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The Latino renting journey

This researched Housing Journey identifies distinct obstacles that may affect Latino consumers throughout their renting experience. You’ll also be able to learn about solutions we’re creating to help address these barriers every step of the way.

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Housing Preparation

Preparing to rent

You’ll need to know what monthly rent you can afford, and be prepared to pay up-front costs like a deposit, application fee, and first month’s rent. Latino renters often have more people in their households and face more obstacles than white renters in becoming ready to start their search.


aged 25 – 44 were housing cost burdened in 2019.*
Fannie Mae calculations using the 2019 ACS PUMS
Cost burdens

Cost burdens can make it more difficult to save for housing or moving-related expenses.

* “Housing cost burdened” is defined as paying more than 30% of household income for housing.

of Hispanic renters
said they had trouble finding a place that would accept their housing voucher.
Fannie Mae calculation using 2020 HMDA
Voucher challenges

Among renters who need to use housing vouchers, Hispanic renters had the most difficulty finding housing that would accept them. Voucher holders spend an average of 28 months on a waiting list.

Fannie Mae Multifamily Renters Needs Research, August 2021

Fannie Mae actions

  • Pilot options to defray and/or decrease the cost of renter security deposits
  • Continue to advance Sponsor-Initiated Affordability, a Fannie Mae Multifamily loan incentive initiative for use by multifamily borrowers and lenders

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Find and rent a home or apartment

Choose suitable locations and search by consulting a real estate agent or looking through available rental listings. You’ll need to fill out an application, have it approved, and pay up-front rental fees and costs. Latino renters often face more obstacles than white renters in being shown available rentals and getting applications approved.


have had a rental application turned down.
Fannie Mae Multifamily Renter Needs Research, August 2021
Rental application rejection

Latino renters’ applications are rejected more often than white renters’ applications.

Fannie Mae Multifamily Renter Needs Research, August 2021
Application challenges

Latino renters face more difficulties with the application process than white renters.

Fannie Mae actions

  • Pilot positive rental payment reporting across the multifamily industry
  • Solutions to defray up-front renter security deposits

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Move In & Maintain

Be a confident renter

Once in your rental, you’ll need to pay rent every month as well as ongoing costs like utilities. Latino renters are more often impacted by unforeseen fees and higher eviction rates than white renters.


Latino households tend to live near each other in higher-cost, more dense urban areas.
Dey and Brown, 2022
Higher cost of living

Although more Latino renters are buying homes, they often rent and buy in higher-cost areas and may have more difficulties making regular rent payments or saving for a down payment to purchase a home.

faced excessive rent increases during lease renewal.
Fannie Mae Multifamily Renter Needs Research, August 2021
Housing insecurity

More Hispanic renters moved out of their last rental homes because they could no longer afford rent.

Fannie Mae actions

  • Expanded counseling services for renters and homeowners facing hardship
  • Pilot options to defray and/or decrease the cost of renter security deposits
  • Pilot a multifamily borrower diversity program to reduce barriers for property owners from historically underserved groups

Fannie Mae actions to help diversify the housing industry

We are pushing our company and the housing industry to better reflect the true diversity of our nation and communities we serve. Our innovative programs aim to grow a more inclusive housing sector for renters, homeowners, lenders, borrowers, and our employees.

  • Future Housing Leaders® — Attracts more college students to positions across the mortgage and housing industries.
  • Multifamily Borrower Diversity Program
  • DUS® Correspondent Lender Diversity Program
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