Black women and millennials are key drivers of current Black homeownership rates—and that they are outpacing Black men.
, single women in the U.S. overall own more homes than single men do. In 2022, “single women owned 58% of the nearly 35.2 million homes owned by unmarried Americans, while single men owned 42%.” This is most likely due to the 65+ age group being predominantly women, who tend to live longer than men in the U.S., said the study. It still holds even though women who were “employed single household heads” in most other age groups earned an estimated $20,000 less than their male counterparts.
“Black women are amazing, dope for sure. Men are not at the same level as Black women in terms of education and financial literacy,” said Brown about why he thinks as many Black men as women don’t own homes. “Black men face a unique amount of hurdles, systemically as well as societally, in terms of being a Black man. There’s a denial of opportunity for certain Black men and lack of representation in schools.
Satra D. Taylor, 28, director of higher education and workforce policy & advocacy for Young Invincibles, thinks that millennials were brought up believing homeownership is a marker of wealth and the “American Dream.” She said Black women who acquire higher education are working toward upper social mobility and generating wealth. She didn’t want to speculate without data and context about Black men homebuyers lest she perpetuate the stereotype that Black men are not present in homes.
She also doesn’t particularly want to buy a home on her own without a partner or second income to help.
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