Based on U.S. Census figures, the Hispanic community in the United
States is the fastest growing demographic group in the country.
Between 1990 and 2003, the Hispanic population grew 61 percent from 21.9 million to 35.3 million.
According to the US Census Bureau, by the year 2050 the Hispanic population of the US will nearly triple: “The Hispanic population will jump from 35.6 to 102.6 million, or from 12.6 percent to 24.4 percent of the (American) population. Latino purchasing power has increased from $223 billion in 1990 to $490.7 billion in 2002 and is projected to grow to $1.1 Trillion by 2009” - Selig Center for Economic Growth, University of GA
The gross domestic product of U.S. Hispanics will be the ninth-largest economy in the world by 2010. Did you know that 54 percent are renters?
The following are interesting rental statistics:
 | "Latinos make up nearly 13% of the total US population." |
· The purchasing power of Hispanics has increased by 118 % in the last 10 years
· In 2002, 2.9 million banking customers were Hispanics
· Over 2 Million LA Hispanics use credit cards – up from 1.7 Million four years ago.
· 67% - the percentage of Hispanic families consisting of a married couple.
· 44% - the percentage of Hispanic families consisting of a married couple with children under 18.
· 65% - the percentage of Hispanic children that live with both parents.
· 11% - the percentage of Hispanic population underage 5, as of July 1, 2004. Hispanics had a higher concentration of preschoolers among their population than any other race or ethnic group.
· 2.53- the average household size of renter-occupied units
· More than half of Hispanic households have two or more earners
| Screening of Hispanics |
| One of the benefits of doing proper credit checks and criminal background investigations of potential Hispanic tenants is that it documents a landlord’s diligence in applying consistent, nondiscriminatory criteria in their rental decisions. Without such documentation, a landlord faces possible litigation under the Fair Housing Act, which is also known as Title VIII of the Civil Rights Act of 1968. The act prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability). More on the Fair Housing Act. Landlords should screen applicants on the order that they received the applications and base their decisions on criteria that demonstrate a tenant’s ability to pay rent and a tenant’s criminal background is not a threat to the property or the community. When filing out their rental application, many Hispanics may not be able to supply a social security number. This should not dissuade a landlord from following through with the screening process. Many Hispanics use a federal tax ID to build credit information. If a Federal Tax ID is not available, the landlord should ask for the number that the applicant is using to build their credit. It is highly recommended to do a criminal search in addition to the credit check to complete the screening. NOTE L2L MEMBERS: The Landlord2Landlord National Database allows members to perform Social Security searches as well as last name, maiden name and alias searches at no additional cost. This enables landlords to have the flexibility to perform name only searches to catch the rent skipper that changes their Social Security number (even if its one digit) in order to escape detection. This system also allows landlords to enter their Hispanic renter’s (who have no Social Security number) information and conduct searches to track and record renter history. Our Report Cards enable our members to track by name only |
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