Places Where Black Americans Thrive the Most (and Least)

The financial challenges that Black Americans face are evident. An ever-moving target, the net worth of Black families in America is typically a fraction of that of white families — with recent data showing that a white family’s median net worth is nearly eight times that of a Black family.

However, there are pockets of the country where the financial gap is narrower (or wider) due to median incomes, homeownership rates and other factors. LendingTree researchers analyzed five financial metrics across the 100 largest U.S. metros, finding that Black households see the most economic prosperity in Washington, D.C., and the least in Toledo, Ohio.

In addition to reviewing the metros with the highest and lowest rankings, we’ll highlight each metric’s top and bottom scorers.

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Key findings

• Black Americans thrive the most in the District of Columbia. D.C. ranks in the top three in three of our five metrics. Black householders in the D.C. metro have a median household income of $82,045, with 40.5% earning $100,000 or more. Meanwhile, 37.2% of Black adults 25 and older in D.C. have a bachelor’s degree or higher. Black residents in Austin, Texas, finish second while Provo, Utah, and Poughkeepsie, N.Y., tie for third.
• Two California metros lead three of our top-five lists by metric despite not being in the top five overall. San Jose and Oxnard finish No. 1 and 2 in our income- and education-based metrics. But San Jose’s bottom-10 homeownership rate and Oxnard’s middle-of-the-pack unemployment rate among Black residents push the metros to No. 12 and No. 6 overall, respectively.
• Black Americans thrive the least in Toledo, Ohio. Toledo ranks in the bottom four in four of our five metrics. Black householders in the Toledo metro have a median household income of $31,106 — the lowest among the 100 metros we analyzed. It also has the third-lowest percentage of Black households earning $100,000 or more (8.6%) and percentage of Black adults 25 and older with a bachelor’s degree or higher (14.8%) and the fourth-worst unemployment rate among Black Americans (13.6%). Black residents in Syracuse, N.Y., and Scranton, Pa., join the bottom three overall.
• Ohio, Pennsylvania and Wisconsin metros appear in four of our bottom-five lists. Scranton joins Toledo with bottom-five appearances in four of our metrics, while Milwaukee appears in three of five. Madison, Wis., occupies the bottom spot in another.

Black Americans thrive the most in the District of Columbia, Austin, Texas, Provo, Utah, and Poughkeepsie, N.Y.

To arrive at our rankings, we looked at metrics on income, education, homeownership and employment. We weighed the metrics equally and assigned each metro a total score to assess how Black residents are faring there:

Black Americans encounter multiple financial disparities, including less generational wealth, workplace inequality, education gaps and limited access to credit.

“Add it all up, along with myriad other factors, and it becomes clear that Black Americans face a far windier, rockier and more uncertain path toward prosperity than many other Americans,” LendingTree chief credit analyst Matt Schulz says.

Still, despite these challenges, some of the country’s metros stand out as having better economic environments for their Black residents. These metros have higher median incomes, lower unemployment and better homeownership rates than others.

1. District of Columbia

Washington, D.C., tops our research as the No. 1 metro where Black residents thrive financially. The metro has the third-highest score in three of our five individual metrics — education, median income and incomes of $100,000 or above.

The median household income among Black householders in the D.C. metro is $82,045 — 18.9% higher than the national median household income of $69,021. (An above-average median income typically signifies a greater share of high-income earners and residents with higher education levels.) The data also shows that 40.5% of the metro’s Black householders earn $100,000 or more, and that 37.2% of Black adults 25 and older hold a bachelor’s degree or higher. The metro also has a top-10 ranking in homeownership — more than half (51.3%) of D.C.’s Black residents are homeowners.

These two factors may contribute to the economic progress of Black residents there. However, while the income and education rates among D.C.’s Black residents are higher than national rates, they lag the metro’s rates for all residents:

At a glance: U.S. vs. D.C.

Source: LendingTree analysis of U.S. Census Bureau and Census Reporter data.

To counter such gaps, D.C. has created programs to support Black residents and businesses, like the Black Homeownership Fund and the Commercial Property Acquisition Fund.

