This report adds to the growing body of research as it examines economic mobility across 96 U.S. metropolitan areas and the role of place in Americans' prospects of moving up or down the economic ladder. It also offers insight on why and how location matters. Although a host of factors, such as state and local policies and labor market conditions, could influence mobility, this analysis considers one: neighborhood economic segregation, or the degree to which the poor and the wealthy live apart from each other. To begin to answer this question, Pew commissioned original research that, using three longitudinal data sets, measures differences in economic mobility across American metro areas over the last generation and identifies above-average-, average-, and below-average-mobility areas. The analysis then looks at whether metropolitan areas' rates of economic segregation are related to their rates of economic mobility. This report explores key findings from that research, including: (1) Economic mobility varies considerably across U.S. metro areas. Across the United States, mobility outcomes for otherwise similar families differ widely; (2) Some metro areas are more economically segregated than others. U.S. communities vary substantially in the degree to which the neighborhoods of the poor are distinct from the neighborhoods of the rich; (3) Rates of neighborhood economic segregation in U.S. metro areas have increased, suggesting powerful implications for Americans' mobility prospects; and (4) Neighborhood economic segregation is linked to economic mobility. American metro areas with distinct pockets of concentrated wealth and concentrated poverty have lower economic mobility than places in which the wealthy and the poor are more integrated.