Philly5000

The homeownership gap between Black and white Philadelphians persists, according to recent research by both the Federal Reserve Bank of Philadelphia and Zillow. 

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Their findings suggest this gap is the result of systemic roadblocks that go beyond income. For example, lenders tend to deny more Black applicants seeking mortgage loans, and Black families tend to have less access to generational wealth—mainly due to the persistent racial homeownership gap. 

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To confront this confounding issue, a coalition of organizations including the Urban League of Philadelphia, HACE, New Kensington CDC, Congreso de Latinos Unidos and the Urban Affairs Coalition came together to form Philly5000, with support from Wells Fargo.

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Working with new Philly homeowners and housing counselors, Mighty Engine develop branding, a website and social-media content for Philly5000 that welcomed and encouraged lower-income Black and Brown families to homeownership, providing them with the information they need to assess their readiness for homeownership and to connect them to special programs, deals and a neighborhood housing counselor.  

As a result of our work, Philly5000 was able to meet their recruitment goals.

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