R
OCKFORD, Ill. - A nationwide organization aims to boost Hispanic homeownership in Rockford through a local chapter. City leaders believe this will empower more members of the community to become homeowners.

    Rockford Mayor Tom McNamara says the city's diversity has long needed an initiative like this. Real estate experts note that Hispanic homeownership is one of the fastest-growing segments nationwide, with around 51% of Hispanic people owning their own home.

    Local board president Jeanette Solis highlights language barriers and higher down payments as significant hurdles to homeownership in the community. She wants the organization to educate and advocate for Hispanic residents, welcoming anyone to join.

    Conor Brown, CEO of the Northwest Illinois Alliance of Realtors, says affordability is a concern despite Rockford being ranked one of the cheapest places to live by U.S. News and World Report. The city's affordable housing market makes it attractive to Hispanic homebuyers.

    The average home price in Rockford has increased 12% since September 2023, reaching over $224,000. Realtor.com also ranks Rockford as the third hottest real estate market based on demand.