A new analysis released this week by LendingTree reveals that Black homeownership rates continue to trail white homeownership rates by a wide margin across the U.S.’s 50 largest metropolitan areas.
According to the report, which analyzed data from the U.S. Census Bureau’s 2024 American Community Survey, the Black homeownership rate across these major metros sits at 43.6%. In stark contrast, the homeownership rate for white households in the same areas is 70.3%.
This disparity underscores persistent systemic challenges in the U.S. housing market. While Black households own a collective 4.6 million homes across the 50 largest metros, they remain significantly underrepresented in property ownership relative to their white counterparts.
The study highlights significant regional variations in homeownership rates. Only five of the nation’s 50 largest metros boast a Black homeownership rate about 50%.
Atlanta leads the nation with a Black homeownership rate of 55.3%. It is followed closely by Birmingham, Ala. (54.1%), Richmond, Va. (52.8%), Washington, D.C. (52.5%) and Miami (52%).
However, when looking at the nation’s most expensive markets, Black homeownership rates plummet. San Jose, Calif., ranks last among the 50 metros with a rate of just 29.2%. Other major metros with low rates include Minneapolis (30.1%), Fresno, Calif. (30.5%), Los Angeles (32.4%) and New York (33.4%).
Matt Schulz, LendingTree’s chief consumer finance analyst, noted in commentary accompanying the release that affordability is a primary driver of these disparities.
“Buying a home today is challenging anywhere,” he said, adding, “it becomes just much harder when you’re in one of the nation’s most expensive cities. Add lower income to the mix, and it becomes nearly impossible in some places.”
Beyond the ownership rates, the report identifies a substantial gap in property values. The median value of owner-occupied homes held by Black homeowners was $278,500 in 2024. This is 22.8% lower than the overall national median home value of $360,600.
LendingTree attributes much of this gap to income disparities and credit accessibility, which limits the size of mortgages Black applicants can secure. An earlier LendingTree report found Black applicants were twice as likely to face denials for their mortgage applications than their white counterparts, with their credit histories cited as the main reason for the denial.
The report notes that the median income for Black households was $56,020 in 2024, compared to $88,010 for white households — a difference of nearly $32,000.
LendingTree’s research conforms with findings from other firms and advocacy groups. For example, Redfin recently found that Black Gen Zers’ and millennials’ homeownership rates lag behind their white peers by a substantial margin.
And according to a 2025 report from the National Fair Housing Alliance, a left-leaning advocacy group focused on expanding housing access, “current homeownership rates are a result of historic systemic housing and lending discrimination and are intertwined with the wealth and income disparities we see today.”
In its analysis, LendingTree aligns with the National Fair Housing Alliance’s understanding of the state of affairs.
“Without sufficient income and decent credit, getting a home can be a major challenge, and Black Americans still trail well behind white Americans and other groups in those areas,” Schulz stated in the report. “Until that changes, the gap will likely remain.”
