Are you relocating to Florida? Are finances something you think about when making your decision? If the answer is yes, you have come to the right article. “Florida Cities Where African Americans Are Thriving The Most Financially.” I live in St. Petersburg and I would say when it comes to my finances I am living comfortably. What is your perception of thriving? Is it living comfortably or do you have to make a lot of money? Curious to know your thoughts. Feel free to email me Babs@wild941.com
According to Lendingtree.com, the net worth of African American families is typically a fraction of that of white families. Their data shows that a white family’s median net worth is nearly 8 times that of a black family. With that being said, in some parts of the country the financial gap is smaller or bigger due to median incomes and other factors.
The researchers over at Lending Tree analyzed 5 financial metrics across the 100 largest metros. Those metrics include:
1. Median household income among Black or African American householders 2. Unemployment rate among Black residents 16 and older 3. Percentage of Black or African American householders who made $100,000 or more in the past 12 months 4. Homeownership rate among Black residents 5. Percentage of Black residents 25 and older with a bachelor’s degree or higher.
Florida Cities Where African Americans Are Thriving The Most Financially
Before I tell you about the Florida cities, I want to tell you about the city where African Americans are thriving the most Financially in the United States . Washington DC is the #1 U.S. city where African Americans are thriving the most financially. The medium household income for Black residents is $82,045 which is higher than the national median household income of $69,021. Over 37% of Black adults over 25 have a bachelors degree or higher.
Below you will find the Florida cities where African Americans are thriving financially. Let me know if you agree or disagree with this list. My email is above.
Tampa Bay
The medium household income for African Americans in Tampa Bay is $46, 709. Also 42.9% of African Americans own their homes in this great city. The unemployment rate is 6.8%. I live in the Tampa bay area and I should have listened to my dad and purchased a home before the pandemic!
Palm Bay
I was shocked to see Palm Bay on this list. The medium household income for African Americans in Palm Bay is $45,444. With that being said, 62..4% of African Americans in Palm Bay own their homes. The unemployment rate is 5.4%
(Photo by Joe Raedle/Getty Images)
Orlando
Out of all the Florida cities, Orlando has the highest medium household income for African Americans and it is $50, 560. The Unemployment rate is 8.3%. There are so many jobs in Orlando. I consider it to be the hospitality capital of Florida because of all the theme parks and resorts.
(Photo by Gene Duncan/Disney Parks via Getty Images)
Deltona
The medium household income for Deltona is $44,68. 45.8% Of African Americans own their homes in this city. They have an unemployment rate of 5.1%. I have never been to Deltona but they are known for their attractions like 101 Paws and Claws and Lyonia preserve.
Miami
I just knew Miami was going to make this list. Miami is known for it’s beautiful beaches and people. When it comes to money, $48,731 is the medium household income for African Americans. Almost half of the African American population in Miami own their homes, 47.3% of them to be exact.
