10 Best States for Black Household Wealth

These places are full of the best household incomes for Blacks

Image: Shutterstock

As we all know, African Americans are the predominate force consuming products in the country. The household income growth for us as a community has continually outpaced that of white Americans. Yet, those gains have not translated into narrowing the wide wealth gap between the races.

For instance, in 2011, the U.S. Census Bureau had noted that the median net worth for black households was lower ($6,446) than it was in 1984 ($7,150). The 2013 study has found that high-earning married black households still have less wealth but have found gorgeous places to live in these beautiful United States. With more African Americans doing well through entrepreneurial efforts, hard work, or just sheer determination, an explanation is needed why these income gains haven’t turned into wealth gains for black Americans.

That being said, we decided to take a look at the best places in the country for African Americans with top household incomes. Using data from the 2013 U.S. Census Bureau study, we spotlight states and look past average asset ownership and debt levels.

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  • Saph5ire

    But what are the cost of living in comparison to the income?

  • Michael Hambrick

    an explanation is needed why these income gains haven’t turned into wealth gains for black Americans

    The explanation is more less on why they…successful black americans…haven’t turned income gains into wealth gains for themselves.

    I make $30,617 in Virginia. I earned an associates degree in accounting and fell short of financial assistance to finish my bachelors. Consequently, I can’t move on to my masters in accounting and then law. However, that hasn’t stopped my creativity.
    I was once a rapper and I chased that dream. I still find myself reciting old rhymes in the mirror. I transformed that ambition into dedication to my schoolwork, getting familiar with finance, trading, and politics. I don’t think this is the mentality of the average black american though.
    To transform income gains into wealth gains, we have to control spending. Controlling spending has to be a culture. One person cannot control their spending and no one else does. No then one person will just be frugal. It has to be a culture of not eating out, not buying every brand new pair of shoes (not including jordans). If you take that extra $3,000 – $5,000 that you spend in McDonald’s and other restaurants and you purchase commercial properties that other businesses can lease, you create a cycle. You shop on your property, rent gets paid…you get paid.
    There’s a person in the NFL making $500,000 and still living pay check to pay check. If he knew someone with good business skills he could be saving his NFL checks and living off of business ventures lavishly.
    Don’t think I know it all. I know what I know. I look stuff up, and try to expand and utilize that knowledge. For instance, I looked up how to open a bank. I know that businesses can become holding companies if they make enough money. I also know that more companies can act as banks. I know Black Enterprise is a subsidiary and could operate on its own and establish its own network. But this is just what I know. If more black people were in the know and not in the money, they’d change the world significantly.

  • Veren1933



    “As we all know, African Americans are the predominate force consuming products in the country.”

  • Joe Snuffy

    Highest costs of living in the country translate into higher median incomes. I can live comfortably on $30,000 a year in Kentucky, but in Hawaii that wouldn’t pay the rent. Last time I checked, a gallon of milk there was $7.50!

    • nsu1997

      Great point. We tend to correlate income with wealth…they are not the same thing.

  • nsu1997

    This is a top 10 “income” list not a “wealth” list. Definitely not the same thing. Income is only one measure of wealth, and not a good one at that. Wealthy people often try to MINIMIZE their income for income tax purposes.

  • Making money is essential, but what is more important is what a person does with their money. If people spend more than they make that’s a fail. If they save more and invest, then that’s noteworthy. Now I want to know which states have the most blacks with money-making assets.

  • Tim T

    African Americans should make an effort of investing in Africa . There is so much potential back home. You are very welcome in a country like Kenya than the US . Do your research.

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