{"id":4144,"date":"2023-04-07T14:00:00","date_gmt":"2023-04-07T14:00:00","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/04\/07\/improving-the-housing-gap-for-asian-american-communities\/"},"modified":"2025-03-13T02:50:10","modified_gmt":"2025-03-13T02:50:10","slug":"improving-the-housing-gap-for-asian-american-communities","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/04\/07\/improving-the-housing-gap-for-asian-american-communities\/","title":{"rendered":"The lagging middle income bracket in the Asian American, Pacific Islander community"},"content":{"rendered":"\n

When discussing housing inequality, we can\u2019t leave anyone out of the conversation. Improving the housing gap means tightening it for all minorities: Blacks,<\/a> Hispanics and Asians as well as others<\/a>. <\/p>\n\n\n\n

According to the report by the Asian Real Estate Association of America<\/strong><\/a> (AREAA), \u201cWhile it’s true that the overall homeownership rate for Asian Americans and Pacific Islanders is higher than Black Americans and Latino Americans, it still lags behind that of White Americans.” According to the report, some 72% of White Americans own homes, while about 62% of Asian Americans and Pacific Islanders (AAPI) are homeowners. <\/p>\n\n\n\n

The report notes a lagging middle income bracket in the AAPI community. “This disparity is important because it indicates significant opportunity for expansion within the middle-income bracket for AAPIs and shows where there is still need for assistance,” according to the report.<\/p>\n\n\n\n

\u201cThe report puts into perspective what is occurring today within the Asian American, Native Hawaiian and Pacific Islander (AANHPI) community,\u201d said Kurt Nishimura, president of AREAA. \u201cWhile we are the fastest-growing diverse sector in the nation, those in our middle and lower incomes are not keeping pace in homeownership levels with those for the non-Hispanic White sector. We are also much more comparable than previously discussed to the Black and Hispanic middle- and lower-income households.”<\/p>\n\n\n\n

Asian groups moving into new areas<\/h2>\n\n\n\n

As a real estate agent in your local community, it is important to educate yourself on the demographic data that makes up your neighborhoods and potential buyers and sellers. Especially as different ethnic groups migrate to new areas around the country, veteran agents could find themselves serving a whole new group of homeowners.\u00a0<\/p>\n\n\n\n

The State of Asia America report found wealth is not necessarily the driver of high homeownership levels. While several subgroups within the AANHPI community have increased household income over the last several years, those living in the West and Northeast still find homeownership largely unattainable. For example, in 2021:<\/p>\n\n\n\n