The 11 Best Cities For Latinas To Financially Thrive In, According to MoneyGeek
Photo via Joe Parks/Flickr, Creative Commons
The Latina wealth gap is very real and it affects millions of Latinas across the US every day. According to LeanIn.org, Latinas earn $0.55 to the white man’s dollar. They make 30% less than the average white American female. There is a myriad of reasons for this wealth gap, but they all lead back to societal and structural factors. That is why Latina Equal Pay Day has become such a talking point in recent years—because something needs to change.
Culturally, many Latinas are hyper-segregated in low-paying jobs in career fields like hospitality and food service. Latinas are also more heavily burdened with domestic duties like childcare, cleaning, and cooking—a phenomenon that sociologist Arlie Hochschild dubbed the “second shift“. Latinas are also more likely to be the first in their families to attend college—a statistic that also means they are less likely to have access to generational wealth.
Because of racial and gender barriers, Latinas have historically had a hard time building wealth. But there are some places in the U.S. that are more financially accommodating to Latinas than others. In light of this, personal finance tech site MoneyGeek compiled a list of the cities that are financially the best for Latinas to live in.
Using data from the U.S. Census Department’s American Community Survey, MoneyGeek ranked these cities by considering factors like education, poverty rates, income and homeownership. They also factored in social welfare, crime, and Latino business ownership. Here are MoneyGeek’s Top 11 Cities where Latinas are most likely to achieve financial success.
Latinos are the second-largest ethnic population in Gilbert, making up 17% of the population. Not only that, but 26.4% of the city’s university graduates are Latina, making it a highly educated subgroup. In this desert city, 93% of Latinas live above the poverty line.
Washington D.C. is a great city to live in for Latinas. Not only does much of the Latina population have health insurance, but the city also has a great public transportation system. In this East Coast city, 86% of Latinas live above the poverty line.
Torrance, California has the highest adjusted income for Latinas in the entire country. At $56,413, Latinas make almost $30,000 more annually than the worst city for Latinas to live in (Salinas, California).
Seattle scores a 97 out of 100 in MoneyGeek’s rating system. There are 49,979 Latinos living in Seattle, and the average adjusted income for Latinas is $52,345.
Again, Arizona comes in for the win. A total of 21% of the population is Latino. Arizona State University’s main campus is in Tempe, and the university is the biggest employer of the city’s population. The entire area is steeped in Latino culture and history.
Home to the University of California, Berkeley, the city of Berkeley is widely known as one of—if not the most—socially progressive cities in the US. At 14,869, the Latino population is small, but the median income for Latinas is high, $50,738. Crime, it should be noted, is also very low here.
Rancho Cucamonga, CA
Formerly Mexico land, almost 38% of Rancho Cucamonga’s population is Hispanic or Latino. And 91% of Latinas live above the poverty line and crime is very low.
Burbank boasts one of the highest rates of Latinas living above the poverty line at 95%. A suburb of Los Angeles, there is also ample access to events, a diverse array of restaurants, and thriving nightlife.
Henderson has a very large Latino population, at 51,601. Henderson also has zero state income tax, year-round sunshine, and is minutes away from the Las Vegas strip.
At $44,500, Arlington’s median adjusted income rate for Latinas is one of the highest on this list. Arlington also has the lowest rate of this list’s entries, with the crime rate clocking in at 61% lower than the national average. They also have a stellar unemployment rate of 2.8%.
Albuquerque claims the highest Latino population on this list, with a whopping 276,358 Latinos living in the Burque. Albuquerque also has the highest rate of Latina homeownership on this list, as housing prices are affordable.
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