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Nationwide, when it comes to wealth and personal finance success, Black Americans generally have less. Though the national picture is less than encouraging, economic outcomes for Black Americans are better in some places than others. In this study, we determined the cities where Black Americans fared best economically leading up to For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below. Virginia Beach, Virginia ranks in the top 10 cities for four of the six metrics we considered.
It has the fourth-highest Black labor force participation rate at The city ranks sixth and 10th out of for those two metrics, respectively. Across all cities, it has the second-highest Black homeownership rate — Additionally, incomes for Black households are relatively high. The Black homeownership rate in Miramar, Florida is the highest in our study, at It has the 28th-highest Black homeownership rate The Black homeownership rate in Garland, Texas is the fifth-highest in our study, at This city has the 11th-highest Black labor force participation rate, at Garland falls the most behind when it comes to the poverty rate for Black residents, which was Only about two hours northeast of Charlotte, Durham, North Carolina takes the eighth spot on our list.
Additionally, the Black labor force participation rate is the 30th-highest across all cities in the study, at The poverty rate for Black residents is 35th-lowest overall, at Enterprise, Nevada had the fifth-highest Black labor force participation rate Best cities for african americans The city ranks 67th out of for this metric. Elk Grove also ranks in the top 10 cities for its relatively high Black homeownership rate To find the cities where Black Americans fare best economically, SmartAsset looked at the largest cities in the U.
Only of those cities had complete data available, and we compared them across six metrics:. To determine our final list, we ranked each city in every metric, giving a full weighting to all metrics.
The city with the highest average ranking received a score of The city with the lowest average ranking received a score of 0. Protests for racial justice and the outsized impact of COVID on people of color have highlighted the social and economic injustice that many Americans continue to face. We are aiming to raise awareness surrounding economic inequities and provide personal finance resources and information to all individuals. Questions about our study?
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Where Black Americans Fare Best Economically – Study