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Today’s housing market can easily take “a whole lotta tryin’ just to get up that hill” of owning a home.

For many in the U.S., who have the financial means, buying a home is a rather simple activity, particularly–plainly stated–when you’re white. 

On the contrary, for Black homebuyers around the country–even those who are financially secure–the process of buying a home can often mimic a defensive driving course due to discrimination in lending, racist home appraisals, and lack of resources. The process is oftentimes so layered with barriers, that one could call it a trivial pursuit of property, calling back to the original Declaration of Independence phrase penned by John Locke. 

Despite the vestiges of American history and the time period when Black people were, in fact, considered said property, the movement around homeownership inclusivity has been growing since introduction of the Fair Housing Act of 1968, making space for more Black homeowners to join the big leagues to get a turn at bat to acquire and maintain homes, and pass down estates. 

National and local programs and initiatives, accommodating loan products, and ongoing advocacy and education have contributed to an upward trend in Black homeownership, but the numbers are still not near those of other racial and ethnic groups. As of 2022, the rate of Black homeownership in the U.S. came in at 44%, while the rate for white homeownership was 72.3%, according to the National Association of Realtors. Hispanic and Asian homeownership rate is at 51.1% and 63.3%, respectively.

It is critical the percentage for Black homeownership increases because the path to becoming home secure leads to long-term financial wellbeing, stability, and the opportunity to legacy build. The federal government, and specifically, Washington, D.C. and Prince George’s County administrations have implemented several initiatives to specifically ensure Black residents have an opportunity to finally get a piece of the pie. Knowing what those programs are, who is eligible and how to access them is key. 

To keep you up-to-date, this 2024 Homeownership Month edition includes insights on breaking through as a first-time homebuyer, tips on keeping a home in the family, and resources around selling to upgrade, downsize or become a nomadic traveler. 

Our sponsors, partners, policy makers and organization leaders provide a plethora of information for prospective homeowners, homeowners and those who may inherit property to feel empowered and experience the Black joy that is home ownership in the DMV. In the lyrical words of Ja’Net Du’Bois, ‘there ain’t nothin’ wrong with that.’ 

Here’s to ‘movin’ on up.’