Housing & Neighborhood Development Annual Report 2024-25

Advancing Racial Equity in Homeownership

In 2025, Housing & Neighborhood Development compiled and produced the Analysis of Impediments to Fair Housing Choice Report, which identified both gaps and successes in housing access. The data suggests strong lending engagement in Greensboro, highlighting the City’s role in advancing racial equity in homeownership. The report noted that in 2023, Black or African American borrowers in Guilford County accounted for 25 percent of all mortgage loans (4,848 loans totaling $748.9 million), compared to 20 percent in the broader Greensboro Metropolitan Statistical Area (MSA). Also, Black or African American women represented 34 percent of all female mortgage applicants in the Greensboro MSA. This represents a strong share of lending activity and signals progress toward increasing access to homeownership for Black women, a group that has historically faced significant barriers due to discrimination, lower average household wealth, and restricted credit access. In Guilford County as a whole, the share was even higher. Black women accounted for 41.4 percent of female applicants. This high volume of lending indicates meaningful progress in expanding access to homeownership for a group historically excluded from credit opportunities, with positive implications for wealth-building and housing choice. These trends also may reflect the effectiveness of local outreach efforts,

Homebuyer Program Offering Income

Maximum Program Total

Maximum Amount

Geographic Bonus

Low-Income Homebuyer Assistance

80% AMI or below

$25,000 $5,000 $30,000

Public Service Heroes

Up to 120% AMI

$20,000 $10,000 $30,000

Up to 120% AMI

#100Homes

$20,000 $5,000 $25,000

AMI = Area Median Income

community-based financial programs, and increased participation by lenders in addressing disparities. Within the City’s homebuyer assistance programs, Black or African American households make up 78% of the first-time homebuyers, and in particular, Black or African American female headed households comprise 58% of the recent buyers. This indicates Greensboro’s homebuyer assistance programs are playing a stronger role in expanding access to mortgage credit for Black residents than surrounding areas, potentially due to targeted outreach, community lending efforts, or higher urban demand. The City has recently increased the amounts available under its homebuyer programs to ensure lower-income households will still have access to a rapidly rising housing market.

Numbers BY THE

RESIDENTS RECEIVED HOMEBUYER EDUCATION 290

TOTAL HOMEBUYER ASSISTANCE $615,000

TOTAL VALUE OF HOMES PURCHASED $11.18M

50

245

HOMEBUYERS ASSISTED

LOW-INCOME HOUSEHOLDS RECEIVED TAX ASSISTANCE

11