Black Homebuyers Program

The systematic oppression and structural exclusion from access to financing and economic opportunities for Black people in America has led to the average Black household holding about 1/10th the net worth of the average White household. One key source of wealth for the average White household is home equity.1 There has been a 20 to 30 percent gap between Black and White homeownership rates for more than 100 years. The racial homeownership gap rings true for San Diego County as well, where studies place the Black homeownership rate at 31 percent versus that of White households at 65 percent.2

 Black household holding about 1/10th the net worth of the average White household.

With these sobering facts in mind, a collective including The San Diego Foundation, LISC San Diego and the Urban League of San Diego County, have united to launch the San Diego Black Homebuyers Program, which seeks to improve the racial wealth gap in San Diego by investing in generational wealth building opportunities through Black homeownership.

The San Diego Black Homebuyers Program was founded with a $1 million grant from The San Diego Foundation Black Community Investment Fund and with administrative funding from the County of San Diego, through the office of the Chair, Nathan Fletcher, along with other charitable contributors.



[1] Oliver, M. L., & Shapiro, T. M. (2019). Disrupting the Racial Wealth Gap. Contexts, 18(1), 16-21

[2] Anderson, D. “Minneapolis, Milwaukee & Salt Lake City Have the Lowest Black Homeownership Rates in the U.S., With Just One-Quarter of Black Families Owning Their Home.” Redfin News. Updated October 19, 2020, https://www.redfin.com/news/black-homeownership-rate-across-united-states/