2022 Black Well-being Final w links for Web 11.29.22 - Flipbook - Page 35
BLACK WELL-BEING REPORT 2022
BLACK FUTURE CO-OP FUND
Cost of Housing Compared to Black Median Household Income in Washington*
Fair Market Value of a
2-Bedroom Apartment
(Monthly)
Income Needed to
Afford a Fair Market
Value 2-Bedroom
Apartment
(Annual)
Statewide Black
Median Household
Income (2019)
County Annual Income
Needed as a Percent
of Black Median
Household Income
King County
$1,906
$76,240
$56,250
136%
Pierce County
$1,461
$58,440
$56,250
104%
Snohomish County
$1,906
$76,240
$56,250
136%
Clark County
$1,536
$61,440
$56,250
109%
Spokane County
$1,007
$40,280
$56,250
72%
*Source: Numbers are from Out of Reach Report 2021: Washington. https://reports.nlihc.org/sites/default/files/oor/files/reports/state/wa-2021-oor.pdf
Interest rates are also higher
When we are able to acquire loans, we are charged higher interest
rates. There is a history of Black women getting the highest interest
rates for home loans across all racial categories.76 And lenders have
a high mortgage denial rate when it comes to Black people overall.77
Nationally, 32% of Black people live in homes where a Black woman
is the head of the household.78
We spend a lot of time in transit
Food costs a lot
Today, 19% of Black people across the state are food insecure, 5%
more than the general population.81 At one point in July during the
pandemic, that statewide number jumped to 51%.82 Approximately
The average commute time in Washington state is 27.6 minutes,
two out of every five Black households experience food insecurity
higher than the national average.79 That does not account for people
in King County. Between 2020 and 2021, food prices went up 3.4%,
using public transit. Due to the impacts of displacement, we live
more than it has since 2011, and the increases appear as though
further away from jobs, grocery stores, affordable child care, health
they’ll continue.83
care, and each other. So, we spend more money and time to get
there. In the Seattle area, Black residents spend 18 more hours each
year commuting than white residents, and double that to 36 hours
more for Black residents with low incomes.80
Healthcare costs and medical debt
The average American family spends around 11% of household
income on health care premiums and out-of-pocket costs, but that
amount approaches 20% for African American households.84 Today,
93% of Black Washingtonians have health insurance. In 2019, 34%
of Washingtonians enrolled in Medicaid were Black, limiting the types
and number of providers we can access.85
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