By Griselda Nevarez | Phoenix New Times
Of the 150 largest cities in the nation, the one with the highest median income for Hispanics is Gilbert, Arizona. That’s according to a recent analysis by WalletHub.
The personal-finance Website found that when adjusted for cost of living, the median income for Hispanics in Gilbert is four times higher than the figure for Hispanics in lowest-ranking New York City.
Two other Arizona cities ranked high on WalletHub’s list: Scottsdale, at number 3; and Chandler, at number 5.
Jennifer Graves, economic-development manager for the Gilbert Office of Real Estate and Economic Development, said she believes Hispanics are benefiting from the city’s growth in science, technology, engineering, and math (STEM) occupations, which often pay higher wages. The health-care industry, too, has brought a significant number of well-paying jobs to Gilbert, she said.
“We really feel that has contributed to Gilbert’s overall higher level of medium household income,” Graves told New Times.
Nearly 35,000 of the estimated 223,000 residents in Gilbert — or more than 15 percent — are Hispanic, according to U.S. Census data.
Not surprisingly, the city also ranks high on WalletHub’s list of best cities for Hispanic entrepreneurs, coming in at number 23. Scottsdale, the second-highest-ranked Arizona city on the list, landed just behind, at number 24. Chandler, Peoria, and Tempe ranked lower. Arizona cities with larger Hispanic populations — among them Tucson, Mesa, Phoenix, and Glendale — didn’t crack the top 100.
WalletHub used 19 metrics to rank the best cities for Hispanic entrepreneurs, including median annual income earned by Hispanics, the percentage of Hispanics with at least a bachelor’s degree, and the Hispanic entrepreneurship rate.