Yuma has 15th smallest minority homeownership gap in U.S.
YUMA, Ariz. (KYMA, KECY) - Minority homeownership in Yuma is on the decline.
A recent study by construction coverage, which looked at over 250 locations across 50 states including Yuma, shows the Yuma area with the 15th smallest minority homeownership gap among all small U.S. metros. This makes it the lowest level locally in recent years.
While white homeownership has slightly increased, minority homeownership is seeing a dip.
"I think...it’s mainly a lack of education," said local realtor, Kassandra Carrazco. "For example, we have very few millennial homeowners, and that’s something I’m trying to focus on in my career. Now I’m really passionate about making sure that Millennials and even Gen Z are educated, and they know they also have options when it comes to homeownership."
“I think it’s a lot of like we need to educate lower income and minorities to let them know that it is possible to own a home," said local homeowner, Yorshia Molina.
The 2008 housing market crash and recession led to higher rates of home loss for minorities than white homeowners.
Other factors include demographic area, housing costs, and employment opportunities.
However, Kassandra said it's never too early to invest in your future.
"I just want to tell people it is possible. You don’t need to have tens of thousands saved up. You don’t need to be a middle-aged person finally in your dream job to be able to buy your dream home" said Kassandra.
Yorshia Molina is just 23 years old and already bought her first home.
"This is like a huge emotional thing for me because it’s just such a huge accomplishment for someone my age. And where I come from- it’s just you don’t see that a lot," shared Yorshia.
She said she grew up in low-income apartments and wishes she had seen more diversity of homeowners in her neighborhood growing up.
"I grew up in apartments and there weren’t many people to compare or to learn from…I do wish that there was more diversity," said Yorshia.
Now, she and Kassandra say they hope to encourage other low-income young minorities that it is possible to own a home.
"That’s why I do what I do and that’s why I’ve been in it for so long because there’s nothing more satisfying for me then to hand over keys to somebody who thought they’re never going to be a homeowner," said Kassandra.
If you’re interested in buying your first home, Kassandra suggested getting connected to a lender and first-time buyers program to help find your dream home.
