*Almost 1 / 4 of the best way by means of the twenty first century, Black Individuals proceed to face vital monetary inequality.
In 2021, the median revenue of Black households was virtually $23,000 lower than the median revenue of all households nationally, in accordance with Census Bureau knowledge.
And the revenue hole between Black and White households was even larger, with white households outpacing their Black counterparts by greater than $28,000 in the identical 12 months.
The financial atmosphere for Black Individuals can fluctuate from place to put. SmartAsset got down to decide the areas the place Black Individuals fare greatest economically. We used Census Bureau knowledge to rank 133 locations on six metrics together with family revenue, homeownership and training, amongst others. Our rankings are based mostly solely on financial knowledge and don’t keep in mind the social local weather or different components which will contribute to racial inequality in a spot. For extra particulars about knowledge sources and the way the evaluation put all the data collectively to create the ultimate rankings, learn the Information and Methodology part under.
That is SmartAsset’s second research on the locations the place Black Individuals fare greatest economically. You possibly can learn the 2021 version right here.
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Key findings
– Black Individuals fare greatest in locations with lower than 500,000 residents. The common inhabitants of the highest 10 locations in our research the place Black Individuals fare greatest economically is simply over 260,000. Colorado Springs, dwelling to roughly 484,000 folks, is the biggest out of these 10 locations.
– Murfreesboro ranks on the high with the bottom Black poverty fee. In accordance with our metrics, Murfreesboro, Tennessee, is the place the place Black Individuals fare greatest economically. Positioned about 35 miles southeast of Nashville, Murfreesboro has a poverty fee of 8% amongst Black residents, which is the bottom in our research.
– Two locations in Southern Virginia rank within the high 10. Chesapeake and Virginia Seashore within the Hampton Roads space of Virginia declare third and sixth place, respectively. That is due partially to a comparatively excessive Black median revenue and proportion of Black enterprise house owners for each areas.
Listed here are the highest 10 cities the place Black Individuals are thriving financially:
1. Murfreesboro, TN
The 8% poverty fee amongst Black residents isn’t the one purpose why Murfreesboro ranks on the high of our research. Black households right here have a median revenue of $94,972 per 12 months, which is the second-highest out of the 133 locations we examined. Murfreesboro additionally has the second-highest Black labor power participation fee (78.1%) and the third-highest Black homeownership fee (62.42%) throughout our research.
2. Enterprise CDP, Nevada
Enterprise, an unincorporated group exterior Las Vegas, has the sixth-highest homeownership fee amongst Black residents (56.28%) and the eighth-highest median Black family revenue ($84,023). Whereas Enterprise is dwelling to roughly 245,000 folks, 36.5% of Black residents maintain a bachelor’s diploma (Twelfth-highest). Moreover, over 73% of Black residents age 16 and older are within the labor power (Twelfth-highest).
3. Chesapeake, VA
The realm wherein Chesapeake is positioned has the fourth-highest proportion of Black enterprise house owners (6.83%). Town itself has roughly 251,000 residents and the seventh-highest Black homeownership fee (55.88%), which denotes the proportion of Black housing models which might be owner-occupied. Black households right here additionally earn a median revenue of $81,031, the ninth-highest throughout our research.
4. Pembroke Pines, FL
Positioned southwest of Fort Lauderdale, Pembroke Pines has the Eleventh-lowest poverty fee for Black residents at 12.4%. The median revenue for Black households right here is the third-highest ($90,524) out of the 133 locations in our research. Pembroke Pines additionally has simply over 169,000 folks and the fifth-highest Black homeownership fee (56.91%).
5. Aurora, IL
With greater than 183,000 residents, Aurora has one of many highest percentages of Black residents who personal their houses. Over 57% of Black housing models are owner-occupied, giving Aurora the fourth-highest Black homeownership fee in our research. It additionally has the seventh-lowest proportion of Black residents residing under the poverty stage (11.2%). Moreover, Aurora has the Twenty second-highest labor power participation fee amongst Black residents (69.8%).
6. Virginia Seashore, VA
Virginia Seashore can be positioned within the space that has the fourth-highest proportion of Black enterprise house owners (6.83%) in our research, just like the neighboring Chesapeake. And with virtually 460,000 folks, it additionally has the Twelfth-highest labor power participation fee amongst Black residents (73.4%). The median revenue for Black households in Virginia Seashore is $60,185 per 12 months, which ranks within the high twentieth percentile of our evaluation.
7. Chandler, AZ
No place in our research has a better proportion of Black residents with a bachelor’s diploma than Chandler, the place 45.6% of Black adults have earned undergraduate diplomas. It shouldn’t come as a shock that the median revenue for Black households in Chandler is the sixth-highest throughout our research ($86,648). Moreover, this Phoenix suburb of almost 280,000 folks has the eighth-highest labor power participation fee amongst Black residents (74.8%).
8. Grand Prairie, TX
Positioned between Dallas and Arlington in Texas, Grand Prairie has virtually 200,000 folks and the Fifteenth-highest Black labor power participation fee (72.8%). Over 37% of Black adults right here have a bachelor’s diploma, which ranks ninth-highest out of 133 locations in our research. Grand Prairie additionally has the 18th-highest median revenue for Black households ($62,923) throughout our research.
9. Colorado Springs, CO
Colorado Springs has the eighth-lowest poverty fee for Black residents (11.6%) throughout our research. Actually, over 71% of Black residents age 16 and over are within the labor power, which is greater than 116 different locations that we studied. Moreover, 32.4% of Black adults in Colorado Springs have a bachelor’s diploma, which ranks Twenty second total.
10. Elk Grove, CA
Elk Grove is dwelling to the fifth-highest median revenue for Black households ($89,045) and the sixth-lowest poverty fee for Black residents (11.1%). In the meantime, this suburb of Sacramento additionally has the Eleventh-highest Black homeownership fee (49.53%) throughout our research, cementing it among the many high 10 locations the place Black Individuals fare greatest economically.
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Information and methodology
To seek out the cities the place Black Individuals fare greatest economically, SmartAsset regarded on the 200 largest cities within the U.S. Solely 133 of these cities had full knowledge out there and we in contrast them throughout six metrics:
– Median Black family revenue. Information comes from the Census Bureau’s 2021 1-year American Neighborhood Survey.
– Black homeownership fee. That is the variety of Black owner-occupied housing models divided by the variety of Black occupied housing models. Information comes from the Census Bureau’s 2021 1-year American Neighborhood Survey.
– Black labor power participation fee. That is for the Black inhabitants 16 years and older. Information comes from the Census Bureau’s 2021 1-year American Neighborhood Survey.
– Poverty fee for Black residents. Information comes from the Census Bureau’s 2021 1-year American Neighborhood Survey.
– Proportion of Black adults with a bachelor’s diploma. That is for the Black inhabitants 25 years and older. Information comes from the Census Bureau’s 2021 1-year American Neighborhood Survey.
– Proportion of enterprise house owners who’re Black. That is the variety of Black-owned companies with paid staff divided by the variety of companies with paid staff. Information comes from the Census Bureau’s 2020 Annual Enterprise Survey and is on the metro space stage. Some areas didn’t meet Census publication requirements and weren’t reported.
To find out the ultimate checklist, SmartAsset ranked every metropolis in each metric, giving an equal weighting to all metrics besides the proportion of enterprise house owners who’re Black, which was half-weighted. The evaluation then discovered every metropolis’s common rating. Town with the most effective common rating locations first in our research whereas town with the bottom common rating locations final.
This story initially appeared on SmartAsset and has been independently reviewed to satisfy journalistic requirements.
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