2. Austin, Texas

Ranking second in our study is Austin, Texas. The metro has top-10 scores in our unemployment and education metrics — the metro’s 6.0% unemployment rate among Black residents is the seventh-lowest in our study, and 33.1% of Black adults 25 and older have a bachelor’s degree or higher (good for eighth-highest).

Austin ranks 12th for income. The median household income among Black householders is $61,272 — 11.2% below the country’s overall median income of $69,021. Only 26.8% of the metro’s Black households earn $100,000 or more a year and less than half of the metro’s Black residents (44.2%) own a home — though that still ranks 15th and 31st, respectively, among the 100 examined.

“There’s something to be said for living in a town with a booming economy,” he says. “That growth brings so much opportunity that it can spread through all segments of the population, though it doesn’t necessarily do it evenly or uniformly.”

3. Provo, Utah (tie)

Rounding out a tie among the top three is Provo, Utah. The metro has top-10 scores in two metrics. It has the lowest unemployment rate among Black residents — 3.6% — and the sixth-highest score for education, with 34.1% of Black adults holding a bachelor’s degree or higher.

The median household income among Black residents in Provo is $59,471 — the 15th-highest in our study, but still below the country’s overall median income of $69,021. Similarly, the metro has the 13th-highest percentage of high-income earners — 27.7% of Black households make $100,000 or more yearly. However, Provo does have a mediocre ranking for homeownership (53rd), with 39.5% of the area’s Black residents owning a home.

The Black population in Provo is only 1%, so while the metro comes out on top in many metrics, a small percentage of the Black population is experiencing the area’s prosperity.

3. Poughkeepsie, N.Y. (tie)

Poughkeepsie, N.Y., ties with Provo in the third spot. This metro finishes in the top five of our income categories. The median household income among Black residents in Poughkeepsie is $66,894 — below the country’s overall median income of $69,021 but the closest to it among metros where it’s lower. Meanwhile, 33.6% of Black households make $100,000 or more yearly.

How the top 5 shakes out among our metrics

Other metros outside the top finishers stand out in individual metrics. Each region of the country is represented in the top five across the metrics. Notably, the South dominates one metric in particular — homeownership. And two California metros — San Jose and Oxnard — have top scores in three of the five metrics.

Highest median household income among Black residents

San Jose and Oxnard came out on top in this category — placing first and second, respectively. Black households in San Jose have a median income of $85,979 — 24.6% higher than the country’s overall median income of $69,021. Similarly, Oxnard’s median income of $83,873 is 21.5% higher than the country’s median income.

Top 5: Median household income

Source: LendingTree analysis of U.S. Census Bureau data.

Highest percentage of Black households that make $100,000 or more a year

Once again, San Jose and Oxnard, along with Washington, D.C., take the top three spots for this metric. It’s unsurprising that metros with a high median income would also have a higher percentage of Black households earning $100,000 or more yearly. However, San Francisco, which didn’t make the top five for median income, does have the fourth-highest percentage of Black households earning $100,000 or more (33.7%).

Top 5: Higher earners

Source: LendingTree analysis of U.S. Census Bureau data.

Highest percentage of Black residents with a bachelor’s degree or higher

San Jose, Oxnard and Washington, D.C., also take the top three spots for education, echoing their top-three scores in median income and high earners. However, two metros make their only top-five appearances here — Worcester, Mass., and Albuquerque, N.M. The two metros tie for fourth place, with 34.4% of Black adults holding a bachelor’s degree or higher.

Top 5: Education

Source: LendingTree analysis of U.S. Census Bureau data.

Highest homeownership rate among Black residents

Palm Bay, Fla., has the highest homeownership rate among Black residents — more than 6 in 10 (62.4%) are homeowners. The metro also scored well in unemployment (to be highlighted below).

Coming in at No. 2 for this metric — at almost 8 percentage points behind Palm Bay — is Charleston, S.C. Notably, all top-five metros for homeownership rates are in the South. The region also holds eight of the top 10 spots, with Columbia, S.C., Birmingham, Ala., and Washington D.C., ranking sixth through eighth, respectively.

