Hispanic Americans

Hispanic Americans as Housing Consumers

Among the values held in common by all Hispanics are the importance of the family unit and the goal of homeownership. As of 2009, 75% of Whites owned homes, compared with 59% of Asians, 49% of Hispanics, and 48% of Blacks. The gap in home-ownership rates is reduced by taking nativity into consideration. About 54% of Hispanic American native-born householders own homes, compared to 45% for Hispanic immigrant householders. This strong desire to own a home is exemplified by the fact that over 20% of Hispanic families in poverty actually own their homes. The high priority placed on ownership by Hispanic families, even with limited means, indicates Hispanic Americans are willing to sacrifice other important or essential items, such as health insurance or a private means of transportation, in order to attain homeownership. Using data from the Survey of Consumer Finances, Russell James and Jorge Atiles found that Hispanic renters were much more likely to be actively saving to buy a home than either non-Hispanic White or non-Hispanic Black renters. However, Hispanic households are less likely to move from the saving to the owning stage, with one explanation being that there still exist high barriers to obtaining credit due to a high percentage of these households lacking the information necessary to adequately prepare for homeownership. Once they become owners, Hispanics are also less likely to sell their homes than to pass them on to their children like a family heirloom. For the Hispanic family, a home is much more than shelter. It is the center for the development of family relations; it provides the basis for social engagements and community activities.

While the importance of the home is common to all Hispanic populations, differences exist in housing characteristics and housing quality by subgroup origins. In general, Cubans continue to have better housing mostly in suburbs when compared [Page 266]with other Hispanic subgroups. Meanwhile, Puerto Ricans generally have the worst housing in older sections of inner-city settings. Differences are also found among immigrants within the Hispanic population. Immigrant families with a longer history within the United States have better housing than those whose residence is temporary or who are recent arrivals to the United States. For example, 59% of immigrants who arrived in the United States before 1990 own homes, compared to 20% of immigrants who arrived in the United States after 2000. Further differences are found within a range of economic statuses, cultural factors, generational differences, regional differences, immigration statuses, and family statuses. There are also differences among subgroups in housing choice, type, and form of tenancy. For example, the more cosmopolitan subgroups, Cubans and Puerto Ricans, are more willing to accept and participate in alternative living arrangements, such as cooperative or shared housing. Persons of Mexican origin, by contrast, generally have more rural origins and a relatively narrow view of single-family private property ownership.

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