The report’s authors compared similar homes in white neighborhoods and communities of...
Homes in a subdivision in east San Antonio near Loop 1604 and I-10 are pictured in October. A recently published report by two university researchers shows that in the San Antonio area, the mean appraised value of homes in communities of color is a little more than a third of that of similar homes in predominantly white neighborhoods.
They used statistical modeling and census tracks as a proxy for neighborhoods and compared similar housing stock in neighborhoods with the same socioeconomic status and comparable amenities such as stores and parks. “The higher the white proportion in a neighborhood, the higher the appraised value,” the authors wrote in the report, which was published by Washington University and Eruka, a nonprofit founded by Howell.And such disparity worsened during the pandemic. Over the past two years, the value of the average home in predominantly white neighborhoods rose $136,000, more than twice the appreciation of the average home in communities of color.
In the Austin area, the mean appraised value in communities of color is $318,496, compared with $873,758 in white neighborhoods. In the Dallas area, the mean appraised values in communities of color and white neighborhoods are $301,791 and $539,999, respectively; in the Houston area, they’re $257,049 and $543,716.
Instead, they suggest valuing homes based in part on how long components like roofing and windows are expected to last — a radically different process that Howell calls the “lifespan approach.”Your guide to the Texas and San Antonio races and candidates on the Nov. 8 ballot. “When we see even one story of a consumer who feels they were treated differently because of their race, it’s gut-wrenching because that goes against everything appraisers stand for,” Bishop said in a statement. “Appraisal is one piece of a larger ecosystem to look at when it comes to housing issues.”
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