An Economic Perspective on Black Hartford’s History & Future Diane L. Smith April 10, 2008

General Overview Population Income Housing Education

Changes in Hartford Population In 1950, Hartford’s Population was less than 10% black. By 1990, the population was 40% black, 40% White and 20% Hispanic estimates Hartford’s black population at 37% The city has lost more than a third of its population since 1950

Concentration of Black Population Black population begins and concentrates in north end Figure 1 Black Population 1950 Figure 2 Black Population 1960 Figure 3 Black Population 1970Figure 4 Black Population 1980

Income Distribution Median Income In general, median income for blacks in the US is 67% of whites from 1967 to 1980

Income Distribution Median Income In 2000, Hartford median income was 46% of the state’s median. Hartford black media was just about equal to the city’s level Census data estimates for CT black median income falling to 59% of whites; $70K vs. $41K

Income Distribution Poverty Hartford’s poverty rate in 2006 was 32% compared to the State’s at 8% 26% of Hartford black population lived at poverty income levels

Income Distribution Poverty Geographically - Hartford

Income Distribution Hartford Revenue Hartford receives about 46% of its annual revenues from taxes; another 45% from intergovernmental sources Property tax (residential and commercial) is the source of most of the tax revenue The state provides more than 80% of the intergovernmental funds to the city

Housing Opportunity Historically, blacks occupied the oldest units in the city as well as the largest developments

Housing Opportunity In 1960, about 25% of Hartford’s housing stock had been built in the last ten years By 2000, only 4% of the city’s stock had been built in the last decade. Nearly one third of Hartford’s housing was built before 1939

Housing Opportunity More than half of Hartford’s housing was comprised of single family units in By 2000 that percentage had shrunk to one fifth. Another on fifth of the housing in 2000 were developments of 20, 50 or more units.

Housing Opportunity Homeownership 2000 Hartford (n)BlackWhiteHispanic Single family 6500% Ownership40%43%19% $93,000 Median House Value$91,200$97,400$92,000

Education 41% of Hartford’s student enrollment is black. Hartford’s 3 rd, 4 th, and 5 th graders had the lowest proportion of students meeting goals for reading in the state in the year. The high school graduation rate for Hartford students 2006 was 76% compared to the state rate of 92%. State Dept. of Education reports 38.7% of Hartford adults don’t have a high school diploma.

Education Hartford Expenditures Hartford’s budget includes $261MM for education. A total of 51% of its general fund budget

The Challenge for Black Hartford Access and commitment to wealth building strategies including: –Successful schools and education –Employment opportunities that are economically viable –Homeownership opportunities Public policies and investment that support: –Educational infrastructure responsive to current and future student needs –Strategic economic development including small business development –Neighborhood revitalization Private interest and investment that complement public purpose