Markets

Insider Trading

Hedge Funds

Retirement

Opinion

15 Most Black States in the US

In this article, we will be taking a look at the 15 most black states in the US. If you do not want to learn about the demographics of global black population, head straight to the 5 Most Black States in the US.

Overview of the Global Black Population: Demographics, Trends, and Immigration Patterns 

The global black population is widely spread across Europe, Asia, and America. Africa is the ancestral homeland of these black people with around 980 million black people in the continent. If we talk about the black population in the US, it saw a 32% increase since 2000, reaching 47.9 million in 2022, making up 12% of the US population. Brazil also has one of the largest black populations with around 20.6 million people in the country identified as black in 2022 which makes up 10.2% of the country’s population.

The Caribbean is the largest origin source of Black immigrants, but the fastest growth is among African immigrants. The Black African immigrant population in the US grew by 246%, from roughly 600,000 to 2.0 million between 2000 and 2019. The top 10 countries of origin accounted for 69% of the foreign-born Black population in 2000 and 66% in 2019, and all these countries are in Africa or the Caribbean. Nigeria and Ethiopia were the top birthplaces for Black immigrants in 2019.

Approximately 2.1 million sub-Saharan African immigrants resided in the United States in 2019, representing 5 percent of the total foreign-born population. While most of the 4.6 million Black immigrants in the United States are from the Caribbean, people from sub-Saharan Africa represent a growing share. The U.S. Census Bureau projects that the total foreign-born Black population will more than double by 2060, to 9.5 million.

Shifting the focus to the median age of the black population, the median age of the black population in America is 32.1 years as compared to the overall US population. Importantly, 31% of the black population aged 25 and older had a bachelor’s degree at least, in 2019 which underlines the need for education among the black people.

Black-Owned Businesses Across the Globe 

Many big companies are owned by black people. These companies include Axsome Therapeutics, Inc. (NASDAQ:AXSM), Urban One, Inc. (NASDAQ:UONE), Broadway Financial Corporation (NASDAQ:BYFC), and RLJ Holding Trust, among many others. Axsome Therapeutics, Inc. (NASDAQ:AXSM) focuses on the development and commercialization of therapies for central nervous system disorders. Their major contributions include the development of Auvelity for major depressive disorder and Sunosi for excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea. Axsome Therapeutics, Inc. (NASDAQ:AXSM) is also advancing a pipeline of investigational therapies that target conditions like Alzheimer’s disease, agitation, smoke cessation, acute migraine, narcolepsy, and fibromyalgia. Their AXS-05 which is an oral N-methyl-D-aspartate (NMDA) receptor antagonist, received approval in 2022. Financially, Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s total net product revenues stood at $71.5 million in Q4, 2023. Their product, Avelity’s net product sales were $49 million for the same period.

On the other hand, Urban One, Inc. (NASDAQ:UONE) is one of the biggest black-owned media companies in the US, founded by Cathy Hughes in 1980. The company operates several media brands which include TV One, Radio One, Reach Media, and iOne Digital. In Feb 2023, Urban One, Inc. (NASDAQ:UONE) launched a new podcast network, which debuted ten new shows and had 1.5 million downloads. A month after that, in March 2023, the company sold its 1% stake in MGM Resorts International which is a casino and hospitality company. Urban One, Inc. (NASDAQ:UONE) had a revenue of $239.5 million in 2023.

Broadway Financial Corporation (NASDAQ:BYFC) is one of the biggest black owned bank in the US. In 2020, Broadway Federal Bank, the commercial lending subsidiary of Broadway Financial Corporation, merged with City First Bank in Washington D.C. to form the nation’s largest Black-controlled bank with over $1 billion in assets. A recent study by the Federal Deposit Insurance Corporation found that minority-led institutions like Broadway Financial Corporation (NASDAQ:BYFC) outperformed traditional banks in originating mortgages and small-business loans to borrowers in low- and moderate-income areas. Broadway Financial Corporation (NASDAQ:BYFC) reported consolidated net earnings of $1.8 million, or $0.03 per diluted share, for the first six months of 2023, compared to consolidated net earnings of $2.8 million, or $0.04 per diluted share, for the first six months of 2022.

A young African American woman excitedly speaking on her smartphone while using a prepay mobile service.

Our Methodology 

For our methodology, we have ranked the most black states in the US based on the total black population in these states as of 2020. For the accuracy of data, we relied on the US Census Bureau. For data points like black education, poverty rates and cities with the highest black population in these states, we’ve relied on Blackdemographics.com.

Here is our list of the 15 most black states in the US.

15. South Carolina  

Total Black Population: 1,280,531 

Black people in South Carolina make up 26% of the state’s total population. Just five years before the Civil War in 1860, around 57% of the state’s population were enslaved African Americans with this percentage reaching as high as 90% on the coastal rice plantations. The black community in South Carolina faces challenges with a median household income of $32,175. The family poverty rate is also high, standing at 21.2%, double the state average of 11.3%. Besides that, the homeownership rate among black people in South Carolina is 52.8%.

