The home ownership gap isn’t shrinking, with a 42% gap in the Twin Cities metro area. 76% of White people are homeowners, and 34% of Black people own homes.
Older people are far more likely to be homeowners than younger people, which makes sense. It takes a while to secure a job and save up for a down payment. The median age for first-time homebuyers hit a record high in 2024, at 38 years old.
Here is an infographic that shows Homeownership Demographics for Minnesota.
