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Florida: The Most Financially Unequal State Among All Racial Groups

Source: WalletHub

Current trends show that a wide financial gulf continues to divide racial groups in the U.S., with Hispanic and black Americans still at the bottom of the economic ladder, according to recent data released by Wallet Hub.

A December 2014 Pew Research Center report found, the current gap between blacks and whites at its highest point since 1989, with whites having 17 times the wealth of black households. The current white-to-Hispanic wealth ratio has reached a peak not seen since 2001.

Florida leads the nation in financial inequality among all racial groups, with West Virginia and Vermont occupying second and third place, respectively, according to Wallet Hub.

Wallet Hub analyzed each state across 21 key metrics, including the median household income gap, poverty rate gap and the unemployment rate gap.

See Wallet Hub’s table of rankings, by state, below:

Overall Rank

State

Highest Median Household Income Gap
(most disadvantaged group)

Highest Homeownership Rate Gap
(most disadvantaged group)

Highest Poverty Rate Gap*
(most disadvantaged group)

Highest Educational Attainment Gap**
(most disadvantaged group)

1 Florida 31.77%
(blacks)
34.43%
(blacks)
102.82%
(blacks)
39.11%
(blacks)
2 West Virginia 35.56%
(blacks)
41.88%
(blacks)
98.27%
(blacks)
23.63%
(blacks)
3 Vermont 12.99%
(hispanics)
75.78%
(blacks)
121.24%
(blacks)
13.55%
(blacks)
4 Alaska 33.01%
(blacks)
53.00%
(blacks)
85.07%
(blacks)
45.95%
(blacks)
5 Hawaii 17.82%
(hispanics)
54.24%
(blacks)
59.09%
(hispanics)
54.47%
(hispanics)
T-6 Kentucky 35.26%
(blacks)
46.77%
(blacks)
89.53%
(hispanics)
31.65%
(blacks)
T-6 New Mexico 33.81%
(hispanics)
31.42%
(blacks)
119.83%
(hispanics)
61.00%
(hispanics)
8 New Hampshire 26.97%
(hispanics)
42.06%
(hispanics)
144.19%
(blacks)
37.30%
(hispanics)
9 Montana 43.56%
(blacks)
59.09%
(blacks)
103.73%
(hispanics)
50.85%
(hispanics)
10 Missouri 37.24%
(blacks)
43.64%
(blacks)
122.22%
(blacks)
43.07%
(blacks)
T-11 Maryland 29.68%
(blacks)
35.96%
(hispanics)
118.31%
(blacks)
49.81%
(hispanics)
T-11 Virginia 36.28%
(blacks)
39.53%
(hispanics)
117.20%
(blacks)
43.78%
(hispanics)
13 Idaho 24.75%
(hispanics)
49.96%
(blacks)
99.28%
(hispanics)
62.62%
(hispanics)
T-14 Delaware 29.77%
(hispanics)
39.02%
(hispanics)
193.98%
(hispanics)
51.98%
(hispanics)
T-14 Nevada 30.31%
(blacks)
47.10%
(blacks)
112.61%
(hispanics)
67.81%
(hispanics)
16 Michigan 44.84%
(blacks)
43.43%
(blacks)
161.31%
(blacks)
42.92%
(hispanics)
17 Colorado 35.91%
(hispanics)
40.02%
(blacks)
157.45%
(hispanics)
70.96%
(hispanics)
18 Ohio 46.65%
(blacks)
48.41%
(blacks)
164.12%
(blacks)
40.81%
(blacks)
19 Mississippi 46.63%
(blacks)
40.81%
(hispanics)
152.74%
(blacks)
45.85%
(hispanics)
20 Oklahoma 38.52%
(blacks)
40.48%
(blacks)
118.31%
(blacks)
65.19%
(hispanics)
T-21 California 34.93%
(hispanics)
