As we recognize National Hispanic Heritage Month a new study shows Frisco is in the top ten cities for Hispanics and Latinos. The city is home to a large population of Hispanic individuals, and they have shown how important their roles are for the area.
The study by SmartAsset (via The Dallas Morning News) placed Frisco fourth out of 147 cities in the U.S. by looking at income, education and homeownership. Data shows 41.6% of Hispanics and Latinos hold bachelor’s degrees in Frisco and 7.28% own a business.
“They spend almost 27% of that income (ranked 42nd) on housing costs and just over 56% own their homes,” the study reads.
The data was compiled from the Latino Donor Collaborative, a non-profit organization that is dedicated to changing the perception of Latinos in the American mainstream.
Frisco has already proved a great place to live and work with the city ranking at the top as one of the richest and safest cities in the U.S. as Local Profile previously reported. The new study by SmartAsset shows that the average person of Hispanic descent makes around $105,696 per year.
“The census showed that most people who live in Frisco make at least $100,000 annually with the population sitting just above 188,000. The study compared 306 cities that have at least 100,000 residents.” Local Profile reported.
But Frisco isn’t the only city in North Texas that is the best place for Hispanics and Latinos. McKinney placed 15th on the list and Plano followed at 16th.
Currently, Hispanics and Latinos make up one-fifth of the U.S. population, and that number is up 23% in the last decade. The study also found that a contribution of $2.75 trillion in gross domestic products were from Hispanics and Latinos in 2019 versus the $1.7 trillion in 2010.