The Milwaukee-Waukesha-West Allis metro average credit score for residents of low-income areas ties for the lowest among the 50 largest cities in the United States, according to The Brookings Institution.
The average Milwaukee score of 556 was more than 100 points below the national average score of 662.
"Credit scores are used by lenders to determine if a borrower qualifies for a loan and, if so, the price that they should be charged for that loan," according to the Brookings report, "Borrowing to Get Ahead, and Behind: The Credit Boom and Bust in Lower-Income Markets."
The poorer the score, the higher the cost of credit.
"In this way, credit scores directly affect the access borrowers have to credit-backed assets like houses, educations, and loans, along with durable assets, like cars and appliances," the report said.
There ya go. If you are poor in Milwaukee, you pay more for credit, or maybe you don't use credit, so you don't get a student loan and don't get that education, so you stay poor in Milwaukee.