Discrimination in the Real Estate Industry: Survey Results

August 3, 2020

The United States has made long strides in its civil rights movement. But things are still far from perfect. In a recent survey by Zillow, the real estate giant reports that the disparity between white homeowners and black homeowners is staggering. 

The specifics are telling. According to the data from the Home Mortgage Disclosure Act, black applicants are denied a mortgage at a rate of 80% higher than white applicants.

Thought black homeownership is up since the recession of 2008, it has stalled out at 44% out of all homeowners.

Zillow survey data also revealed that black homebuyers are 59% more concerned about being discriminated against during the home buying process than white buyers (46%). This is with good reason, as the survey showed that lenders deny mortgages to black applicants at 1.8 times the rate of white applicants. The denial rate for conventional loans is 2.2 times higher for black people compared to white people. This is due in part to credit history playing a role in the decision making for lenders. 

Discrimination is rampant in many aspects of our lives, even when it comes to looking for a dream home. Something that needs to be addressed by companies within the real estate industry. 

August 3, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Cooperrocketacq
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More
Scout24 German Houses 1
Scout24 Closes Another Data-Focused Acquisition

Germany-based marketplace operator Scout24 has continued its expansion into real estate data with the acquisition of Austrian proptech firm ImmoUnited....

Read More
People Roundup 28Mar 2
People Roundup: Aviv Group, Pisos.com, Kleinanzeigen, REA India, Anjuke

There have been several high profile C-suite moves in this week's People Roundup. We'll start in Europe...   Europe: Aviv...

Read More
Product Update 2025Mar28 3
Product and Services Roundup: Zoopla, ViewIt

This week's Product Roundup starts in the UK, where it's all about Zoopla...   UK: Zoopla's MyHome product is used...

Read More

Editor's Pick