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Nevada housing program aims to close minority homeownership gap

Home At Last
Posted at 8:06 AM, Jul 06, 2022
and last updated 2022-07-06 12:33:59-04

LAS VEGAS (KTNV) — As Las Vegas home prices remain at record highs, Nevada Rural Housing is offering a program to help families buy a home. Home At Last assists with down payment and closing costs for prospective home buyers with moderate to low household income.

“When people are planted in their roots, in their own home, it does great things for community development,” said Kevin Hickey, Home At Last business development specialist.

REPORT: Nearly 7,000 single-family homes available in Las Vegas Valley

The 2020 Census Bureau recorded the largest minority home ownership gap in 60 years. In Las Vegas, 28 percent of African American families are homeowners, 41 percent of Indigenous families own a home and 47 percent of Hispanic families own a home, in comparison to their white counterparts with 60 percent of homeowners. Nevada Rural Housing looks to close that gap.

“We know that owning a home is the biggest way to create generational wealth and starting that now or any time,” Hickey said. “It’s never too late, it’s never too soon.”

DIGGING DEEPER: What's driving up Vegas area home prices? What does it mean for those who live here?

Hickey added that when more Nevadans are able to purchase a home of their own, we all benefit through stronger, more stable and economically vital communities.

For more information on Home At Last, CLICK HERE.