The San Diego Black Homebuyers Program has resulted in:
In seed funding from the Black Community Investment Fund
Families realizing their dream of homeownership
Generational Wealth-Building through Black Homeownership
Research shows that the growing racial gap in homeownership rates, home equity and overall wealth has contributed to the broader racial disparity in wealth accumulation.
In San Diego, fewer than 30 percent of Black families own homes compared to 61 percent of white families.
Nationwide, the median white family has 10 times the wealth of the median Black family. The wealth gap, which vastly exceeds the income gap, is the result of years of public policy and private behavior designed to exclude families of color from opportunities to build wealth.
Launched in partnership with LISC San Diego and the Urban League, the San Diego Black Homebuyers Program – the first of its kind in California – provides up to $70,000 in grants to qualifying prospective Black homebuyers as well as financial literacy education.