The persistent racial homeownership gap means that even with interest rates that are similar, Black and Hispanic families have a higher bar to pay closing costs that their White homebuying counterpart. And when they do by a home, they have far less equity to begin with and the home itself is worth much less.
| White | $451,602 | $130,935 | 4.0% | 7.0% |
|---|---|---|---|---|
| Black | $375,193 | $69,062 | 9.0% | 6.8% |
| Hispanic | $417,985 | $85,960 | 8.0% | 6.8% |