The gap between Black and white homeowners in Tennessee has grown over the past decade, Axios’ Brianna Crane reports from Zillow data .
Why it matters: Homeownership remains the biggest driver of the wealth gap, per the U.S. Department of Housing and Urban Development.
- Decades ago, discriminatory practices such as redlining exacerbated homeownership inequities that are still evident today.
By the numbers: About 44% of Black Tennesseans own homes, a decrease of 1.3% since 2012. More than 73% of white residents own homes, an increase of nearly 1% in the same timeframe.
Zoom in: The Nashville-specific numbers are similar: 71.5% of white residents own homes, compared to about 44% of Black residents.
What’s more: A racial disparity is also seen in property appraisals. The typical value of Nashville-area homes with Black owners is 14.4% less than homes with white owners.
- Statewide, the value gap is even larger, at nearly 21%.
The big picture: Nationally, the typical value of U.S. homes with Black owners ($291,000) is 18% less than the typical value of homes with white owners ($354,000).