The Asian American and Pacific Islander (AAPI) community is a more diverse, complex ecosystem of households than its aggregate trend of upward mobility shows. iEmergent conducted an in-depth analysis of homeownership trends among the AAPI community, the fastest growing racial group in the United States, showing the disparities between its two population segments and how credit unions can move beyond one-size-fits-all strategies. While key housing metrics show Asian Americans track closely with national averages, Pacific Islanders lag far behind. This knowledge reveals the need for credit unions to consider how progress for one member segment does not mean progress for all as they craft policy, products, and outreach efforts.
Asian American and Pacific Islander Homeownership Gaps
Lending to members of the AAPI community has been slowly but steadily growing following this cohort’s rapid population growth. The number of Asian Americans more than doubled from 11.9 million in 2000 to 24.8 million in 2023, including growth in both U.S.-born and immigrant populations, and now accounts for 6.4% of the total U.S. population. Pacific Islanders account for .03%, according to 2024 U.S. Census Bureau data.
Despite these demographic gains, homeownership remains a challenge for many within these communities. The Census Bureau does not report a combined homeownership rate for the entire AAPI population. Instead, Asian Americans and Pacific Islanders are reported separately, and both groups trail behind the national homeownership average of 64.9% and the 72.7% rate for non-Hispanic white households.
- Asian American homeownership rate: 61.6%
- Pacific Islander homeownership rate: 43.3%