Comment on Black homeowners start to close gap in property values

Black homeowners start to close gap in property values

Tim Henderson | Stateline.org (TNS) Black homeowners’ property values are on the rise across the country, with some of the biggest upswings in Midwestern and Southern states. The boon to Black homeowners, after decades of lagging property values, could help them close a racial wealth gap that has kept the American dream out of reach. Home values increased on average 84% in majority-Black ZIP codes between 2016 and 2023, outpacing growth in white ZIP codes, where values grew 69%, according to a Stateline analysis of federal housing and census data. A hot market during the COVID-19 pandemic, an intensifying housing shortage, and new state and federal efforts to fight appraisal bias may finally be moving Black homeowners a bit toward property value parity. Morgan Williams, an attorney for the National Fair Housing Alliance, an advocacy group, cautioned that the push for more fair housing appraisals remains in the early stages.

 

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