40.92%
(blacks)
124.76%
(hispanics)
72.40%
(hispanics)
T-21 Louisiana 49.33%
(blacks)
40.00%
(hispanics)
163.28%
(blacks)
45.13%
(blacks)
23 Oregon 36.15%
(blacks)
48.53%
(blacks)
116.77%
(blacks)
58.63%
(hispanics)
T-24 Maine 48.69%
(blacks)
66.49%
(blacks)
251.85%
(blacks)
15.13%
(blacks)
T-24 Pennsylvania 42.37%
(blacks)
43.96%
(hispanics)
237.37%
(hispanics)
49.46%
(hispanics)
26 Wyoming 45.54%
(asians)
55.31%
(blacks)
138.53%
(blacks)
62.59%
(hispanics)
T-27 Indiana 41.95%
(blacks)
48.59%
(blacks)
155.73%
(blacks)
54.24%
(hispanics)
T-27 South Carolina 43.21%
(blacks)
42.91%
(hispanics)
140.94%
(hispanics)
55.58%
(hispanics)
29 Texas 37.74%
(hispanics)
36.09%
(blacks)
178.95%
(hispanics)
65.18%
(hispanics)
T-30 Alabama 42.37%
(blacks)
38.45%
(hispanics)
149.23%
(hispanics)
48.13%
(hispanics)
T-30 Arizona 31.43%
(hispanics)
49.52%
(blacks)
150.86%
(hispanics)
69.23%
(hispanics)
32 Washington 33.07%
(blacks)
53.38%
(blacks)
150.93%
(hispanics)
58.96%
(hispanics)
T-33 Arkansas 41.82%
(blacks)
36.88%
(blacks)
119.08%
(hispanics)
65.73%
(hispanics)
T-33 Tennessee 33.02%
(blacks)
47.66%
(hispanics)
140.56%
(hispanics)
51.98%
(hispanics)
T-33 Utah 36.39%
(blacks)
51.71%
(blacks)
173.74%
(hispanics)
62.91%
(hispanics)
36 New York 40.36%
(hispanics)
63.94%
(hispanics)
163.37%
(hispanics)
57.18%
(hispanics)
37 New Jersey 40.37%
(blacks)
53.80%
(hispanics)
230.65%
(hispanics)
58.24%
(hispanics)
38 North Dakota 46.59%
(blacks)
77.84%
(blacks)
328.72%
(blacks)
35.22%
(hispanics)
39 North Carolina 37.41%
(blacks)
42.05%
(hispanics)
177.05%
(hispanics)
60.15%
(hispanics)
40 Georgia 35.72%
(hispanics)
42.34%
(hispanics)
158.06%
(hispanics)
60.60%
(hispanics)
41 Kansas 38.21%
(blacks)
44.92%
(blacks)
148.15%
(hispanics)
65.43%
(hispanics)
42 South Dakota 37.58%
(blacks)
67.17%
(blacks)
221.00%
(blacks)
58.45%
(hispanics)
43 Massachusetts 51.76%
(hispanics)
64.18%
(hispanics)
272.84%
(hispanics)
58.12%
(hispanics)
44 Illinois 45.95%
(blacks)
46.15%
(blacks)
188.99%
(blacks)
64.99%
(hispanics)
45 District of Columbia 64.71%
(blacks)
38.44%
(hispanics)
232.53%
(blacks)
72.76%
(blacks)
46 Connecticut 51.78%
(hispanics)
56.67%
(hispanics)
340.98%
(hispanics)
65.11%
(hispanics)
47 Iowa 47.95%
(blacks)
59.97%
(blacks)
231.58%
(blacks)
56.26%
(hispanics)
48 Wisconsin 51.00%
(blacks)
60.54%
(blacks)
259.81%
(blacks)
61.39%
(hispanics)
49 Nebraska 46.05%
(blacks)
52.90%
(blacks)
190.18%
(blacks)
69.18%
(hispanics)
50 Rhode Island 51.58%
(hispanics)
60.55%
(hispanics)
284.95%
(hispanics)
65.34%
(hispanics)
51 Minnesota 51.06%
(blacks)
68.28%
(blacks)
296.67%
(blacks)
50.98%
(hispanics)

*Note: The Highest Poverty Rate Gap category describes the poverty rate of a certain ethnicity in relation to that of whites. For reference, 100% would mean twice the poverty rate of whites.

**Note: The Educational Attainment Gap refers to Bachelor’s Degree or Higher.

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