Despite gains, Black homeownership rates lag behind other racial groups, and industry professionals say this population of people deserves better.

According to the National Association of Realtors’ 2025 Snapshot of Race and Home Buying in America, the share of Black homeowners jumped 0.6% to 44.7% in 2023. But that’s far behind rates for white (72.4%), Asian (63.4%), and Hispanic (51%) homeownership.

Why? Black (21%) and Hispanic (17%) applicants face significantly higher mortgage denial rates compared to White (11%) and Asian (9%) applicants.

Black Americans also face challenges ranging from the impact of racist housing policies in the past to modern-day redlining scandals.

To find out more, The Mortgage Note reached out to industry professionals throughout the country to see what is happening on the ground in their communities.

Colin Allen, executive director of the American Property Owners Alliance, said over the last decade, housing costs in the District of Columbia have skyrocketed, reaching a median sales price of $800,000 for a single-family home and $500,000 for a condominium in 2020.

In addition, DC has seen significant gentrification, dropping the share of the Black population to less than 50% of the city, down from a high of 71% in 1970.

“This gentrification and redevelopment have caused a decrease in Black homeownership and are also making it increasingly difficult for Black would-be home buyers to afford homes,” said Allen. “The number of Black DC residents who own their own homes fell from 46% in 2005 to just 24% owning their homes today. Simultaneously, white homeownership increased in the district from 47% to nearly 49%.”