Home appraisal is the process of finding the fair market value for a home. In 2022, the Philadelphia Home Appraisal Task Force showed that homes owned by Black and Brown residents are often appraised at lower values compared to similar homes owned by white residents. When homes in communities of color don't get a fair appraisal, the racial wealth gap in Philadelphia widens.

As a part of Mayor Parker's H.O.M.E. Initiative, the Home Appraisal Bias Program will use the task force's recommendations to address inequities in the home appraisal process. We aim to:

• Improve racial equity in housing appraisals.
• Build generational wealth.
• Ensure equitable access to capital through homeownership.
• Advocate for access to federal housing data so that we can study and effectively address bias.
• Create career opportunities for and build a steady pipeline of diverse, community-based home appraisers.

Every home in Philadelphia should be valued fairly. Through this program, the City is investing in racial equity and economic opportunity for all residents.