Why Home Matters: Who Has Access to Homeownership?

Homeownership can transform lives. It creates long-lasting and life-changing impact on families and communities, from providing a source of wealth and asset-building to influencing health and educational outcomes and contributing to positive community development. The first step in bringing homeownership to more families, however, is to understand who currently has access to homeownership and what factors play a role.

There are several barriers to accessing affordable homeownership, and one of them is high demand at lower-priced tiers. In 2018, the U.S. Department of Housing and Urban Development estimated a need for 2.5 million additional housing units to meet long-term housing demand. Habitat for Humanity of Key West and Lower Florida Keys is working to expand housing inventory in the Lower Keys.

Between 1976 and 2016, despite the national passage of laws aimed at reducing discrimination in private lending, racial gaps in loan denial remained persistent: Black and Hispanic/Latinx borrowers had a higher probability of being denied a loan and of receiving a high-cost mortgage as compared with their white counterparts. Learn more about the national racial homeownership gap and how Habitat helps provide more equitable access to housing by reading the full Evidence Brief.