Study Finds Housing Recovery Divided by Race, Income

By many accounts the housing market has recovered from the crisis that plagued the country during the Great Recession. But a recent analysis conducted by the Washington Post shows an unequal recovery, creating deeper disparity across racial, economic and geographical lines.

Using data from Black Knight Financial Services spanning from 2004 to 2015, the Post found that the average American home has gained less than 14 percent in value, while more expensive homes have increased in value by 21 percent.

Courtesy of the Washington Post

Courtesy of the Washington Post

Many cities that have seen gentrification of urban neighborhoods saw a large gap between rich and poor areas, furthering the spread in home value to an even larger degree than before the housing crash. The analysis also factored in overall regional prosperity.

Perhaps the most marked discovery was the lag in housing recovery found in neighborhoods with larger African-American populations. Zip codes with the largest black populations were more than twice as likely to have homes worth less than they were valued in 2004, versus those in white neighborhoods.

For the full article and to see how your zip code stacks up against the rest of the country, see the article here.