Chicago south suburbs lead nation in black home ownership

Pew reports:

Olympia Fields has a black homeownership rate of 98 percent. It is one of only a handful of sizeable, majority-black communities in the United States where the black homeownership rate exceeds 80 percent.

Nationally, the black homeownership rate is only 41 percent — virtually unchanged from 50 years ago, when the federal Fair Housing Act banned racial discrimination in housing. The national white homeownership rate is 71 percent. Incredibly, the gap between black and white homeownership rates is wider now than it was in 1900, according to a study released in April by Zillow, an online real estate company.

Four other black-majority municipalities with homeownership rates of at least 80 percent — Flossmoor, Lynwood, Matteson and South Holland — also are suburban communities south of Chicago, within a few miles of Olympia Fields.

dennis@dennisbyrne.net

www.dennisbyrne.net

My historical novel: Madness: The War of 1812

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