Homeownership Increase Among Hispanics

April 24, 2002

U.S. Census Bureau data released today shows that homeownership among Hispanics rose substantially to 46 percent. This increase is attributed in part to the robust economy, an established Hispanic community, low interest rates and the growing number of Hispanic households.

"As a Hispanic American, I take special pride this achievement by the Hispanic community. As the Secretary of Housing and Urban Development, I am mindful that much more needs to be done," said Secretary Mel Martinez.

"While the Hispanic homeownership rate rose to an all time high, it still lags far behind the national average for all people. This Administration is committed to building on these accomplishments by making it easier for Hispanics and all Americans to realize the dream of homeownership. The President's new housing initiatives, which include the downpayment assistance program and increased funding for housing counseling services, will pave the way for thousands more to achieve that dream."