Boston Commits $106 Million to Homeownership Programs Targeting Racial Wealth Gap

BOSTON — July 19, 2026 — Boston commits $106 million to homeownership programs, targeting racial disparities. Mayor Michelle Wu announced the investment July 19 at the Massachusetts Affordable Housing Alliance's Sheridan Higgins Home Ownership Center, citing stark disparities: 44 percent of white Boston households own their homes compared to 31 percent of Black households, 30 percent of Asian American households, and just 17 percent of Latino households. The funds will expand the One Plus Boston mortgage program's interest rate discounts, increase down payment and closing cost assistance — including for first-generation homebuyers through the STASH program — and accelerate construction of affordable for-sale units. Chief of Housing Sheila Dillon said resources must be "very intentional" to correct racial inequities and invited public ideas on tackling student debt as an additional homeownership barrier. The $106 million is part of a broader $380 million, three-year housing stability package bridging ARPA and city budget dollars — described by Greater Boston Interfaith Organization speaker Beverly Williams as the largest housing commitment the city has ever made.