At Habitat for Humanity International, we see every day how access to homeownership transforms lives by creating stability, opportunity and generational wealth. We also know that systemic barriers have long limited that access for Black and other households. That is why our Advancing Black Homeownership (ABH) initiative is so important.
Through Advancing Black Homeownership and other programs, Habitat is making a meaningful difference for families across the U.S.:
$17.5M in generational wealth preserved through Habitat’s Intergenerational Wealth pilot program, which used a participatory design process to develop solutions that help families build and retain wealth through homeownership.
$10.7M leveraged to help Habitat affiliates improve outreach to communities with limited access to housing opportunities, strengthen community partnerships, remove barriers to access, and enhance data collection and analysis.
By five years after purchase, Black Habitat homeowners experienced an estimated 45-point additional credit score improvement compared with their non-Habitat neighbors, according to a Washington University report.
Habitat homeowners, on average, build more wealth when compared to their neighbors. Notably, gains are higher for Black households, who accumulate an average of about $3,100 more in savings, with gains rising to $5,800 by 5 years after purchase and nearly $8,000 by 6 years after purchase, according to a Washington University report.
Home is the foundation for stability and wealth
A new research report, conducted in partnership with Washington University in St. Louis and Habitat for Humanity’s U.S. Research and Learning team, shows how Habitat for Humanity’s affordable homeownership model goes further with helping homeowners.
-
As part of our +You thought leadership series, a group of experts gathered for a livestream event to explore the deep-seated inequities in America’s housing market – and the steps necessary to create more inclusive housing practices.
-
Leveraging the power of storytelling and art, the exhibit aims to catalyze a movement to reduce the racial wealth gap by inviting visitors to experience and visualize the multitude of factors that contribute to housing inequities in the U.S.
-
Mary Kay Huss, Richmond Metropolitan Habitat chief executive officer, talks about historic housing discrimination and what Habitat is doing to help advance Black homeownership locally.
-
The homeownership gap between Black and white households is more prominent in Minnesota’s Twin Cities than in any other metropolitan area, with the nation’s largest Black and white homeownership gap at 51 percentage points — more than 20 percentage points above the national average. Learn how Twin Cities Habitat is responding to the challenge of closing the gap.