close the gap, see our entire community thrive
This initiative is dedicated to closing the substantial Black-white homeownership gap in Greater Rochester so families can build assets and pass them down to future generations. Homeownership is the largest contributor to generational wealth creation and transfer. By addressing the root causes of the homeownership gap, including historic racial inequities and systemic issues within the housing market, we can create a future where every family, regardless of background, has the opportunity to thrive.
GREATER ROCHESTER’s racial homeownership gap is staggering
In Greater Rochester, 73% of white households own their homes, compared to only 33% of Black households. This 40 percentage point gap is larger than the national gap of 30 percentage points and has not improved since the Fair Housing Act of 1968. We need a different approach that will interrupt this divide in our community.
LASTING CHANGE REQUIRES A COMPREHENSIVE APPROACH
To create
generational wealth through homeownership, we must:
Create demand
Empower potential homeowners so they can proceed with confidence.
Increase supply
Increase the number of available and affordable homes ready for purchase.
assist homeowners
Support existing homeowners so they can stay in quality homes.
strengthen communities
Invest in neighborhood businesses and assets that enhance quality of life.
To achieve this vision, collaborative efforts and investments are needed.
Let's use the strength of our community to rewrite the narrative
We’ll close the gap by bringing institutions together, pooling influence and resources to foster opportunities, create equitable policies and find innovative solutions.
We’ll close this gap through transparent data and education that help us rethink norms and work for change together. We’ll close this gap with united, insightful actions because that is the way to true progress and prosperity for all.
Together, we will close the gap.
If any of these opportunities resonate with your efforts or those of your organization, or if you have additional ideas on how to increase the number of Black homeowners, we would love to hear from you. Please consider filling out our insights and collaboration form.
By sharing your insights, experiences, and ideas, we can gain a deeper understanding of the challenges we face and identify opportunities for collaboration and innovation. We kindly request information such as your current initiatives and any ideas or suggestions you have for addressing the homeownership gap in Greater Rochester. Your contribution is greatly appreciated.