The most recent phase of the Black Family Thriving Initiative seeks to better understand and describe the experiences of the Black middle class in the United States. Because most of the Black population resides in the South, policies that aim to close the racial wealth gap will need to address factors related to the economic conditions in the South. In this report, we share key recommendations for wealth-building strategies for Black Americans, emphasizing state and local policies that can be enacted and supported by government, the private sector, and philanthropy.

What We Did

We conducted qualitative interviews and a descriptive quantitative analysis focusing on wealth enabling and wealth-inhibiting factors that affect Black Americans. We also examined key economic indicators, along with wealth and asset distribution, in Black households in the South. We considered how these factors are present in the South compared to other regions.

What We Found

Our research revealed that Black families in the South continue to pursue wealth-building with resilience and ingenuity, making gains in employment, entrepreneurship, and homeownership. However, structural barriers—including discriminatory labor practices, underinvestment in education and health care, and limited access to financial tools—impede progress. Experts highlighted that Southern communities may offer stronger social ties and support for Black entrepreneurship, but systemic disinvestment and harmful policies (e.g., low minimum wages) often undermine these advantages. Ultimately, wealth-building strategies are broadly similar across regions.

Key recommendations include the following:

• Making public sector investments in education and safety-net supports
• Implementing employer practices that ensure livable wages, enforcement of anti-discrimination laws, and comprehensive worker benefits
• Mobilizing community and philanthropic support for evidence-based financial stability programs

These strategies offer a road map for closing the racial wealth gap and supporting the thriving of Black families nationwide.