Hispanics are the only demographic group that increased their homeownership rate during the 2015–2020 period, according to the National Association of Hispanic Real Estate Professionals. That rate is forecast to exceed 50% by 2040.
Radio is a welcoming space for these homebuyers, based on the analysis of data from five representative 2021 consumer/market surveys from The Media Audit. Hispanics who plan to buy a home during the next two years over-indexed in all five markets, ranging from 103% more likely than the market average in Detroit to 13% more likely in Salt Lake City.
These future Hispanic homeowners also over-index for “heavy exposure to radio” (180 or more minutes during an average day). By comparison, Caucasians planning to buy a home during the next two years under-index for heavy exposure to radio in four of the five representative markets.
“Utilizing the strong correlation between Hispanics’ home buying plans and their daily radio listening as the basis of a robust ad campaign isn’t just an opportunity for realtors,” said Annette Malave, Senior VP of Insights at the Radio Advertising Bureau. “It’s also an excellent engagement point for the many retailers, including furniture, flooring, appliances and homewares, who want to appeal to Hispanics’ love of home life.”
All of these potential radio advertisers also want to target their ad dollars precisely for maximum reach and efficiency. Another comparison of data from The Media Audit’s five representative 2021 surveys reveals in which dayparts Hispanics over-index who are planning to buy a home during the next two years.
Interestingly, they over-index during midday (10am-3pm) in all five markets, but not in any of the other dayparts, although their morning drive listening over-indexed in three of the markets. Three markets also show significant over-indexing during the midnight to 5am daypart, possibly indicating an opportunity to reach Hispanics working the third shift.
Realtors and home life retailers who target Hispanics on radio should keep in mind many of their households are multi-generational. They may need to visit property listings with layouts to accommodate older family members, which also puts them in the market for additional furniture and homewares.