Why wealthy blacks are leaving Chicago for the South

By | September 27, 2015

The Chicago area has fallen out of the top echelon of cities when it comes to the percentage of black households earning more than $100,000, according to a Nielsen report.

In 2000, the metropolitan area ranked seventh, at 1.3 percent, among the cities with the largest percentage of black households with income at that level or higher, Nielsen said.

In 2015, Chicago and Detroit are among the cities that have dropped out of the top 10, replaced by Southern towns including Baton Rouge, La., and Augusta-Aiken, Ga.-S.C., which now rounds out the top tier at 2.9 percent.

In terms of sheer numbers, Chicago and Detroit are still among the cities with the most wealthy black households.

But in terms of percentages, Chicago now ranks 21st, with 2.1 percent of black households earning at least $100,000, said Nielsen, which monitors what consumers watch and buy. The findings came from its newly published report, “Increasingly Affluent, Educated and Diverse: African-American Consumers, the Untold Story.”

Brookings Institution demographer William Frey, author of “Diversity Explosion,” credits the continued migration of young, educated African-Americans to the South for at least part of the reason Chicago has fallen off the top 10 list. (Chicago Tribune)

Click here for more…