This report examines the changing nature of segregation and integration in a society that has now become far more profoundly multiracial than it was in the past and explores some of the connections between segregation by race, segregation by poverty, and unequal opportunity. It has several basic goals--to help people understand some of the mechanisms of educational inequality by looking at segregation of schools and students by poverty, discussing the massive research literature showing the ways in which high poverty schools are systematically unequal, and then exploring the racial consequences of the fact that concentrated poverty schools have a vastly larger impact on black and Latino students than on their white and Asian counterparts. Another basic goal of the paper is to show how different relationships between race and poverty in differing parts of a nation in rapid demographic transition challenge the traditional black-white description of segregation. Unlike earlier studies, this one gives central attention to the issue of segregation by poverty and shows how it relates to racial inequality. (Contains 28 tables and 64 endnotes.)