Homeownership is one of the most direct paths to generational wealth, and the data shows who gets access to it. In Pennsylvania, the Black homeownership rate is 46% compared to 75% for white households, a gap that has widened over the past decade despite overall market gains. Only 17% of Black renters in Pennsylvania can afford to buy the typical home, compared to 29% of white renters, and Black mortgage applicants are denied at nearly twice the rate of white applicants. Parents who own their home increase their children’s likelihood of becoming a homeowner by 7–8%, meaning today’s barriers compound into tomorrow’s inequities. Diverse Erie is committed to changing those odds for BIPOC families in Erie County through partnerships with local banks and organizations working to make homeownership a real and attainable goal.

Sources: EMSI, Pennsylvania Association of Realtors, and the National Fair Housing Alliance