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| Sponsored by Quicken Loans |
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| Gap Slims Between Low- and High-Income Homeownership Rate |
| By Suzanne De Vita |
Individuals with low incomes have historically struggled to become homeowners, cut off from the opportunity to not only build wealth through equity, but also establish an appreciating, long-term asset. New research now shows the homeownership rate in the lowest income tier is catching up to that of high-earners, edging closer since the onset of the recovery. According to a study by Trulia, the homeownership rate of high-income households is 2.3 times the rate of low-income households: 77 percent versus 34.9 percent. The disparity, however, has thinned since 2012, when the homeownership rate of high-income households was 2.4 times higher than that of low-income households. ...
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