Financial Security
Cost of Homeownership, by Race/Ethnicity

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Housing Affordability - Owning by Race/Ethnicity, 2017-21

What does this measure?

The median home value divided by the median household income, adjusted for inflation, and broken down for homeowners in various racial and ethnic groups.

Why is this important?

This ratio provides a rough estimate of the affordability of homes in a community. A ratio less than 2 or 3 is considered affordable. High housing costs can force households to choose between paying for housing and meeting other basic needs such as food, clothing and health care.

How is our region doing?

In 2017-21, homes in the region were generally less affordable for all racial and ethnic groups. The ratios for Asian Americans, African Americans and Hispanics were 4.5, 4.7, and 5.7, respectively, while whites were 4.1. These rates are higher (less affordable) than national rates, but similar to statewide rates, with the exception of rates for African Americans and Hispanics, which are lower in MetroWest than they are statewide.

Housing costs for all racial/ethnic groups were generally more affordable in Norfolk and Worcester than in Middlesex.

Why do these disparities exist?

Historic and current policies and systems, from racist housing policies to employment discrimination to education systems that fail to equitably serve all populations, have prevented people of color from fully participating in our economy, locking them out of economic opportunity. This has resulted in lower incomes for people of color, which means housing costs are a greater burden.

Notes about the data

Multiyear figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census.

The Census Bureau asks people to identify their race (white, African American, etc.) separate from their ethnicity (Hispanic or non-Hispanic).

Housing Affordability - Owning by Race/Ethnicity, 2017-21
AsianBlack or African AmericanHispanicWhite
United States4.43.73.93.2
Massachusetts4.65.46.04.0
Region4.54.75.74.1
Middlesex County4.55.46.24.1
Norfolk County4.44.24.54.0
Worcester County4.14.15.03.5

Source: U.S. Census Bureau
Notes: Ratio of median home value divided by the median household income, adjusted for inflation. A ratio less than 2 or 3 is considered affordable. The Census Bureau asks people to identify their race (white, African-American, etc.) separate from their ethnicity.




Median Home Value by Race/Ethnicity, 2017-21
AsianBlack or African AmericanHispanicWhite
United States$469,406$198,001$248,081$257,526
Massachusetts$540,252$406,431$379,243$438,772
Region$559,796$391,385$417,554$485,172
Middlesex County$558,843$464,048$495,504$515,589
Norfolk County$624,567$374,654$457,926$574,295
Worcester County$559,818$317,897$303,805$383,829

Source: U.S. Census Bureau




Housing Affordability - Owning by Race/Ethnicity, 2017-21
AsianBlack or African AmericanHispanicWhite
United States4.43.73.93.2
Massachusetts4.65.46.04.0
Region4.54.75.74.1
Middlesex County4.55.46.24.1
Norfolk County4.44.24.54.0
Worcester County4.14.15.03.5

Source: U.S. Census Bureau
Notes: Ratio of median home value divided by the median household income, adjusted for inflation. A ratio less than 2 or 3 is considered affordable. The Census Bureau asks people to identify their race (white, African-American, etc.) separate from their ethnicity.




Median Home Value by Race/Ethnicity, 2017-21
AsianBlack or African AmericanHispanicWhite
United States$469,406$198,001$248,081$257,526
Massachusetts$540,252$406,431$379,243$438,772
Region$559,796$391,385$417,554$485,172
Middlesex County$558,843$464,048$495,504$515,589
Norfolk County$624,567$374,654$457,926$574,295
Worcester County$559,818$317,897$303,805$383,829

Source: U.S. Census Bureau




INDICATORS REGIONAL TREND
Early Prenatal Care by Mother's Race/Ethnicity Not Applicable
Children Living in Poverty Maintaining
Children Living in Poverty, by Race/Ethnicity Not Applicable
Single-Parent Families Increasing
Single-Parent Families by Race/Ethnicity Not Applicable
Disengaged Youth Decreasing
Reports of Domestic Violence Increasing
Arts, Entertainment and Recreation Establishments Increasing
Households Without Vehicles Maintaining
Means of Transportation to Work Not Applicable
Households With Internet Access Increasing
Voter Participation Rate Decreasing
Average Charitable Contribution Maintaining
People Without Health Insurance Decreasing
Opioid Overdose Mortality Rate Increasing
Crimes Against People Decreasing
Incarceration Rates, by Race/Ethnicity Not Applicable
Change in Total Population Increasing
Change in Population by Race/Ethnicity Not Applicable
Foreign-Born Population Increasing
Language Diversity Increasing
Population by Age Not Applicable
Change in Population by Age/Gender Not Applicable
Seniors Living Alone Decreasing
People with Disabilities Maintaining
Change in Total Jobs by Sector Not Applicable
Business Ownership by Race/Ethnicity Not Applicable
Unemployment Rate Maintaining
Share of Workers who are Professionals, by Race/Ethnicity Not Applicable
Unemployment Rate by Race/Ethnicity Not Applicable
Average Salary by Sector Not Applicable
High-Tech Jobs Decreasing
Female to Male Earnings Ratio Maintaining
Prekindergarten Participation Not Applicable
Student Performance on Grade 3 English, by Student Group Not Applicable
School Spending Per Student Maintaining
Student Performance on Grade 8 Math by Student Group Not Applicable
Chronically Absent Students Increasing
High School Cohort Graduation Rate by Student Group Not Applicable
Education Levels of Adults Not Applicable
College Admission Rate, by Race/Ethnicity Not Applicable
Education Levels of Adults, by Race/Ethnicity Not Applicable
People Living in Poverty Maintaining
People Living in Poverty, by Education Level Not Applicable
People Living in Poverty, by Race/Ethnicity Not Applicable
Households Receiving Temporary Assistance Maintaining
Participation in Food Assistance by Race/Ethnicity Not Applicable
Median Household Income Maintaining
Median Household Income, by Race/Ethnicity Not Applicable
Living Wage Not Applicable
80/20 Income Ratio Maintaining
Access to Financial Services, by Race/Ethnicity Not Applicable
Homeownership Rates Maintaining
Homeownership Rates, by Race/Ethnicity Not Applicable
Cost of Homeownership Increasing
Cost of Homeownership, by Race/Ethnicity Not Applicable
Cost of Rent Not Applicable
Cost of Rent, by Race/Ethnicity Not Applicable
Homelessness Increasing
Early Prenatal Care by Mother's Race/Ethnicity Not Applicable
Children Living in Poverty, by Race/Ethnicity Not Applicable
Single-Parent Families by Race/Ethnicity Not Applicable
Incarceration Rates, by Race/Ethnicity Not Applicable
Change in Population by Race/Ethnicity Not Applicable
Business Ownership by Race/Ethnicity Not Applicable
Share of Workers who are Professionals, by Race/Ethnicity Not Applicable
Unemployment Rate by Race/Ethnicity Not Applicable
Student Performance on Grade 3 English, by Student Group Not Applicable
Student Performance on Grade 8 Math by Student Group Not Applicable
High School Cohort Graduation Rate by Student Group Not Applicable
College Admission Rate, by Race/Ethnicity Not Applicable
Education Levels of Adults, by Race/Ethnicity Not Applicable
People Living in Poverty, by Race/Ethnicity Not Applicable
Participation in Food Assistance by Race/Ethnicity Not Applicable
Median Household Income, by Race/Ethnicity Not Applicable
Access to Financial Services, by Race/Ethnicity Not Applicable
Homeownership Rates, by Race/Ethnicity Not Applicable
Cost of Homeownership, by Race/Ethnicity Not Applicable
Cost of Rent, by Race/Ethnicity Not Applicable


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