Nearly two-thirds of the net growth in American homeownership in the last decade has come from Latino homebuyers, according to the National Association of Hispanic Real Estate Professionals’ 2018 State of Hispanic Homeownership Report.

In the last decade, the number of Latino homeowners in America grew by 1.57 million to 7.87 million homeowners in 2018, according to the report, released Tuesday. The Latino homeownership rate has risen from 45.6 percent to 47.1 percent since 2015, while Latino families accounted for 39.6 percent of U.S. household formations in 2018. In 2017, the most recent data available, the median income for Latino families in America was $50,486. While Latinos represented the largest proportion of immigrants over the same period, population growth was driven by higher birth rates and lower death rates in the community, the report found.

While more Latinos live in the West and South than other parts of the country, they represent an increasing share of the population across the country. In Massachusetts, Latinos now make up 11.2 percent of the state population. Massachusetts also has far fewer Latino homeowners than the country as a whole. Only 25.39 percent of Massachusetts Latinos own homes, while the median income for Latino families in 2017 was $39,299 – just over half the statewide median income of $74,167.

The 2018 Fannie Mae National Housing Survey found that most Latinos want to own a home. However, the NAHREP report found that prospective Latino homebuyers face slightly greater obstacles to getting a mortgage than the general population. For example, a too-high debt-to-income ratio and insufficient credit history accounted for 40 percent of mortgage loan denials for Latinos in 2017.

Nearly half of all mortgages issued to Latinos were originated in 10 metro areas, with the top three accounting for over 25 percent of all Latino homebuyer loans: Los Angeles, Miami/Ft. Lauderdale, and San Bernardino, California.

The report also analyzed marketing and engagement strategies aimed at Latino consumers, finding Latino consumers place a premium on feeling that marketing recognizes their cultural backgrounds. However, the report also found substantially divergent attitudes towards the language content is in depending on whether the consumer was dominantly Spanish-speaking, English-speaking or bilingual.