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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 74 March 2024 J O U R N A L STUDY: BLACK AMERICANS AMONG MOST ECONOMICALLY DISADVANTAGED P eople of different races have different socioeconomic outcomes largely because of their ethnicity or skin color, which contributes to racial inequality in the United States. According to a recent LendingTree analysis, Black Americans are among the most econom- ically disadvantaged populations in the country, therefore this is unfortunately and particularly true for them. While it may come as no surprise, Black Americans are frequently disadvantaged in the housing industry. According to new data from LendingTree, Black Americans hold a disproportionately small share of homes in each metro found in the study. Top 10 Metros with the Smallest Differences Between the Share of Homes Owned by Black People vs. the Share of Population That's Black: 1. San Jose, CA 2. Salt Lake City 3. Los Angeles 4. Riverside, CA 5. Portland, OR 6. San Diego 7. San Antonio 8. Denver 9. Austin, TX 10. Phoenix No. 1: San Jose, California » Percentage of the population that's Black: 2.24% » Percentage of owner-occupied housing units owned by Black people: 1.21% Market Trends » Difference: 1.03 percentage points No. 2: Salt Lake City » Percentage of the population that's Black: 1.74% » Percentage of owner-occupied housing units owned by Black people: 0.60% » Difference: 1.14 percentage points No. 3: Los Angeles » Percentage of the population that's Black: 6.12% » Percentage of owner-occupied housing units owned by Black people: 4.72% » Difference: 1.40 percentage points Top 10 Metros with the Largest Differences Between the Share of Homes Owned by Black People vs. the Share of Population That's Black: 1. Memphis, TN 2. New Orleans 3. Milwaukee 4. Baltimore 5. Columbus, OH 6. Virginia Beach, VA 7. Detroit 8. Cleveland 9. Birmingham, AL 10. Atlanta No. 1: Memphis, Tennessee » Percentage of the population that's Black: 47.33% » Percentage of owner-occupied housing units owned by Black people: 35.97% » Difference: 11.36 percentage points No. 2: New Orleans » Percentage of the population that's Black: 33.03% » Percentage of owner-occupied housing units owned by Black people: 23.62% » Difference: 9.41 percentage points No. 3: Milwaukee » Percentage of the population that's Black: 15.70% » Percentage of owner-occupied housing units owned by Black people: 6.57% » Difference: 9.13 percentage points