Racial bias in home appraising can harm individuals by making home purchases more expensive or refinancing unattainable, but when compounded on the community level, it can have profound impacts on minority communities’ ability to build wealth. Using newly available federal data, this report finds evidence of systemic appraisal bias that undervalues homes in predominantly Black communities in Baltimore City and the surrounding counties.

JPMorgan Chase is investing $8.45 million in nonprofit organizations and initiatives in Baltimore to help residents boost access to affordable homeownership and increase wealth among communities of color, the bank’s head of corpor