A new report from the Chicago Urban League reveals a stark economic reality for Black families across Chicago.
Released Tuesday morning during the Urban League’s annual summit breakfast, the 2025 “State of Black Chicago” report highlights persistent disparities in income, homeownership, education, and health outcomes, but its most startling finding may have been this: that the median net worth of Black Chicago residents was $0.
“The median wealth is zero… not five, not $10,000, but zero,” said Karen Freeman-Wilson, President and CEO of the Chicago Urban League.
The finding is in stark contrast to the median net worth for white families in Chicago, which stands at $210,000, according to the report.
The report, titled “A Laddered Path to Wealth Building,” outlines both the challenges and proposed solutions facing the city’s Black population.
A Critical State
Chicago Mayor Brandon Johnson echoed the urgency of the moment during the event.
“The state of Black Chicago, like the state of our entire city, is critical,” Johnson said.
The Urban League’s report draws on U.S. Census Bureau data and other research, including findings from the Color of Wealth in Chicago project, to show that Black families continue to lag in key areas such as homeownership.
Between 2012 and 2022, white homeownership in Chicago grew from just under 70% to more than 72%. Black homeownership barely moved—from 43% to 44%.
“We’re in a critical stage and a critical state where we definitely have to seek new opportunities,” said Lutalo McGee, president-elect of the Chicago Association of Realtors.
Rooted in History
Housing advocates say disparities stem from decades of discrimination and systemic policies.
“I think we can look at any of the neighborhoods and kind of unravel the threads of history and see how most of these conditions were designed that way,” said Katelyn Johnson of the Black Roots Alliance.
The report makes clear that the gaps are not only financial. It also covers disparities in education, employment, health, and civic leadership—all viewed as interconnected elements of holistic wealth.
A “Laddered Path” Forward
Rather than just presenting data, the 2025 report introduces a framework called the “Laddered Path to Wealth Building,” which outlines five stages of financial advancement: Money Mindfulness, Stable Security, Compounding Interest, Community Prosperity, and Long-Term Growth.
The Urban League is proposing a wide range of solutions to help Chicago’s Black residents climb that ladder, including business accelerator programs, expanded financial literacy efforts, and new homeownership partnerships like the one recently launched with Kinexx modular construction and Ani Real Estate.
“As we talk about the state of Black Chicago, we lift up those solutions that give us the opportunity to help Chicagoans develop family-sustaining careers,” said Freeman-Wilson.
“We need to just touch everyone that can be a possible homeowner, and talk to them about the process, talk to them about the opportunity, show them the resources that exist,” added McGee.
The full report also offers policy recommendations ranging from small business seed grants and property tax incentives to community land trusts and employer-backed down payment assistance programs.
Read the Full Report
The Chicago Urban League’s 2025 State of Black Chicago report can be downloaded here.
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