Top 5: Homeownership

Source: LendingTree analysis of U.S. Census Bureau data.

Lowest unemployment rate among Black residents

Two Utah metros take the top spots for low unemployment rates among Black residents. Provo, which ranks third overall, has the lowest unemployment rate (3.6%). Closely behind Provo is Ogden, with a 3.9% unemployment rate among Black residents.

Like Utah, Florida has two metros with top-five unemployment rates. The Deltona metro has the third-lowest rate (5.1%), while Palm Bay has the fifth-lowest (5.4%). Madison, Wis., is the only Midwestern metro with a top-five spot in our metrics. The metro has the fourth-lowest unemployment rate (5.3%).

Top 5: Unemployment

Source: LendingTree analysis of U.S. Census Bureau data.

Black Americans thrive the least in Toledo, Ohio, Syracuse, N.Y., and Scranton, Pa.

Three of the 100 metros we tracked stand out as having the least favorable economic conditions for Black Americans — Toledo, Ohio, Syracuse, N.Y., and Scranton, Pa. These metros occupy the lowest rankings in multiple metrics.

1. Toledo, Ohio

Placing last place in our study is Toledo, Ohio. The metro has bottom or near-bottom scores in four of our five metrics.

Toledo ranks last for income, with Black householders earning a median household income of $31,106. The metro has the third-worst rankings for education (14.8%) and percentage of Black households earning $100,000 or more (8.6%). Plus, the metro’s double-digit unemployment rate (13.6%) among Black residents is the fourth-worst in our ranking.

The financial status of Toledo’s Black community reflects the metro’s overall economic environment. The city of Toledo has a high poverty rate — 24.5%, more than double the national rate of 11.6% — and its overall median household income ($41,671) is 39.6% lower than the country’s ($69,021). Ohio has two other metros in the bottom 10, Cleveland and neighboring Akron.

2. Syracuse, N.Y.

Black residents fare only slightly better in Syracuse than in Toledo. The metro places 93rd or below in all five of our metrics. Syracuse has the second-lowest education rank, with only 14.0% of the metro’s Black residents holding a bachelor’s degree or higher. It also has the fourth-worst score for income, with Black residents earning a median income of $34,120. Further, Syracuse has the seventh-worst score for homeownership and Black residents earning $100,000 or more.

Like Toledo, Syracuse’s poverty rate is well above the national rate — 30.1%, compared with 11.6%. The median household income for all residents in the city of Syracuse ($40,490) is 41.3% below the national median income.

3. Scranton, Pa.

Scranton, Pa., rounds out the bottom three, with the metro scoring 98th or worse in four of our five metrics. Scranton comes in last for education, with only 9.8% of the metro’s Black residents holding a bachelor’s degree or higher. The metro has the second-worst ranking for both median income and homeownership: The median income for Scranton’s Black residents is $33,342, and only 18.3% own a home. The metro also has the third-worst ranking for incomes of $100,000 or more, with only 8.6% reaching or exceeding that threshold.

The Black population in the area is small, ranging between 1.2% and 8.0% in the metro’s three counties. Still, the small population is faring significantly worse than the metro’s residents overall. The overall median income of $61,174 among all Scranton residents is 83.5% more than that of Black households.

Pennsylvania has another bottom-ranking metro, Pittsburgh, with the 10th-lowest score.

How the bottom 5 shakes out among our metrics

Like the top metros, the bottom five of our individual metrics are wide-ranging. Several of the overall low scorers — Toledo, Scranton and Milwaukee — are represented multiple times. However, many middle-of-the-pack metros rank low among our five metrics.

Lowest median household income among Black residents

The bottom five scorers in median household income are also the five lowest-ranked metros overall, although not in the same order. Toledo, Ohio, the bottom metro overall, has the lowest median income among Black residents — ​​$31,106.

Bottom 5: Median household income

Source: LendingTree analysis of U.S. Census Bureau data.

