Vermont Has the 5th-Highest Black Homeownership Gap Among All States

For decades, these maps and neighborhood rankings were used as the blueprint in real estate practices. Predominantly white neighborhoods were considered more desirable and a lower risk for bankers and other lenders and were color-coded green by this ranking system. Neighborhoods comprised mostly of Black, Hispanic, and Asian residents were oftentimes closer to industrial places and were considered “hazardous” and color-coded red.

The Black-white homeownership gap is wider today (30%) than in 1968 when the Fair Housing Act was initially passed, which prohibiting discrimination when selling, renting, or financing a home.

Census data from 2019 showed nearly 72% of white families are homeowners, compared to just 42% of Black families. Rates of Black homeownership have been steadily declining over the years, even before the 2008 housing market crash.

The average first home purchased by a Black buyer is valued at $127,000 but they accrue $90,000 in mortgage debt, while white first-time homebuyers’ homes are valued at $139,000 with a $75,000 mortgage debt. This places Black buyers in more debt for a less-valued asset, weakening their investment returns. Most states in the South have over 50% of Black homeownership rates.

Stacker compiled a list of statistics about the Black homeownership gap in Vermont using data from the U.S. Census Bureau. The homeownership rate is the percent of all households that are owner-occupied according to 2019 1-year estimates.

Vermont by the numbers

– Black homeownership gap: 51.4% (#5 highest among all states)
– Homeownership rate: 70.9%
— Black homeownership rate: 21.1% (#4 lowest among all states)
— White homeownership rate: 72.6%
— American Indian and Alaska Native homeownership rate: 45.6%
— Asian homeownership rate: 50.5%
— Hispanic homeownership rate: 38.6%

States with the highest Black homeownership gap

#1. North Dakota: 61.5%
#2. Wyoming: 56.6%
#3. Minnesota: 51.7%

States with the lowest Black homeownership gap

#1. Washington, D.C.: 15.3%
#2. Alaska: 23.1%
#3. Maryland: 24.9%