Latino home ownership falls

The Hispanic homeownership rate fell in 2024 for the first time in ten years, even as the total number of Latino homeowners rose and a new plan set a bold target to narrow the wealth divide. The findings come from the Hispanic Wealth Project's latest State of Hispanic Wealth Report, which outlines a 10-year strategy to cut the proportional wealth gap between Hispanic and non-Hispanic White households by 50 percent by 2034.

According to the report presented during the ProXimo at AVANCE Global, the homeownership rate among Hispanic households dipped to 49.0 percent in 2024 after nine consecutive years of growth.

The decline did not reflect a loss of existing owners. Instead, it was driven by rapid household formation that outpaced new purchases by roughly three to one. Latino households grew by 664,000 last year, accounting for 44.8 percent of all new U.S. households. Within that surge, the number of Hispanic owner-households still climbed to 9.8 million, a net gain of 232,000, the largest increase among any racial or ethnic group.

The housing market backdrop helps explain the split between rate and raw numbers. Home prices rose 5.1 percent year over year in 2024 and are up 53.5 percent over five years, while average 30-year mortgage rates hovered between 6.0 and 7.25 percent. Higher prices and borrowing costs made qualifying tougher and monthly payments heavier, especially for first-time buyers. Even so, the report underscores why homeownership remains central to Latino wealth. In 2022, equity in a primary residence made up one-third of Hispanic household wealth. When investment properties are included, real estate accounts for nearly half of total assets.

Latino wealth

Beyond homeownership, the report points to business formation as a second engine of wealth. Latinos started 36 percent of all new U.S. businesses in 2023. Hispanic-owned employer firms reached 465,202 in 2022, up 14.6 percent from the previous year, while the total number of U.S. firms declined slightly. Over five years, Hispanic employer firms grew 44.4 percent. Latina founders led much of that expansion, with Latina-owned employer businesses up 56.0 percent from 2017 to 2022. Altogether, Hispanic employer firms now employ 3.6 million people and generate more than 653 billion dollars in annual revenue.

One of the starkest gaps appears in asset protection. Only 24 percent of Hispanic homeowners over age 50 have a will or trust, the lowest rate among major demographic groups. The project is aiming to lift estate planning participation to 30 percent across Hispanic households and to 75 percent inside its professional network by 2034, citing wills and trusts as essential to preserving gains and transferring wealth efficiently.

To support scaling and sophistication, the Hispanic Wealth Project will launch a High Net Worth Boot Camp in 2026, a biannual ten-week program with workshops, expert sessions, personalized planning, and access to investor networks. The broader strategy continues to focus on four pillars, real estate, business ownership, financial assets, and asset protection, with a through-line of culturally relevant financial education and expanded access to capital.

The ProXimo at AVANCE Global

The conference was held in San Diego from September 18–21, 2025. Led by NAHREP CEO and Hispanic Wealth Project Founder Gary Acosta, and media executive and New York Times best-selling author Nely Galán, the conference featured renowned speakers and panelists highlighting current & upcoming projects and sharing their journeys through their respective industries. More than 7,000+ diverse leaders and creatives across media, tech, finance, and entertainment attended and networked during the four-day event.

"We are proud to have engaged many industry leaders, tastemakers and stakeholders to inspire as well as showcase the spending power of the U.S. Hispanic communities. We are CEOs, authors, athletes, content creators and so much more. The economic future of our country will rely on Hispanic wealth and growth," said Acosta.

Throughout the week, industry leaders such as Bing Chen, the Executive Chairman, CEO, and Co-founder of Gold House along with Rocket Companies CEO, Varun Krishna, author and wealth advisor, Carla Harris, founder and CEO of the revolutionary entertainment platform, Gold House, Bing Chen, Hollywood Film Producer, Alexis Garcia, NBC Evening News Anchor, Tom Llamas, venture capitalist Beto Pallares, co-founder and chair of The World Innovation Network (TWIN), Robert C. Wolcott, General Manager of the Cal Bears and Former NFL Head Coach Ron Rivera, and activist-entrepreneur Cristina Jiménez Moreta participated in panel discussions and fireside chats. Decorated author and poet, Sandra Cisneros, was honored with a special tribute at the ProXimo Masquerade Ball. Celebrities such as Frankie Quiñones, J.R. Ramirez and Zulay Henao also presented at the event and spoke about the importance of Latino representation on screen. Throughout the conference breakouts and workshops created opportunities for professionals to explore new tools, strategies, and build partnerships with results-driven peers

Originally published on Latin Times