14. Alabama 

Total Black Population: 1,296,162 

Alabama has a significant African American population which comprises 26.8% of the state’s total population. The first black-owned and black-operated bank, Penny Savings Bank is also in Alabama. The median household income for black people in the state in 2023 was $48,123.

13. Michigan  

Total Black Population: 1,376,579 

Black people in Michigan make up 14% of the total state’s population, placing Michigan thirteenth among most black states in the US. A large population of black people is based in Detroit, making up 79% of the city’s total population. Other cities with large black populations in the state include Fling, Saginaw, and Grand Rapids. The median household income for black people in the state is $63,498. Around 19.5% of the black people in Michigan have achieved a bachelor’s degree.

12. Pennsylvania  

Total Black Population: 1,423,169 

Pennsylvania has one of the largest black populations in America with black people making up 11% of the state’s population. Philadelphia metropolitan area hosts the largest black population which makes up around 44% of the city’s total population. Other urban areas like Pittsburgh, Harrisburg, and Allentown are also known for their large black populations. The median household income for black people in the state is $42,431. Around 21.9% of the state’s population has a bachelor’s degree. Challenges still persist with the family poverty rate in the state standing at 21.4%, double the state’s overall family poverty rate of 8.3%.

 11. Louisiana  

Total Black Population: 1,464,023 

Black people in Louisiana make up 32% of the state’s total population, placing Louisiana among the most populated black states in the US. The black population in the state faces challenges with the 12% unemployment rate among African Americans in the state. Additionally, the graduation rates for black students in the state are lower as compared to other racial groups in the state. The median household income for the black population in the state was $36,139 in 2023.

10. Ohio  

Total Black Population: 1,478,781 

In 2020, the total black population in Ohio was 1,478,781, making up 12.34% of the state’s total population. During the 2019-2020 school year in Ohio, 281,767 out of 1.7 million students were black and an additional 48,000 students were estimated to have a black parent. Black children represent 16% of all Ohio youth but 56% of incarcerated youth. The median household income for black people in Ohio was $36,929 in 2023.

9. Virginia 

Total Black Population: 1,607,581 

Black people in Virginia make up 18.9% of the state’s total population. The largest black populations reside in metropolitan areas like Richmond and Hampton Roads. The family poverty rate for black people stood at 13.2% in 2020 compared to 6.9% for the state. The percentage of Black Virginians with a bachelor’s degree or higher was 27.6% compared to 41.8% for the state in the same year. The median household income for African Americans in Richmond, Virginia is $38,889. In terms of housing, the homeownership rate for Black Virginians was 48.4%, compared to 67.6% for the state and the percentage of Black households that were married-couple families was 30.5%, compared to 48.9% for the state, in 2020.

8. Illinois 

Total Black Population: 1,808,271 

Approximately 14.1% of Illinois’s total population is black which places Illinois among the most black states in the US. A large proportion of Illinois’s African American population resides in the Chicago metropolitan area, where they make up 30% of the city’s population and 18% of the metro population. In terms of education, 25.1% of Black adults in Illinois had a bachelor’s degree or higher, compared to the statewide rate of 37.1%, in 2020. The median household income for black people in the state is $42,118.

7. Maryland  

Total Black Population: 1,820,472 

Maryland had 1,820,472 black people in 2020 which makes up about 29% of the state’s total population. More than half (56%) of the state’s Black residents live in Prince George’s County and Baltimore City. Other areas with large Black populations include Charles County (49%), Somerset County (42%), and Baltimore County (29.7%). The median household income for black people in the state was $30,746 in 2021. The percentage of Black residents in Maryland with a bachelor’s degree or higher was 32.5%, compared to the state’s overall rate of 42.5% in 2020 and the family poverty rate for Black families in Maryland was 11.7%, higher than the state’s overall family poverty rate of 7.4%, in the same year.

6. North Carolina  

Total Black Population: 2,140,217 

North Carolina stands sixth among the most black states in the US. Around 21% of the state’s population is black. The percentage of African Americans with a bachelor’s degree or higher was 24.7%, compared to 34.9% for the state overall, in 2020 and the family poverty rate for African Americans was 16.5%, higher than the state’s overall family poverty rate of 9.4%, in the same year. The median household income for black people in the state was $47,137 in 2023. North Carolina has been home to historically black colleges and universities (HBCUs) such as North Carolina A&T State North Carolina Central University, and Winston-Salem State University, which have played a vital role in the education and empowerment of African Americans in the state and beyond.

Click to see and continue reading the 5 Most Black States in the US

Suggested Articles:

Disclosure. None: The 15 Most Black States in the US is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

  • The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
  • Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
  • Lifetime Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

  1. Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
  2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
  3. Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…