Exploring the Differing Homeownership Needs of Hispanic Millennials
Looking at a side-by-side comparison of California Hispanic Millennials based on whether they are Spanish-dominant or bilingual/English-dominant reveals some notable differences.
The California Association of Realtors (CAR) recently shared this infographic with some interesting information comparing the needs and perceptions of Hispanic Millennials when it comes to home ownership based on their language usage.
Among the findings revealed in this infographic:
- Bilingual/English-dominant speakers have a slightly higher preferred home price compared to Spanish-dominant speakers ($271,000 vs. 249,000)
- 44% of bilingual/English-dominant speakers plan to purchase a home in the next 2 years vs. 36% of Spanish-dominant speakers
- Spanish-dominant speakers are more likely to live at home with their parents/family
- Spanish-dominant speakers note the primary benefit of homeownership as “having the freedom to do what I want with my home” whereas bilingual/English-dominant speakers say it’s “an improved quality of life for my family”
These findings serve as a reminder of why it’s important to speak to the different needs and perceptions individuals can have across languages and cultures. When looking at U.S. Hispanics, remember one size does not always fit all.