Feb 26, 2024 - News

Boston home values for Black owners lag behind

Difference in the typical value of homes owned by Black and white people, by metro area
Data: Zillow; Map: Erin Davis/Axios Visuals

The typical home value of Boston-area homes with Black owners is 18.1% less than homes with white owners, per data Zillow shared with Axios.

The big picture: The Boston statistic is on par with the national average, where 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), per Zillow data.

Why it matters: Homeownership remains the biggest driver of the wealth gap, per the U.S. Department of Housing and Urban Development.

What they're saying: Black owners seeing their homes appraising for less than those of their white counterparts isn't new. "It's no longer a myth or legend that this happens," HUD chief of staff Julienne Joseph tells Axios.

  • The appraiser workforce is majority white, and it's often difficult to report appraisal discrimination, though new policies are aimed at addressing both of those hurdles.
avatar

Get more local stories in your inbox with Axios Boston.

🌱

Support local journalism by becoming a member.

Learn more

More Boston stories

No stories could be found

Bostonpostcard

Get a free daily digest of the most important news in your backyard with Axios Boston.

🌱

Support local journalism by becoming a member.

Learn more