ExploreArts and tradition seize the highlight for our 2024 Black Historical past Month protection
From median incomes to homeownership charges, 5 U.S. cities finally earned excessive rankings for narrowing the monetary hole for Black People. The District of Columbia is the place they thrive essentially the most, whereas Austin, Texas, took house the second highest rating. Provo, Utah, and Poughkeepsie, N.Y., have been the third and fourth greatest cities, respectively. Atlanta made the rankings in fifth place.
“Add all of it up, together with myriad different elements, and it turns into clear that Black People face a far windier, rockier and extra unsure path towards prosperity than many different People,” LendingTree chief credit score analyst Matt Schulz mentioned within the report.
In Atlanta, Black residents have a median family earnings of $58,684. Roughly 24.9% of Black households make $100,000 or extra within the metropolis, and 49.8% are owners.
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“Our research highlights some areas within the nation the place Black People are doing nicely financially,” Lending Tree reported. “But it surely’s essential to notice that — even in these locations — the Black inhabitants encounters the identical monetary limitations Black residents in much less affluent areas face.
“The causes of these challenges are deeply rooted within the nation’s historical past, insurance policies and practices. Nevertheless, acknowledging and addressing them is essential to decreasing the financial gaps the Black inhabitants experiences.”