Lowest percentage of Black households that make $100,000 or more a year

The bottom three metros here all have the same low percentage of Black households earning $100,000 or more — 8.6%. Scranton is the only Northeastern metro in the bottom five of this metric, with the Midwest and West occupying the other spots. Ohio appears twice, with Toledo and Cleveland ranking low.

Bottom 5: Higher earners 

Source: LendingTree analysis of U.S. Census Bureau data.

Lowest percentage of Black residents with a bachelor’s degree or higher

For education, the overall low scorers were well-represented. Bakersfield, Calif., also earns a low ranking, with only 15.4% of Black residents holding a bachelor’s degree or higher. The California metro has a bottom-five score in two metrics, also ranking poorly for unemployment.

Bottom 5: Education

Source: LendingTree analysis of U.S. Census Bureau data.

Lowest homeownership rate among Black residents

Scranton is the only metro with a bottom-five overall ranking to also have a bottom-five score for homeownership, as only 18.3% of the metro’s Black residents are homeowners. Still, the remaining metros have mediocre total scores: Madison, Wis. (71st), Salt Lake City (56th), Honolulu (34th) and Albany, N.Y. (82nd). Notably, the South is the country’s only region not represented in the bottom five for homeownership.

Bottom 5: Homeownership

Source: LendingTree analysis of U.S. Census Bureau data.

Highest unemployment rate among Black residents

Two Ohio metros have some of the worst unemployment rates among Black residents. Lowest-ranked Toledo has a 13.6% unemployment rate, while Cleveland makes another appearance in the bottom five with a 13.3% rate.

However, Bakersfield has the worst unemployment rate among Black residents — 15.9%. Meanwhile, Fresno, another California metro, has the second-worst (14.6%), and Chicago places third to complete the bottom five.

Bottom 5: Unemployment

Source: LendingTree analysis of U.S. Census Bureau data.

Full rankings

3 financial barriers for Black Americans — and tips to overcome

Our study highlights some areas in the country where Black Americans are doing well financially. But it’s crucial to note that — even in those places — the Black population encounters the same financial barriers Black residents in less prosperous areas face.

The causes of those challenges are deeply rooted in the country’s history, policies and practices. However, acknowledging and addressing them is crucial to reducing the economic gaps the Black population experiences.

• Low homeownership rates. Homeownership is one pathway to wealth, and an increased net worth that many Americans benefit from. Yet, studies show that Black homeownership rates fail to reflect their percentage of the population. Naturally, this is the impact of lower incomes, reduced access to credit and other factors. For Black Americans looking to become homeowners, exploring various financing options, including city and state homeownership initiatives and low-income loans, can broaden prospects for homeownership.
• Less generational wealth. “There are so many financial headwinds facing Black Americans,” Schulz says. And many of those challenges compound one another. Lower homeownership rates mean less assets and wealth to pass on to future generations. “Black Americans start at an immediate disadvantage because they’re less likely than white Americans to benefit from generational wealth,” he says. Leveraging homeownership opportunities, reducing debt and increasing savings are steps toward increasing net worth and overall wealth.
• Education gaps. “Black Americans are less likely to be accepted into the nation’s elite universities,” Schulz says. Limited access to education is tied to lower wages and overall financial progress. Like homeownership, many state and federal organizations have created initiatives to close the education gap. “We need to strengthen and grow these efforts, not reduce them,” Schulz says. “We also need to do a better job of making sure that people know that help is available and what they can do to take advantage of it.”

Methodology

LendingTree researchers analyzed U.S. Census Bureau 2021 American Community Survey data with five-year estimates — the latest available — to determine where Black Americans are thriving the most and least.

Our study ranks the 100 largest metropolitan statistical areas (MSAs) across five metrics:

• Median household income among Black or African American householders in the past 12 months (in 2021 inflation-adjusted dollars)
• Percentage of Black or African American householders who made $100,000 or more in the past 12 months (in 2021 inflation-adjusted dollars)
• Percentage of Black residents 25 and older with a bachelor’s degree or higher
• Homeownership rate among Black residents
• Unemployment rate among Black residents 16 and older

All five metrics were weighted equally to determine the overall rankings.