Report: Pa. has 17th lowest minority homeownership rate | Monday Morning Coffee

Row home facades on a residential street off Germantown Avenue in the Germantown section of Philadelphia, PA. (Photo by Bastiaan Slabbers/NurPhoto via Getty Images)

Good Monday Morning, Fellow Seekers.

The Keystone State finishes near the bottom of the 50 states for the percentage of minority homeowners who own their own homes, according to a new report taking a look at one of the key indicators of the net worth of American households.

Two assets, home equity and retirement accounts, account for nearly two-thirds (63 percent) of Americans’ net worth. But prior to the start of the pandemic, only 65 percent of households owned their homes, researchers at Construction Coverage, an industry trade publication concluded. That share was even lower, just 47 percent, among minority households.

“The gap in homeownership between White households and minority households has long persisted. Despite this gap, homeownership rates across ethnic groups have largely trended together with the ups and downs of the economy,” the report found. “In recent years though, the Hispanic homeownership rate has grown faster than that of any other group. Experts attribute this increase to gains in income and education, and a large millennial population entering homeownership age.”

In Pennsylvania, where nearly a quarter of the population (24.4 percent) claimed identification with a minority group, only 45.3 percent of households owned their own homes. That’s the 17th lowest rate nationwide, researchers concluded.

Below, a summary of home ownership rates across the state’s entire population.

(Image via Construction Coverage)

Here’s a look at the demographics of home ownership among Pennsylvania’s minority population:

  • Black homeownership rate: 43.2 percent
  • Hispanic homeownership rate: 41.2 percent
  • Asian, Native Hawaiian, & Pacific Islander homeownership rate: 58.3 percent
  • White homeownership rate: 74.5 percent
  • Minority population share: 24.4 percent

And, from the report, a look at how that compares to the rest of the nation:

  • Minority homeownership rate: 47.4 percent
  • Black homeownership rate: 41.8 percent
  • Hispanic homeownership rate: 47.3 percent
  • Asian, Native Hawaiian, & Pacific Islander homeownership rate: 59.1 percent
  • White homeownership rate: 71.9 percent
  • Minority population share: 40 percent
(Image via Construction Coverage)

Philadelphia ranked 8th nationwide among America’s largest cities with the highest minority home ownership rate, the report found. Here’s how that broke down:

  • Minority homeownership rate: 48.2 percent
  • Black homeownership rate: 48.4 percent
  • Hispanic homeownership rate: 44.6 percent
  • Asian, Native Hawaiian, & Pacific Islander homeownership rate: 54.3 percent
  • White homeownership rate: 58.5 percent
  • Minority population share: 65.8 percent

Researchers said they arrived at their rankings by crunching the latest housing data from the
U.S. Census Bureau’s 2019 American Community Survey 5-year estimates.

Pennsylvania State Capitol Building. (Capital-Star photo by Cassie Miller.)

Our Stuff.
In this week’s edition of The Numbers RacketCassie Miller takes an in-depth look at state scorecards, including Pennsylvania, grading electric vehicle infrastructure, and finds that there’s some room for improvement.

Stephen Caruso brings you a fascinating look at the life and work of state Rep. Harry Bass, R-Philadelphia, the first Black person ever elected to serve in the General Assembly. If you read one story this morning, read this one. If you read two stories, read this one again.

Toasted Walnut, Philadelphia’s sole lesbian bar, has closed its doors for good. Our partners at the Philadelphia Gay News have a look back at the iconic gathering spot.

In another important read, reflecting the commonwealth’s diverse fabric, Cassie Miller explains how state officials are working to ensure that the state’s history, and its historical markers, reflects that broad mosaic.

On our Commentary Page: A genderqueer sociologist offers five tips to parents on how they can disrupt gender-based discrimination in childhood. A Clark University scholar explains why Black Americans aren’t rushing out to get the COVID-19 vaccine. From our sibling site, the Virginia Mercury, environmental activist Ivy Main muses on whether, in the aftermath of a devastating winter storm, we can take lessons from the Texas debacle. Opinion regular Lloyd E. Sheaffer reflects on our pandemic year: What we’ve learned, what we’ve lost, and where we go next. And Pennsylvania had teacher pension money invested in Iraq. Opinion regular Mike Connolly explains how that happened.

En la Estrella-Capital, Filadelphia agrega el VIH a la lista de afecciones médicas elegibles para la vacuna contra el COVID-19. Y los legisladores Republicanos acusan a la adminstración de Wolf de tratar de arreglar los resultados de la pregunta electoral que limita los poderes de emergencia de los gobernadores.

Image via WikiMedia Commons)

Elsewhere.
The Philadelphia public schools will announce their reopening date today, the Inquirer reports.
Pittsburgh Mayor Bill Peduto has questioned part of a settlement over a controversial office project in the city’s Oakland neighborhood, the Post-Gazette reports.
Pennsylvania lags most states in getting vaccines to seniors, PennLive reports (paywall).
Officials in Lehigh County are investigating the death of an inmate who was found dead in his cell, the Morning Call reports.
candlelight vigil will honor Luzerne County residents who lost their lives in the pandemic, the Citizens-Voice reports.
A judge has dismissed house arrest for a Lebanon County police officer charged in connection with the Capitol riot, the Lebanon Daily News reports.

Here’s your #Harrisburg Instagram of the Day:

 

View this post on Instagram

 

A post shared by Heather (@whitworth.heather)

Mass shootings and incidents of gun violence have pushed victims services organizations into ‘overdrive,’ WHYY-FM reports.
State College is getting ready for a very different State Patty’s Day weekendWPSU-FM reports.
First Lady Jill Biden will visit Erie County on Wednesday, GoErie reports.
PoliticsPA runs down last week’s winners & losers in state politics.
Stateline.org looks at Republican-led efforts in states to take on ‘cancel culture’ and political speech.
A debate over voting rights is expected to take center stage on Capitol Hill and the courts as states mull their own restrictions and changes, Roll Call reports.
The former president repeated his baseless claims of election fraud during this weekend’s CPAC gathering in Florida, Talking Points Memo reports.

What Goes On.
The House and Senate are both out of voting session until March 15. Budget hearings roll onward before the House Appropriations Committee. All sessions are in the House chamber. Here’s the day’s schedule:
10 a.m.: Dept. of Education (runs through 3 p.m.)
3 p.m.: Pennsylvania Commission for Community Colleges
The House Democratic Policy Committee also meets 3 p.m. in G50 Irvis.

You Say It’s Your Birthday Dept.
Belated best wishes go out this morning to Megan Lavey Heaton, of PennLive, and Peter Hall, of the Morning Call, both of whom celebrated on Sunday. Hope it was a good one, friends.

Heavy Rotation.
Music legends Kenny Gamble and Leon Huff are ringing in the golden jubilee of the iconic Philadelphia sound, celebrating the legacy of some of the greatest soul music ever committed to tape. Because it’s impossible to pick a favorite tune from that voluminous catalogue, here’s an entire playlist Philadelphia International Records classics to power you through the first day of the working week.

Monday’s Gratuitous Hockey Link.
Chicago’s Patrick Kane scored his 400th career goal 
as the Blackhawks bested the Red Wings 7-2 on Sunday. The Original Six match-up was Chicago’s sixth win in eight games.

And now you’re up to date.