Latinos face major income and wealth gap in San Diego County, report finds

Latinos have the lowest median income of any racial group in San Diego County, according to a report released Wednesday.

The San Diego Foundation’s "State of San Diego Latinos Report” notes there are more than 1.14 million Latinos across the county, making up about 35% of the population. That’s the fourth largest Latino population of any county in California, behind Los Angeles, Riverside and San Bernardino.

The average age of Latinos in San Diego County is 33 – nearly a decade younger than the average of 42 for non-Latinos — the report says. About 69% of Latinos in the county were born in the U.S., and of the rest who are immigrants, 53% are citizens, according to the report.

Most Latinos in San Diego County make less than $50,000, the data shows, and the median income is $39,000. That’s the lowest among racial groups and nearly $28,000 less than the median income of white San Diegans.

The report says focus group participants pointed to language barriers and difficulty accessing resources like loans and financial support as a reason for the income and wealth gap.

In comparison to other Southern California counties, Latinos’ median income is lower when adjusted for the cost of living. That’s despite having a higher rate of attaining bachelor’s degrees: 24%, which is double that of Riverside County but still less than half of both Asian and white San Diegans.

Another gap the report found is in home ownership: just 43% of Latinos in San Diego County live in homes that are owned, while that percentage is 59% for non-Latinos.

The report says investing in Latinos “will be critical to the region’s long-term economic vitality and shared prosperity,” and recommends greater outreach efforts and better access to capital.