Investor Lending and Black Neighborhoods by Metro

Estimated difference in the share of home purchase loans going to non-owner-occupants between an all-Black and a no-Black tract in percentage points before and after controlling for home price, income, yield and housing stock.

Significance for with-controls model shown in parentheses: * p < 0.05; ** p < 0.01; *** p < 0.001; n.s. = not significant.
Standard errors are clustered by county.
Metros shown are the 12 with the most Black-majority census tracts among metros with at least five counties and at least 20 Black-majority tracts.
Chart: NCRCSource: NCRC analysis of HMDA and American Community Survey dataGet the data