MILWAUKEE ⁠— Milwaukee faces stark racial inequities in homeownership, ranking last among its peers, according to a report released this month by Wisconsin Policy Forum.

Over the last 12 years, homeownership disparities in the city have only continued to widen. Black households suffered the highest decline in ownership, despite an increase in the number of Black households. Specifically, Black households in Milwaukee increased by 2.3% between 2010 and 2020, ⁠while the number of Black homeowners decreased by 24.6%.

Five-year estimates from the 2020 U.S. Census Bureau indicated that Milwaukee’s white homeownership rate was at 55.8%, compared to 25.5% for Black homeownership. Hispanic homeownership was at 38.5%.

Milwaukee ranked the lowest in Black homeownership among its peer cities.

The Wisconsin Policy Forum report compared Milwaukee with other cities that had similar variables such as population, median household income, the share of Black and Hispanic residents and more. The group of cities included Albuquerque, Baltimore, Cleveland, Detroit, El Paso, Fresno, Kansas City, Memphis, Tampa and Tucson. 

“These findings suggest that advancing racial equity in homeownership is both urgent and difficult in Milwaukee,” the report stated. “Advancing racial equity in homeownership is especially important given that Black and Hispanic residents comprise more than half of the city’s total population.”

National and local home prices and mortgage rates continue to reduce affordability. From 2021 to 2022, home prices in Milwaukee County rose by 5.4%, according to the Greater Milwaukee Association of Realtors.

Despite these factors, the report said that Milwaukee stood out among 11 peer cities for its public-private strategic affordable housing plan, which is explicitly focused on advancing racial equity in homeownership.

The plan, known as the Collective Affordable Housing Strategic Plan, was developed in 2021 and seeks to help 32,000 Black and Hispanic households become homeowners over 10 years. It involves adopting strategies like homebuyer counseling, down payment assistance and helping existing Black and Hispanic homeowners remain in their homes.

The full report can be read, here.