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Pembroke Pines Tops Among Cities for Hispanic Entrepreneurs

Hispanic Entrepreneurs
Hispanic small business owners of a dry cleaning shop. (WalletHub)

With National Small Business Week just around the corner and Hispanics creating businesses at 15 times the national rate in 2015, the personal-finance website WalletHub conducted an in-depth analysis of 2016’s Best Cities for Hispanic Entrepreneurs.

To help Hispanic entrepreneurs find the most fertile ground for their enterprises, WalletHub’s analysts compared the 150 largest U.S. cities across 19 key metrics. Our data set ranges from “Hispanic entrepreneurship rate” to “Hispanic income growth” to “share of Hispanic-owned businesses.”

Top 20 Cities for Hispanic Entrepreneurs
1 Laredo, TX 11 Amarillo, TX
2 El Paso, TX 12 Plano, TX
3 Corpus Christi, TX 13 San Antonio, TX
4 Pembroke Pines, FL 14 Chesapeake, VA
5 Baton Rouge, LA 15 Miami, FL
6 Hialeah, FL 16 Irvine, CA
7 Brownsville, TX 17 Springfield, MO
8 Sioux Falls, SD 18 Grand Prairie, TX
9 Tulsa, OK 19 Mobile, AL
10 Oklahoma City, OK 20 Overland Park, KS

Comparing the Best & Worst:

  • Hialeah, Fla., has the highest percentage of Hispanic residents, 95.6 percent, which is 61 times higher than in Jackson, Miss., the city with the lowest, 1.6 percent.
  • Montgomery, Ala., has the lowest Hispanic unemployment rate, 3.88 percent, which is five times lower than in Detroit, the city with the highest, 20.86 percent.
  • Irvine, Calif., has the highest percentage of Hispanics with at least a bachelor’s degree, 53.09 percent, which is 10 times higher than in Detroit, the city with the lowest, 5.10 percent.
  • Detroit has the highest percentage of affordable housing for Hispanics, 68.23 percent, which is nine times higher than in New York, the city with the lowest, 7.43 percent.
  • Pembroke Pines, Fla., has the lowest Hispanic renter-to-owner ratio, 0.47, which is 12 times lower than in Worcester, Mass., the city with the highest, 5.54.

By Richie BernardoFor a WalletHub News Release for SouthFloridaReporter.com, April 28, 2016 

WalletHub is the first-ever website to offer free credit scores and full credit reports that are updated on a daily basis. But we consider that just an appetizer, as we’ve built the brain of an artificially intelligent financial advisor that will truly leave your wallet full. WalletHub’s brain performs three primary functions, providing: 1) Customized credit-improvement advice; 2) Personalized savings alerts; and 3) 24/7 wallet surveillance. Such features are supplemented by more reviews of financial products, professionals and companies than any other website offers and a diverse community of subject matter experts. WalletHub is owned by Evolution Finance, Inc. and is based in Washington, DC.

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