Black Homeownership & Building Generational Wealth—We Are Still Making History

Homeownership has long been considered a cornerstone of wealth-building in America. Yet, for Black executives, entrepreneurs, and high-earning professionals, the path to homeownership remains filled with unique challenges. Despite increasing income levels and career advancements, Black homeownership rates still lag significantly behind those of other racial groups. And while we’ve made tremendous strides in education, business, and leadership, the reality is that we are still underrepresented in homeownership—a key factor in closing the racial wealth gap.

One of the most striking statistics in today’s housing market is the increasing age of first-time homebuyers. Historically, the average age of a first-time buyer was in the mid-20s. Today, that number has risen to 38 years old. For Black buyers, that timeline is often even longer due to systemic barriers, lack of generational wealth, and economic disparities that have persisted for decades.

Why Homeownership Matters More Than Ever

Owning a home isn’t just about having a place to live—it’s about building something that outlasts us. It’s about honoring the sacrifices of those who came before us and creating something tangible for future generations. Black homeownership isn’t just personal; it’s historical. It’s about shifting narratives, reclaiming economic power, and ensuring that our children and grandchildren have a foundation to build upon.

When we, as Black professionals, take ownership of real estate, we do more than increase our net worth. We strengthen our communities, stabilize our families, and change the legacy of what financial security looks like for Black Americans. We are still making Black history—every single day.

How We Change the Narrative

• Leverage our resources. We have access to financial literacy, investment knowledge, and mortgage options that previous generations didn’t. We must take full advantage of them.

• Advocate for homeownership. Educate family, friends, and colleagues on the importance of real estate ownership and wealth-building.

• Be intentional with our purchases. Consider multi-generational wealth strategies such as real estate investment, house hacking, and ownership within Black communities.

• Use our influence. As executives, entrepreneurs, and professionals, we have the ability to lead by example and encourage a culture of ownership.

The Time is Now

Black homeownership is more than a personal milestone—it’s a movement. It’s about rewriting the story for our families and our future. If we truly want to close the racial wealth gap, it starts with making ownership the standard, not the exception.

Are you ready to make history? If you’re thinking about buying your first home, investing in real estate, or expanding your portfolio, let’s start the conversation today. Luxe Living Realty® is here to guide you every step of the way.