It’s Time For Black People to Consider Wealth Beyond Home Ownership

For generations, owning a home has been a “Mama, I made it!” moment for Black people. Homeownership wasn’t just about having a lawn; it was about access, security and legacy in a nation where systemic racism denied all three. Redlining, discriminatory lending and restrictive covenants blocked Black people from buying homes where they wanted and contributed to ongoing gaps in generational wealth that continue today.

But in 2026, the housing landscape has changed. For many, this may be a moment to reconsider the pathway to equity.

The New York Times has reported that affordability remains the biggest obstacle for aspiring buyers, noting that “home prices have surged about 50 percent since the pandemic.” What does that mean to the average home seeker? It means that what cost around $200,000 in 2020 ballooned to $500,000 in 2025, according to Statista.com.

With rising down payments, high interest rates, and climbing property taxes, homeowners find it even harder to keep up with maintenance costs, leaving them “house poor.” While white homeownership remains near 70 percent, Black homeownership is just under 45 percent, according to Real Estate News.

This is not a call to abandon ownership. But is It is an appeal to examine motive. If the goal is to have flexibility, mobility and peace of mind, a 30-year mortgage give you that, but for others, it may mean being house poor, dealing with rising property taxes and managing insurance spikes.

This is another way to think about wealth. Diversifying through options like group investment clubs, workplace retirement plans, starting a side business, or continuing your education can help build assets without locking up all your resources in one property.

Simple, community-based approaches—like pooling money with trusted friends to invest together, or joining local co-ops—make it possible to grow wealth without needing deep financial expertise. Renting, co-ops, and even the ability to move for a new job or family need can create space to pivot careers, relocate for opportunity, or simply live lighter, all while continuing to build wealth through pathways that fit your life.

Home ownership is a dream for some, but choosing a different path is acceptable, too.