Home-finding site Trulia recently conducted a report on homeownership entitled “When it comes to the American Dream of homeownership, immigrants are closing the gap on the native-born.” They showed that the homeownership rates for immigrants has slowly gained ground against US-born residents. In addition, they they found that states where immigrants have resided in the U.S. for the longest periods of time there are higher rates of immigrant homeownership. The report uses data from the U.S. Census Current Population Survey and the American Community Survey. There is a lot of good information that can be gleaned from this report, but be forewarned, there is a lot of data here – especially regional.
Key takeaways:
- The gap in homeownership rates between native-born U.S. residents and foreign-born immigrants has been cut to 15.4 percentage points from 20.7 percentage points in 2001.
- After two decades (1994-2015), the homeownership rate of domestic born residents is roughly unchanged while that of foreign born residents increased 2.3 percentage points.
- New York and California have the biggest foreign-born populations but have dramatically different immigrant-homeownership rates compared to native-born residents – In New York, the gap between the two cohorts is 20.1 percentage points while in California, that gap is only 9.7 percentage points.
