Maryland city tops WalletHub’s purchasing power ranking on best cities for Hispanic entrepreneurs list

WASHINGTON - Columbia, Maryland ranks first when it comes to Hispanic purchasing power in a new WalletHub survey evaluating the best U.S. cities for Hispanic entrepreneurs.

The survey assessed various metrics to determine the ranking, including affordability, income growth, and job security for Hispanics. According to the report, Columbia excelled in several key areas, such as the share of Hispanic households with annual earnings above $75,000, housing affordability, and the Hispanic unemployment rate.

READ THE FULL LIST of WalletHub's Best Cities for Hispanic Entrepreneurs (2024)

WalletHub’s analysis considered the median annual income of Hispanics relative to the cost of living, the growth in Hispanic income, and the ratio of Hispanic renters to homeowners. The survey also factored in the share of Hispanic residents with at least a bachelor’s degree and the overall Hispanic population growth.

Columbia ranked 65th overall in the survey. They placed 158th in the rankings that determined Hispanic business-friendliness.

In Maryland, Baltimore ranked 133rd overall in WalletHub’s survey of the best U.S. cities for Hispanic entrepreneurs. In Virginia, Richmond placed 104th, Norfolk 129th, Virginia Beach 73rd, Chesapeake 71st, and Newport News 93rd overall.