The Latino community in the United States is not a monolith. Tonantzin Carmona and Noreen M. Sugrue write that this group’s wealth should be examined from all angles—taking into consideration factors such as racial diversity, immigration status, migration timing, geography, generational differences, lived experiences, and how these all correlate with wealth-building.

In a new report, Carmona and Sugrue examine differences in Latino wealth by geographical region, focusing on assets and debt in six states: Illinois, California, Florida, North Carolina, Texas, and New York. In the second part of the report, they share how Latinos from lower-wealth backgrounds describe their lived experiences to illuminate potential policy directions.