Atlanta tied as No.1 city for economic prosperity among African-Americans, study finds

ATLANTA — Atlanta is the No. 1 city in the U.S. , where African Americans are faring the best economically (tied with Washington, D.C.), according to a report released by Forbes earlier this year.

The City of Atlanta tweeted the study's findings this week with the hashtag #CityOfOpportunity.

Two of the major markers for economic prosperity are  home ownership and self-employment, the study revealed.

According to Forbes, 20% of the metro Atlanta area's black working population is self-employed, the highest proportion in the nation.

Home ownership rates in Atlanta average 44.7 percent, compared to the national average of 41 percent.

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Though D.C. comes out on top when it comes to median household income for African-Americans at $69,246, the cost of living in Atlanta is much lower. The average black household income in Atlanta averages around $48,161.

According to Forbes, Atlanta's African American population is bolstered by its historically black universities, its strong middle class and a thriving black entertainment scene.

Overall, the majority of the top 20 cities with the best economic opportunities for African-Americans are in the South, according to the report. The top 10 were all in the South:

1, 2: TIE: Washington, DC/ Atlanta, Ga.

3. Austin, Tx.

4. Baltimore, Md.

5. Raleigh, N.C.

6. Charlotte, N.C.

7. San Antonio, Tx.

8. Houston, Tx.

9. Miami, Fl.

10. Richmond, Va.

Cox Media Group