City of Pittsburgh Data
Mayor Bill Peduto presides over a city of 300,000 people, 71,000 of whom are African American (23.7%). Over the last decade (2010 to 2020), Pittsburgh’s African American population declined by more than 8,500—that’s 11% fewer Black residents.
Meanwhile, between 2007 and 2020, more than 900 financial institutions approved $11.8 billion dollars in home mortgage loans in Pittsburgh neighborhoods, but the lending was distributed unevenly. Financial institutions approved $11 billion of all loan dollars (93.2%) in the city’s 54 non minority neighborhoods, but only approved $807 million (6.8%) in minority communities.
Lenders approved just 3.5% of all loan dollars in Pittsburgh to African Americans in thirteen years. There were 551 financial institutions which did not make one loan to an African American in 13 years.
Financial institutions approved $11 billion of all loan dollars (93.2%) in the city’s 54 non minority neighborhoods, but only approved $807 million (6.8%) in minority communities.
On the public side, the funding picture was far different. In ten years, 2010 to 2020, only $3.4 billion was allocated to Pittsburgh , a fraction of the bank investment in the city. In the city’s minority neighborhoods, 55% of all investment was public; whereas, in the city’s non minority neighborhoods, just 8% of investment came from public sources.
Over the past decade, the city attracted $3.4 billion in investment, but most of it went to minority neighborhoods, while the wealth-building private dollars went to non-minority communities.