Ladies, it might be time to pack your bags and head to Southfield, Michigan.
Now I know you may be thinking: “what’s in Southfield, Michigan?” And it’s a great one to ask. With a Black homeownership rate of nearly 70% and a negative poverty rate, this Detroit suburb is quietly becoming the promised land for Black women looking to build wealth and financial security.
According to a recent analysis by MoneyGeek, which examined data from the Census’ American Community Survey, this city, and several others stand out as particularly favorable for Black women’s financial growth and stability, with Southfield practically rolling out the red carpet.
We all know that homeownership has long been the cornerstone of building generational wealth in America, and with interest rates that have only continued to climb over the years, and other systemic barriers to wealth, ranging from discriminatory lending practices to income inequality, there’s a glimmer of hope.
And the hope lies within certain cities that have emerged as beacons of opportunity where Black women are thriving financially.
As mentioned, Southfield leads the pack as MoneyGeek’s list among 500 cities with over 65,000 people, showing strong percentages of income, homeownership and educational attainment. This Detroit suburb has a poverty rate of almost -3%, indicating Black women there are doing better than the general population.
There’s power in knowing where to plant your roots, and as we head into a looming recession, it’s time to find a place to bloom.
In Pearland, Texas, ranked second by MoneyGeek, Black women experience one of the lowest income gaps compared to other state residents. This Houston suburb boasts zero reported racially motivated hate crimes and offers a suburban feel with proximity to a major economic hub.
But some cities might surprise you with just how well Black women are thriving. Carson, California stands out as the only West Coast city to make MoneyGeek’s top eight, with negative higher education gaps and poverty rates—meaning Black women there are actually faring better than average.
The financial burden of living in high-crime areas often goes undiscussed, but cities like Port St. Lucie, Florida (ranked fourth) demonstrate why it matters. MoneyGeek found annual per capita spending on crime below $600 and less than 5% of crimes per million people being racially motivated. It’s the only Florida city to make the top eight.
Norwalk, Connecticut ranks fifth on MoneyGeek’s list. Despite having a Black population of nearly 13%, the city boasts negative figures for poverty rate, high school and higher education gaps.
Texas dominates the list with four cities in the top eight. Garland ranked sixth and Mansfield, seventh, boasting the lowest poverty rate among top cities. Coming in hot and strong at number eight was Missouri City because it has the second-highest Black homeownership rate at nearly 50%.
Black women looking to relocate should investigate these cities thoroughly. The complete financial picture includes not just housing costs but healthcare access, employment opportunities, education quality, and safety. These factors—all considered in MoneyGeek’s analysis—combine to determine the true cost of living and potential for building wealth.
