NAHREP 2023 State Of Hispanic Wealth Report

The National Association of Hispanic Real Estate Professionals (NAHREP) has released their 2023 State of Hispanic Wealth Report. It noted that household wealth growth is the single greatest contributor to wealth for most American families.

Hispanic Homeownership On The Rise

70% Of New Homeowners Will Be Hispanic By 2040

This statistic affects all Americans – homebuyers, sellers, mortgage professionals, real estate industry professionals, and more. The market will hinge largely on consumer guidance and representation, according to the report.

Rent Vs. Own

Hispanic families who own their homes have, on average, 26.4 times the net worth of those who rent. It’s important to note that while existing homeowners have benefited greatly from home price appreciation in recent years, renters currently face greater barriers to homeownership.

Is It Better to Rent or Buy?

This calculator will help you weed through the fees, taxes, and monthly payment comparison to help you make the best decision.

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The State of Hispanic Household Wealth

Latino Population And Buying Power

More Latinos than ever before have become homeowners during the past decade, and rapidly rising home values have helped those who can afford to buy grow wealth through home equity.

Wealth Has Tripled In Past Decade

Latinos were the only racial or ethnic demographic to increase their wealth more than threefold, significantly outpacing the general population.

However, a sizable wealth gap between Hispanic and non-Hispanic white households persists. The general population still holds more than twice the wealth of Hispanic households.

Hispanic-Owned Business And The US Economy

Latinos continue to start new businesses at a faster rate than any other demographic group, a trend that was only amplified during the COVID-19 pandemic. Yet, accessing capital remains a challenge for Hispanic entrepreneurs, which limits opportunities to scale and build wealth.

The Hispanic community continues to outpace every other racial and ethnic group in starting small businesses, representing both an opportunity to build wealth and the potential for new job creation.

Hispanic Homebuying Guide

Use our Spanish-language homebuying guidebook to help walk you through the process of purchasing a home.

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Review The Report

For more insight into Hispanic wealth, read the full report.

At CrossCountry Mortgage, we’re committed to making home a reality for Hispanic homebuyers. Visit our Hispanic Homebuying portal for resources, guides, and consumer insights geared toward the Spanish-speaking community.

This article is for educational purposes only and does not constitute financial or mortgage advice. Loan programs, rates, and guidelines may change at any time. All loans are subject to credit approval and underwriting. For guidance tailored to your situation, consult a licensed mortgage professional.