Originally Posted in Oaklandxings
By Ken Epstein
Oakland is a city facing the loss of its racial, age, economic, cultural and social diversity, driven by the loss of affordable housing and a huge wealth gap, according to a new report produced by the City of Oakland.
The racial gap in household income is stark, with whites earning about double that of African Americans and other people of color.
Median household income of white families between 2008 and 2012 stood at $81,159. African American household income was $35,050, down from $42,975 in 2000.
The median income for Asian Americans between 2008 and 2012 was $45,238, down from $46,323 in 2000.
Latino families earned an average of $44,455, down from $53,341 in 2000.
The report, “Housing Equity Road Map,” cited a recent national study by the Brookings institution, which found that Oakland has the 13th highest income inequality in the nation, improving from 2012 when it ranked number seven.
In terms of housing affordability, Oakland has been first or second in the nation for the highest rent increases for multiple consecutive quarters.