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Bienvenidos a Detroit
Pequeña y Poderosa,
Small And Mighty
While only 7.6% of Detroit's population, the Hispanic community, Mexican, Mexican-American, Chicano, Puerto Rican and others—has experienced a 9.3% growth over the past two years in real wage and salary income, contributing to a generational wealth increase.
Much of this gain is from the increased number and value of Hispanic family homes in this multicultural city, which was the goal of many innovative programs created by Mayor Mike Duggan and the Detroit City Council with funds from the American Rescue Plan Act (ARPA). Discover them at the Housing and Revitalization Department.
Hogar Feliz,
Happy Home
Hispanic Home Ownership up 181%
Because of this community-centered lifestyle, Hispanic neighborhoods watched their net housing wealth climb from $165 million in 2014 to $463 million in 2022, a 181% increase. Homeownership is a catalyst for wealth growth, especially in Detroit’s market, where the median housing prices were up 13.1% from 2019 to 2020. City programs such as the Down Payment Assistance Program provide grants up to $25,000 for a down payment.
University of Michigan. (2023). The Growth of Housing Wealth in Detroit and Its Neighborhoods: 2014-2022.
The Hispanic Family Home
The Hispanic and Latinx culture has always centered around home. Southwest Detroit’s average household size is 7.1 compared to Detroit’s overall of 2.5 people per household. Multi-generations sharing a home speaks to the community’s cultural norms that influence family solidarity which in turn, creates legacy wealth. These connections to family, which help to build solid communities, explain why Hispanic household wealth has grown more rapidly than any other demographic group.
University of Michigan. (2023). The Growth of Housing Wealth in Detroit and Its Neighborhoods: 2014-2022.
El Negocio de la Familia,
The Family Business
Southwest Detroit Awarded
Michigan Main Street Status
Detroit’s Hispanic business district has prospered due to independent start-ups and family-owned and operated businesses. In 2017, the Southwest Detroit Business Association successfully applied for Michigan Main Street status, a designation that is hard-earned and based on organization, promotion, design and economic vitality.
Businesses Boom in Southwest
The Hispanic entrepreneurship rate nationwide grew 31.6% between 2012 and 2017. Much of the Hispanic community’s business success rests on a City of Detroit program called Motor City Match. This initiative provides gap-funding to existing and start-up businesses through grants up to $100,000.
Detroit’s Motor City Match has given away $19.1 million dollars in grant money to small business owners as of May 2024. Many of these are family run businesses which increase the family’s net worth, building financial security for the next generation.
Salvador Enriquez immigrated to Detroit over 25 years ago. He saw a need in the community that he aimed to fill. “There were no Hispanic businesses and I had the idea that I could help our community by establishing a butchery.” His butchery business was a success. He opened three locations but was only able to lease each space. It wasn't until his daughter, Adrianna Hernandez, joined her father and, using the knowledge she gained from the ProsperUs Detroit program, recommended that he consolidate his locations. Motor City Match provided the funds needed to buy his own property, allowing him to become a permanent fixture in his community.
Salvador Enriquez and daughter Adriana Hernandez perform the art of butchery in their shop, Carniceria Guadalajara #2. When he moved his family to Detroit 22 years ago, he recognized a need. “I see that there are no Hispanic businesses and I had the idea that I could help our community a little by establishing a butchery.
Fast forward 24 years and the Guadaljara #2 has become an anchor in Southwest Detroit. In 2016, The City of Detroit awarded the butcher shop a Motor City Match Grant. Adriana, who has worked with her father for 22 years was thrilled when they learned they had won. “When we found out we were selected, we were really happy. We had a family dinner. We were all excited for it.”
Following her father's example, Adriana plans to leave the business to her daughters. “When my kids inherit this, hopefully they'll make it bigger than what it is already.”
Legacy in the Making: Salvador Enriquez and his daughter Adriana Hernandez have turned Carniceria Guadalajara #2 into a cornerstone of Southwest Detroit, nurturing a community through the art of butchery for over two decades.
Celebrating Growth and Tradition: With a Motor City Match Grant and years of dedication, Salvador Enriquez and his daughter Adriana have solidified Carniceria Guadalajara #2 as a beloved fixture in Southwest Detroit, with plans for the future firmly rooted in family.
Esfuerzos en Educación,
Efforts in Education
Spotlight on Scholarship:
Detroit Promise Promotes Wealth
Education is a conduit for generating wealth. The Detroit Promise Scholarship provides last dollar funding to allow Detroit high school graduates to attend college, university or trade school for free. As of 2022, only 16% of Hispanics nationwide had a bachelor’s degree and only 11% of Hispanic Detroiters.
Detroit Promise provides eligible students the opportunity to complete a free college education with this last-dollar scholarship. This enables the graduates not only a chance at higher paying careers, but also allows them to enter the workforce unburdened by school debt. Both factors help to create and increase family wealth.
More than 6,000+ Detroit students have been awarded these scholarships, creating opportunities for college graduates to build and pass along wealth within their families.