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Tue October 9, 2012
Cubans Are Not the Wealthiest Hispanic Americans
Historically, Cubans have been among the wealthiest Americans of Hispanic origin. However, according to a report from the Pew Hispanic Center, that's not true anymore.
According to a Pew report, Ecuadorians, Colombians, Peruvians and Salvadorans, all make more money than Cubans.
Ecuadorians have the highest median household income among these groups, at $50,000. The median household incomes for Colombians ($49,500) and Peruvians ($48,000) are slightly less than that.
Dominicans ($34,000), Puerto Ricans ($36,000) and Hondurans ($38,900) rank in the bottom three on the measure of median household income.
According to the latest Census, Cubans have a median income of $40,000.
While Cubans might be trailing when it comes to income, they are still leading the pack in home-ownership.
Nearly six-in-ten (57%) Cubans own their homes—the highest homeownership rate among the 10 largest Hispanic origin groups. Mexicans have the second highest homeownership rate at 50%. They are followed by Colombians and Peruvians—both with homeownership rates of 49%.
This report is a few months old, but Bill Moyer's blog recently highlighted these statistics in a post today that shows "The Latino Electorate in Nine Charts."
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