New York’s overall homeownership rate has trailed the nation since 2005, with the gap between the state and the nation as high as 14%. Reducing inequities in real estate practices and boosting homeownership are important priorities for maintaining New York’s competitiveness as a place where everyone has an equal opportunity.” Housing and mortgage discrimination have prevented generations of New Yorkers from taking advantage of the economic benefits of homeownership. “The low rate of ownership for Black, Asian, and Hispanic New Yorkers is especially troubling. “Owning a home is the ‘American Dream,’ but for too many New Yorkers that dream has been unattainable,” DiNapoli said. The homeownership gap is highest for Hispanics in New York, and 16% higher than the national Hispanic gap compared to White households. In 2021, 67% of White households in New York owned their home, compared to 52% of Asian households, 34% of Black households, and 29% of Hispanic households. New York also has a racial and ethnic ownership disparity that is higher than the rest of the country. Only 53.6% of New York households owned a home in the second quarter of 2022, compared to 65.8% nationally.
New York state has the lowest homeownership rate in the nation, driven by low rates in New York City, according to a report released today by State Comptroller Thomas P. damages incurred from the viewing, distributing, or copying of such materialsīecause Google Translate™ is intellectual property owned by Google Inc., you must use Google Translate™ in accord with the Google license agreement, which includes potential liability for misuse: Google Terms of Service.damages or losses caused by reliance upon the accuracy of any such information.The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. The Office of the State Comptroller does not warrant, promise, assure or guarantee the accuracy of the translations provided. If you rely on information obtained from Google Translate™, you do so at your own risk. Google Translate™ cannot translate all types of documents, and it may not give you an exact translation all the time. However, the "Google Translate" option may help you to read it in other languages. The New York State Office of the State Comptroller's website is provided in English. This Google™ translation feature is provided for informational purposes only.
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