U.S. Latino Population: Here are the 10 American Cities Where Latinos Have the Highest Homeownership, Entrepreneurship & Median Income
Forbes released a report of the top cities in the U.S. where Latinos are doing the best economically, according to a recent study on Latinos's homeownership, entrepreneurship and median household income.
The Latino population in America has risen from six percent in 1980 to an estimated 24 percent by the year 2040.
As a result of the economic recession, Latinos faced a 44 percent drop in household income from 2007 to 2010. Latino home equity also dropped 49 percent over those years.
Yet, the Latino workforce continued to expand in 2013 although immigration slowed that year.
Then during the economic recovery, the U.S. born Latino population made a great leap in job gains at 2.3 million from 2009 to 2013. At the same time, unemployment rates for that population dropped by 6.5 percent.
Researchers would think Latinos are doing better economically in areas mostly populated by the demographic such as New York, Miami, Chicago and Los Angeles.
Yet, those areas are not necessarily the best place for them especially since construction has slowed, which has been a traditional source of work for immigrants.
High housing costs in those popular cities have also made it harder for ownership. Instead, the Latino population has migrated to other areas for a better standard of living.
Places like Riverside-San Bernandino are better for Latinos because of the lower cost of living and better rate of job growth. Not surprisingly, Latinos are doing well in numerous Texas cities because of its high rates of job growth as well.
They are also doing very well in Baltimore, where the Latino population in the city has increased by 175 percent since the year 2000.
The cities where Latinos in the U.S. are doing the best economically include the following:
1. Jacksonville, Florida
2. Riverside-San Bernardino, California
3. Baltimore, Maryland
4. Houston, Texas
5. Washington, D.C.
6. Virginia Beach-Norfolk, Virginia
7. Dallas-Fort Worth, Texas
8. San Antonio, Texas
9. Austin, Texas
10. St. Louis, Missouri
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