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<br />5 <br />5 <br />The Racial Wealth Divide in South Bend <br />For more information, visit www.prosperitynow.org For more information, visit www.prosperitynow.org SEPTEMBER 2017 5For more information, visit www.prosperitynow.org <br />RACIAL WEALTH DIVIDE <br />IN SOUTH BEND <br />POPULATION <br />Note: Estimates of liquid asset poverty and households with zero net worth not published by Prosperity Now Scorecard are derived from a statistical model to create geographic estimates at the local level and <br />are not meant to directly reflect the SIPP data. Caution should be used in interpreting the local estimates as the statistical model is based on national surveys of fewer than 50,000 households. <br />HOUSEHOLD WITH ZERO NET WORTH <br />66% <br />HOUSEHOLDS OF COLOR IN <br />LIQUID ASSET POVERTY… <br />MEDIAN HOUSEHOLD INCOME <br />LIQUID ASSET POVERTY BY RACE <br />HOMEOWNERSHIP RATE <br />COST-BURDENED RENTERS <br />PROPERTY VALUE <br />Liquid Asset Poverty: A measure of the liquid savings households hold to cover basic expenses for three months if they experienced a sudden job loss, a medical emergency or another financial crisis leading to a loss of stable income. <br />As stated previously, all racial groups in South Bend are more economically <br />insecure than the national median, and this weakened economic state combined with racial economic inequality creates greater financial instability for communities of color. As South Bend works to diversify its economy and strengthen economic well-being for all of its residents, it must place addressing racial economic inequality at the forefront of its economic development plans.