The pandemic run-up in real estate prices is disproportionately benefiting Black homeowners, a new analysis by Zillow finds, helping correct years of systemic discrimination and bias in the real estate industry.

From February 2020 to January 2023, Black homeowners across the country saw their home values increase 42.5 percent, compared to 38.2 percent for U.S. home values overall, Zillow researchers say, and 37.8 percent for white-owned home values. Hispanic- and Asian-owned home values increased by 38.3 percent and 37 percent, respectively.

Home value appreciation among Black homeowners has outpaced all other races since 2014, and that trend accelerated at the start of the pandemic, further shrinking the home value gap. In February 2020, the typical Black-owned home was worth 17.3 percent less than the typical home overall. By January 2023, that gap closed to 14.8 percent, which is the closest Black-owned home values have been to overall values since at least the year 2000.

“These gains are extremely important in terms of increasing wealth among the Black community, as homeowners of color are more likely to have the bulk of their household wealth tied up in their homes,” Zillow senior economist Nicole Bachaud said in a statement. “Due to years of redlining and other forms of systemic discrimination, housing disparities between Black and white families persist. Policies and interventions like expanding access to credit, building more affordable homes and finding new approaches to mitigate appraisal bias are keys to achieving housing equity.”

In Greater Boston, the gap between the value of Black-owned homes and the value of all homes shrank by 0.8 percentage points over the course of the pandemic, although the typical Black-owned home in the area is only worth $506,924, compared to the overall typical home value of $607,115. The Black home ownership rate rose slightly during the pandemic, by 1.4 percent.

Among the 50 largest metros in the country, that home value gap has shrunk the most in Detroit – by 9 percentage points – since February 2020, followed Kansas City (8 percentage points) and Chicago (6.9 percentage points).