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Race-Specific Risk Factors for Homeownership Disparity in the Continental United States

Journal Article · · Journal of Data Science
DOI:https://doi.org/10.6339/23-jds1116· OSTI ID:2527320
 [1];  [1];  [1];  [1];  [1];  [1]
  1. Pacific Northwest National Laboratory (PNNL), Richland, WA (United States)
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The United States has a racial homeownership gap due to a legacy of historic inequality and discriminatory policies, but factors that contribute to the racial disparity in homeownership rates between White Americans and people of color have not been fully characterized. In order to alleviate this issue, policymakers need a better understanding of how risk factors affect the homeownership rates of racial and ethnic groups differently. In this study, data from several publicly available surveys, including the American Community Survey and United States Census, were leveraged in combination with statistical learning models to investigate potential factors related to homeownership rates across racial and ethnic categories, with a focus on how risk factors vary by race or ethnicity. Our models indicated that job availability for specific demographics, and specific regions of the United States were factors that affect homeownership rates in Black, Hispanic, and Asian populations in different ways. Based on the results of this study, it is recommended policymakers promote strategies to increase access to jobs for people of color (POC), such as vocational training and programs to reduce implicit bias in hiring practices. These interventions could ultimately increase homeownership rates for POC and be a step toward reducing the racial wealth gap.
Research Organization:
Pacific Northwest National Laboratory (PNNL), Richland, WA (United States)
Sponsoring Organization:
USDOE
Grant/Contract Number:
AC05-76RL01830
OSTI ID:
2527320
Report Number(s):
PNNL-SA--180676
Journal Information:
Journal of Data Science, Journal Name: Journal of Data Science Journal Issue: 4 Vol. 22; ISSN 1680-743X
Publisher:
Institute of Statistical Science, Academia SinicaCopyright Statement
Country of Publication:
United States
Language:
English

References (8)

A random forest guided tour journal April 2016
Explaining the black–white homeownership gap: The role of own wealth, parental externalities and locational preferences journal June 2008
Homeownership, wealth accumulation and income status journal June 2009
Homeownership in the 1980s and 1990s: aggregate trends and racial gaps journal January 2005
New evidence on racial and ethnic disparities in homeownership in the United States from 2001 to 2010 journal September 2013
Random Forests journal January 2001
The Changing Racial and Ethnic Composition of the US Population: Emerging American Identities journal March 2009
The Proof and Measurement of Association between Two Things journal October 1987

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Related Subjects

99 GENERAL AND MISCELLANEOUS
Census
Disparity
Economics
Survey
United States