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Monday, October 5, 2015

Top 10 U.S. Cities for African American Economic Success

African American economic success

The recession was hard on everyone, but particularly harsh on African Americans. While the median income among whites fell 11 percent during the recession years, the decline was worse among blacks -- 31 percent. But the good news is that, although success varies across the country for blacks, these 10 cities are reported by Forbes to offer the best opportunities for economic success.
  1. Atlanta, Georgia - a population growth of 49.9 percent from 2000-2013 and over 46 percent home ownership rate makes Atlanta the number one city for economic success.
  2. Raleigh, North Carolina - Raleigh's population grew 55.9 percent in 13 years and also has a high home ownership rate of 46.7 percent.
  3. Washington, D.C. - has two factors in its favor: a high median income of $64,896, and almost half are home owners -- 49.2 percent.
  4. Baltimore, Maryland - this city has had its share of problems, but it still boasts a healthy median income of $47,898 and home ownership rate of 46.2 percent.
  5. Charlotte, North Carolina - Charlotte's population has grown almost 15 percent over the last 13 years and has a strong home ownership rate of almost 44 percent.
  6. Virginia Beach/Norfolk, Virginia - a large population growth of 34.6 percent, healthy median income of $40,677, and 43.8 percent home ownership make this city number 6 on the list.
  7. Orlando, Florida - Orlando's population grew a whopping 58.9 percent in the last 13 years, offering much opportunity for economic success.
  8. Miami, Florida - this popular Florida spot has much to offer, including population growth and strong home ownership rates.
  9. Richmond, Virginia - has one of the highest home ownership rates at 47.8 percent, and 12.7 percent are self-employed.
  10. San Antonio, Texas - a median household income of $41,681 and strong population growth of 43.3 percent made San Antonio among the top 10.

These cities represent increasing median household incomes, large percentages of people owning their own homes, and growing populations -- all of which are positive factors for African Americans as well as other business entrepreneurs to experience economic success.

Read more by visiting www.forbes.com/sites/joelkotkin/2015/01/15/the-cities-where-african-americans-are-doing-the-best-economically/
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