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Energy insecurity, defined as the inability to meet household energy needs, affects approximately 37 million households in the U.S. Homeowners generally have more control than renters over the physical structure and energy efficiency of their home. In this way, homeownership can be protective against energy insecurity. For those burdened with inefficient homes in disrepair, however, homeownership can increase the risk of energy insecurity. Using the 2020 Residential Energy Consumption Survey (RECS), we examine race/ethnic differences in the associations between homeownership and energy insecurity. We also test whether these differences change as housing unit income increases. For White housing units, the probabilities of energy insecurity are lower for homeowners across all income groups. For Black housing units, homeownership increases the probability of energy insecurity when income is less than $20,000. Not until income reaches $100,000 or more do Black homeowners experience a predicted probability of energy insecurity that is comparable to White homeowners. Our results indicate that among low-income housing units, there are significant racial disparities in the relationship between homeownership and energy insecurity.