The Cities Where African-Americans Are Doing The Best Economically

If you are looking for a new city to relocate your family to or just start over by yourself, this list of the best cities and towns for African American people to live will help you determine which cities are best overall for African Americans? Before packing up all of your worldly belongings into a U-Haul and heading out on the road, you should find out which cities are best for the needs of African American people. The cities on this list are highly populated by other African American people, so there are strong communities filled with the types of amenities that any family could need.

Atlanta, Raleigh, North Carolina and Washington, D.C. are the top-three cities where African-Americans are doing the best economically, according to a recent report by Forbes. The magazine took a look at three major data factors in compiling its list of 10 cities and how they were ranked.

Forbes decided to look in to which of America’s 52 largest metropolitan areas present African Americans with the best opportunities. They weighed these metropolitan statistical areas by three critical factors — homeownership, entrepreneurship, as measured by the self-employment rate, and median household income — factors believed to be the indicators of middle-class success.

Data for those is from 2013. In addition, a fourth category was added, demographic trends, measuring the change in the African-American population from 2000 to 2013 in these metro areas, to judge how the community is “voting with its feet.” Each factor was given equal weight.

One of the most noticeable trends of the report is that the South is comprised of cities and metropolitan areas that offer the best opportunities for Black residents. In the Forbes survey, 13 of the 15 metro areas captured were in the South.

Forbes Magazine’s list of cities where Black Families are doing the best economically:

1. Atlanta, Ga.

Median household income: $41,803

Home ownership rate: 46.9%

Share who are self-employed: 17.1%

Change in population, 2000-13: 49.9%

Top reason to move here: “Peaches and festivals.”

2. Raleigh, N.C.

Median household income: $42,285

Home ownership rate: 46.7%

Share who are self-employed: 12.8%

Change in population, 2000-13: 55.9%

3. Washington D.C.-Va.-Md.-WV.

Median household income: $64,896

Home ownership rate: 49.2%

Share who are self-employed: 15.1%

Change in population, 2000-13: 19.7%

4. Baltimore, Md. (tie)

Median household income: $47,898

Home ownership rate: 46.2%

Share who are self-employed: 15%

Change in population, 2000-13: 15.6%

5. Charlotte, N.C. (tie)

Median household income: $36,522

Home ownership rate: 43.9%

Share who are self-employed: 13.6%

Change in population, 2000-13: 14.8%

6. Virginia Beach-Norfolk, Va.

Median household income: $40,677

Home ownership rate: 43.8%

Share who are self-employed: 13.2%

Change in population, 2000-13: 34.6%

7. Orlando, Fla.

Median household income: $33,982

Home ownership rate: 43.8%

Share who are self-employed: 11%

Change in population, 2000-13: 58.9%

8. Miami, Fla. (tie)

Median household income: $36,749

Home ownership rate: 44.9%

Share who are self-employed: 11.2%

Change in population, 2000-13: 32.4%

9. Richmond, Va. (tie)

Median household income: $38,899

Home ownership rate: 47.8%

Share who are self-employed: 12.7% 

Change in population, 2000-13: 17.9%

10. San Antonio, Texas (tie)

Median household income: $41,681

Home ownership rate: 40.8%

Share who are self-employed: 9.3%

Change in population, 2000-13: 43.3%

source: www.forbes.com