Increase in Minority Income Spurs More Homeownership

Median income increased from 2015 to 2016 to the highest point it’s ever been. Income levels rose 3.2 percent to $59,039 from 2015 to 2016. These numbers are setting records; its the highest point ever reached, and it’s the second year in a row it’s been rising. The statisics below can be found here.

Asian homes continue holding the highest median income at $81,431, Non-hispanic white households were next with $47,675, which is also up 2%. 

The two households with the lowest median income didn’t come without loss. They experienced the most growth from 2015 to 2016. Black households climbed to $39,490 which is up 5.7 percent. And the second highest growth sector was the Hispanic households, up 4.3 percent to $47,675

Forgetting the rising home prices, this increase in income explains why Hispanic home ownership is rising as well.  

Up from 2015, 2016 saw a whopping 45.6 percent increase in homeownership among Hispanics. This  demographic was the only one that saw an increase, all others saw a loss of homeownership. 

Experts, and all of America is hopeful and rooting for Hispanics and other minorities continue the trend increasing homeownership.

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