ListenTwin Cities Black homeownership rate falls after several years of growth
NINA MOINI: In the Twin Cities metro area, Black home ownership rate has backtracked. That’s according to new data from the Minneapolis Federal Reserve. In 2023, the region’s rate had risen to 34.3%. But in 2024, the regional Black homeownership rate fell back to 29.1%.
The data also shows that, compared to 11 other similar metro areas across the United States, the Twin Cities has the largest gap between Black and white homeownership rates, at nearly 47%. While the data doesn’t point to the reasons why, our next guest has some insight. AsaleSol Young is the executive director of Housing in Action, a local housing justice organization, that works with socioeconomically disadvantaged families to find affordable and safe housing. AsaleSol joins me now. Thank you so much for your time this afternoon…