By Melanie Slone
The National Association of Hispanic Real Estate Professionals (NAHREP), under the leadership of Gary Acosta, created the Hispanic Wealth Project, a nonprofit committed to increasing household wealth in the Latino community.
According to the 2024 State of Hispanic Homeownership Report, Hispanic homeownership reached a record 9.8 million households, with 238,000 new Hispanic owner-households added last year alone, the largest increase of any racial or ethnic demographic for the second consecutive year.
Despite this growth, the Hispanic homeownership rate declined for the first time in ten years, as rising home prices and persistently high interest rates kept many potential buyers on the sidelines.
With a median age of 31, Latinos are poised to drive homebuyer demand for decades.
However, affordability-related challenges threaten future growth. To ensure continued homeownership opportunities for all Americans, policymakers and the housing industry must prioritize increasing housing supply, expanding access to credit, and addressing the construction industry’s rising costs of materials and labor shortages.
NAHREP fights for more homeownership for Latinos. It focuses on four areas: affordability; access to credit; industry best practices, meaning more Latino real estate agents; and macroeconomic issues such as immigration, financial literacy, and a strong environment for Latino families.
The four main goals to help Latinos achieve wealth are:
- Get more Latinos invested in real estate.
- Increase the number of Hispanic-owned firms.
- Increase the amount and kinds of non-cash financial assets owned by Latino families.
- Increase the number of Latino households with a will and estate plan.
Read the 2024 State of Hispanic Wealth
Latino Homeownership in California
- The state of California boasts 15.8 million Latinos, 40.4% of the overall population. The median age of Latinos in California is 31.7 years.
- Latinos were responsible for 56.6% of the homeownership growth in California in 2024, and 45.9% of homeowners in the state are Latino, compared to 55.9% of the general population.
Focus Points to Improve Latino Homeownership in California
- Address the housing supply crisis to increase affordability and access to homeownership through tax policy, increased housing supply, and urban infill projects.
- Improve access to credit through modernized credit scoring, inclusive underwriting, special purpose credit programs, affordable housing programs, and reduced fees.
- Improve industry best practices, including protecting buyer representation, promoting fair and transparent access to home listings, and increasing the number of Latinos in real estate.
- Deal with macroeconomic issues such as immigration reform, support for Latino-owned businesses, financial education, and asset protection.
