Racial Wealth Gap

Washington University in St. Louis researchers propose using child development accounts as a way for local and federal governments to deliver reparations to Black Americans. The recent journal entry explores three wealth-accumulating options for Black people to receive reparations — cash transfer, a savings plan or a trust fund.

Homeownership rates have increased for minorities over the past few years, according to the National Association of Realtors 2024 Snapshot of Race and Home Buying in America Report. Just 41% of Black Americans own homes in Missouri, which is below the national average.

22 of the 26 new homes will be designated for families who are ready to buy a home and make below 80% of the area median income, $75,900 for a family of four.

BJC’s investment, along with others, brings the WEPOWER Capital’s total to $1.5 million and will go to high-growth, St. Louis-area Black- and Latino-owned businesses.

St. Louis Public Radio is taking the next year to unpack how wealth inequality impacts our region in a series of stories. Here’s your guide to understanding the basics.

When it comes to the wealth gap, a college degree “doesn’t serve as an equalizer among Black and white families,” said Lowell Ricketts, a data scientist with the Federal Reserve Bank of St. Louis.

Racial covenants made it illegal for Black people to live in white neighborhoods. Now they're illegal, but you might still have one on your home's deed. And they're hard to remove.

Unlike some states, Missouri doesn’t have a process laid out for homeowners to amend racially restrictive covenants. But some lawyers passionate about the issue are helping homeowners amend them and pushing for lawmakers to do more.

The covenants, widely used in the early- to mid-1900s, shut Black St. Louisans out of white neighborhoods for decades and had long-lasting impacts on communities. Many homeowners have no idea these legal documents still are associated with their deeds.

St. Louis Mayor Tishaura Jones is one of a dozen U.S. mayors calling for local reparations to address the racial wealth gap by ending racist policies.