exclusionary discrimination practices in the housing market have generated a volatile cycle for people of color, leaving them with lower homeownership rates, higher priced loans and living in segregated neighborhoods with less access to public resources.

 

Policy levers:

Advocates across the state are organizing in a variety of municipal campaigns focused on increasing affordable and quality housing opportunities and for the protection and acknowledgement of tenant rights.

 

Indicators:

Income left after housing costs (owner), income left after housing costs (renter), foreclosure rate, loan types/subprime, housing quality, and homeownership.

Key Takeaways

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Subprime Loans
Latinos and African Americans are subjected to higher-priced housing (subprime) loans 4x more than Asians and 2x more than Whites.
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Homeowners
Asian and White homeowners have nearly $25,000 more income left after paying for housing costs when compared to Blacks, Native Americans, Pacific Islanders, and Latinos.
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Renters
Renters have less income left over after paying for housing than owners. Still, White renters have nearly 3x more income left over than Black renters.
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Home Value
The value of one's home is vastly different depending on your racial identity: for Whites and Asians, home values were at or above the median value of $400,000, at $400,000 and $455,000 respectively. However, for Blacks and Latinos the values were below the median, at $300,000 and $250,000 respectively.

Racial Disparity Across Indicators

Lowest Disparity
Highest Disparity
04 of 7 key issues

Housing

The inability of regional governments to provide solutions for affordable housing has resulted in greater income inequality and decreased social mobility.

CALIFORNIA
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