Latinos are making their mark in Houston and across the nation economically, according to the latest Metro Latino GDP Report.
We’re breaking down the Metro Latino GDP Report by the numbers.
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2.8 million - As of 2021, the Houston metro area is the second largest metropolitan statistical area in Texas. It’s also the fourth largest MSA in the nation by Latino population.
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“The Houston - The Woodlands - Sugar Land metropolitan statistical area is comprised of nine counties along the gulf coast and covers nearly 10,062 miles in southeastern Texas. In 2021, the Houston metro area was home to 7.2 million people of all ethnicities, making it the second largest MSA in Texas and the fifth largest MSA in the nation, slightly larger than both the Washington D.C. and Miami metro areas,” the report notes.
$581 billion - The Texas Latino GDP for 2021 matches the economic output of Michigan.
2.7 times - The Texas Latino GDP grew 2.7 times faster than the Non-Latino GDP from 2018 to 2021.
28.7 percent - Texas’ Latino population saw a growth of 28.7 percent from 2010 to 2021, compared to 12.9 percent for non-Latinos.
“From 2018 to 2021, Latino GDP grew seven times faster than Non-Latino GDP in the Houston Metro area,” the report notes.
37 percent - Latino homeownership in Texas saw a remarkable increase of 37 percent, outpacing non-Latino homeownership.
68.3 percent - Despite comprising only 38.5 percent of Houston’s population, Latinos contributed to 68.3 percent of the city’s GDP growth during the same period.
2.9 - The number of Latinos with bachelor’s degrees grew at a rate 2.9 times higher than non-Latinos from 2010 to 2021.
38.5 percent - Latinos are 38.5 percent of the Houston metro area population.
45.2 percent - The Houston Metro Area saw a 45.2 percent increase in Latino households from 2010 to 2021.
“As with the larger geographies, Latinos provide a large and positive demographic punch in the Houston Metro area through both the addition of workers and the formation of households,” the report notes.
$92.6 billion - In 2021, Latinos in the Houston Metro area spent $92.6 billion - surpassing the entire economy of West Virginia. Overall, Latinos in the U.S. consumed $2.14 trillion.
7 times more - From 2018 to 2021, Latino GDP grew 7 times more rapidly than non-Latinos in the Houston metro area.
“While impressive for its size, the Houston Metro Latino GDP is even more noteworthy for its extraordinary growth,” the report says.
1.94 percent - During those years, the Houston metro Latino GDP grew at an average annual rate of 1.94 percent compared to 0.27 percent for non-Latinos.
47 million - In 2021, 76 percent of the country’s Latino population lived within just ten states. In that year, Arizona, California, Colorado, Florida, Georgia, Illinois, New Jersey, New York, Pennsylvania and Texas were collectively home to over 47 million Latinos.
“Seeing the dramatic economic impact of Latinos living in the Houston metro area and the state of Texas more broadly, one might be misled to think that this extraordinary impact must be concentrated within a narrow geographic region. In fact, the Houston metro area and the state of Texas are merely examples of a nationwide phenomenon,” the report states.
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1.2 million - The report found the largest states by Latino population in many instances are adding the largest numbers of Latinos on an annual basis. From 2015 to 2021, Texas, Florida, California, and Arizona had the fastest-growing Latino populations. From 2015 to 2021, Texas added nearly 1.2 million Latinos.