A new brief from the Federal Reserve Bank of Philadelphia explores the Black-white homeownership gap in Philadelphia and underscores the need to address the long-standing, unique challenges that Black homeowners face.
The brief’s findings are important as they speak to a big issue happening around the country, including in Pittsburgh. According to 2018 data from the American Community Survey, only 32% of Black families are able to say they own their home in the Pittsburgh metropolitan area (compared to around 40% nationally). On top of that, many of those homes have a much lower sale or appraisal value when compared to Pittsburgh averages.
That’s why one of our main focuses at ELDI now is on increasing minority homeownership opportunities, working with Catapult Greater Pittsburgh to do so.