Report Highlights Economic Disadvantages of Region’s Hispanic Families
Investment in Latinos is Key to Preserving the Strength of Central Texas
AUSTIN, Texas – When Hispanics Rise, Austin Rises, a new report released by the Hispanic Impact Fund at Austin Community Foundation reveals major disparities in access to economic mobility for Hispanics in Central Texans. According to the data, Hispanics will become the largest demographic group in Central Texas by 2040, yet Latinos face an apparent opportunity gap compared to whites when it comes to early childhood education readiness, access to healthcare and employment opportunities.
Some of the data points include:
- The poverty rate for Hispanics is almost three times that of white individuals in Travis County.
- The region’s per capita annual income is $32,000. However, Latinos make approximately $17,000 per year.
- Nearly 60 percent of Latinos that rent are housing-cost burdened, meaning they spend more than 30 percent of their monthly income on housing costs.
- Only 28 percent of low-income Hispanic children are considered “kindergarten ready.”
- One in four working-age Hispanic adults have no primary healthcare provider.
“Austin is considered to be among the best places to live in the nation, yet our city is also the most economically segregated,” Carla Piñeyro Sublett, co-chair of the Hispanic Impact Fund, said. “As we continue to see substantial growth in Central Texas, we must address these important issues facing local Hispanic families.”
Austin Community Foundation believes investing in the economic security and advancement of Latinos in Central Texas is an essential priority when considering the future of the region. In 2017, the Foundation launched the Hispanic Impact Fund, which offers unique opportunities for individuals and companies to invest in data-informed grantmaking to advance the economic security of Hispanic Central Texans.
“We believe that when we support the economic security and advancement of Hispanic Central Texans, everyone benefits,” Mike Nellis, chief executive officer, Austin Community Foundation, said. “The Hispanic Impact Fund is one of the Foundation’s strategies to help close the opportunity gap in our community.”
The report — developed in collaboration with the RGK Center for Philanthropy and Community Service at the LBJ School of Public Affairs at The University of Texas — will guide the grant-making process and ensure that grants distributed by the Hispanic Impact Fund have an impact. This spring, the Hispanic Impact Fund will grant $180,000 to local nonprofits in three target areas: early childhood education, health and wellness, and job skills and entrepreneurship.