Homeownership in 2018 and over the past decade




In 2018, Hispanics achieved a net gain of 362,000 homeowners. This raised the Hispanic homeownership rate from 46.2 percent in 2017 to 47.1 percent in 2018 and was the largest net gain for Hispanics since 2005.




Over the past decade, Hispanics have accounted for 62.7 percent of net U.S. homeownership gains, growing from 6,303,000 homeowners to 7,877,000, a total increase of 1,574,000 Hispanic homeowners.




Population growth




At 58.9 million, the Hispanic population represents a rising share of the U.S. population, equating to 18.1 percent of the overall U.S. population. In 2016, one of every three Hispanics was under 18 years of age, and one of every six Hispanics was under the age of 35. Today, Hispanics make up 25 percent of all K-12 students. More than 950,000 Hispanics turn 18 in any given year. This means that every minute 1.8 Hispanics turn eighteen. By the 2020 Presidential election, Hispanics will be the largest racial or ethnic minority group in the U.S. electorate, accounting for just over 13 percent of the nation’s eligible voters.




By 2045, non-Hispanic Whites will shrink to 49.7 percent and will no longer be the majority population in the United States.




Age




At a median age of 28.7, Hispanics are younger than the median age of non-Hispanic Whites (43.2 years) and the median overall U.S. age of 37.8 years.




Labor force participation




At 66.3 percent, Hispanics continue to have the highest labor force participation rate of any demographic and are ahead of the overall U.S. labor force participation rate of 62.9.9 Their high participation rate is due in part to the youth of the demographic as Hispanic millennials comprise nearly 30 percent of all Hispanics.




Hispanics’ key-contributions from 2008 to 2018






	
Hispanics were responsible for 81 percent of the U.S. labor force growth.


	
Hispanics accounted for 39.6 percent of U.S. household formations.


	
Hispanic homeownership gains represented 62.7 percent of the U.S. net homeownership increase


	
In 2018, Hispanics achieved a net gain of 362,000 homeowners. This raised the Hispanic homeownership rate from 46.2 percent in 2017 to 47.1 percent in 2018.


	
Over the past decade, Hispanics have accounted for 62.7 percent of net U.S. homeownership gains, growing from 6,303,000 homeowners to 7,877,000, a total increase of 1,574,000 Hispanic homeowners.






Household formation




Hispanics formed 485,000 new households in 2018, accounting for 32.4 percent of total U.S. household formations.




States with the highest Hispanic populations:






	
California – 15,477,304


	
Texas – 11,156,514


	
Florida – 5,371,385


	
New York – 3,811,945


	
Illinois – 2,209,337






Additional Factors 






	
More than half of U.S. Hispanics live in 14 major Metropolitan Statistical Areas, with Los Angeles, Long Beach and Anaheim topping the chart.


	
Projections made by the Urban Institute: Hispanics will account for more than half of all new homeowners over the next several years and for 56 percent of all new homeowners by 2030.


	
In 2017, U.S. Latinos spent $1.5 trillion on consumer goods and are projected to increase to $1.9 trillion by 2022


	
Latinos are the highest demographic user group of Instagram, Snapchat, Pandora, and Spotify.


	
The backyard is an important extension of a home’s entertaining space for Latinx families, with 29% of Latinas indicating they would love a built-in outdoor kitchen.


	
In 2016, 27% of Hispanics lived in multigenerational households.


	
88 percent of Hispanics agreed that owning a home is the best investment plan, and they are better off owning as opposed to renting.


	
Nearly 50 percent of all Hispanic loans originate in ten Metropolitan Statistical Areas (MSAs).  The top three MSAs account for 25.7 percent of all Hispanic home buyer loans. The markets where the most loan production volume takes place are in California, Texas, Florida, Illinois, New York, New Jersey, Illinois, Virginia, and Washington D.C.






Source: The National Association of Hispanic Real Estate Professionals® (NAHREP®)