This May, PAR recognizes Asian American, Native Hawaiian and Pacific Islander Heritage Month.
In 2023, Asian Americans saw some of the largest gains in homeownership among racial groups, according to the National Association of Realtors® 2025 Snapshot of Race and Home Buying in America. From 2013 to 2023, the Asian American homeownership rate increased from 57.8% to 63.4%. This gain translates to about 1.6 million more Asian-owner households over the decade.
Compared to other racial demographics, Asian American homeowners lag slightly behind the White homeownership rate (72.4%) but rise above the Black (44.7%) and Hispanic (51.0%) homeownership rates.
Across all 50 states, plus Washington, D.C., the Asian American homeownership rate ranged from 30% (North Dakota) to 75% (Hawaii). In Pennsylvania, the rate was 63%.
Although Asian Americans have the highest homeownership rate among minority racial groups, they continue to face barriers and challenges throughout the homebuying process.
“AANHPIs have the highest income on average out of all racial groups, as well as the highest average credit score,” notes the Asian Real Estate Association of America’s 2024 State of Asia America Report. “Despite that, the Urban Institute found higher denial rates for Asian applicants than their White counterparts at all income and DTI levels.”
AREAA’s report notes that in 2022, the denial rate for Asian mortgage applicants was 9.2% compared to 5.8% for non-Hispanic White applicants. Additionally, in 2023 alone, following the pandemic, dozens of discriminatory land bills were introduced nationwide with the explicit or implicit purpose of limiting property ownership for Chinese immigrants specifically.
This AANHPI Heritage Month, read JustListed articles about Asian American Realtors® in Pennsylvania sharing their stories and advocating for homeownership for all:
Topics
Member Discussion
Daily Emails
You’ll be the first to know about real estate trends and various legal happenings. Stay up-to-date by subscribing to JustListed.
