Investor Lending in Black-LMI Neighborhoods

Estimated difference in the share of home purchase loans going to non-owner-occupants by comparing a tract with no Black residents to an all-Black tract in low-to-moderate income (LMI) and non-LMI tracts in percentage points.

Significance shown in parentheses (non-LMI, LMI): * 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