Atlanta is the number one city for income inequality in America. In fact, if a person is born into poverty in Atlanta, there is just a 4% chance of escaping poverty in their lifetime. Across all measures of household financial security, households of color are faring worse than White households in Atlanta. Almost 70% of Black families are liquid asset poor compared to 22% of white families. Today, the median household income for blacks is just one-third that of whites. The statistics aren’t much better for Latino families, which maintain a median household income of just about half that of whites. Sixty-six percent of all Latino families in Atlanta are asset poor.
In Atlanta…
The median household income for a White family is $83,722 compared to $28,105 for a Black family.
69% of Black families are liquid asset poor compared to 22% of white families.
The average African American-owned business is valued at $58,085 while the average value of a White business is $658,264.