What the Data Shows About Average Net Worth by Race
In 2018, the Federal Reserve’s Survey of Consumer Finances reported large differences in average net worth across racial groups in the United States. White households held the highest median and mean net worth, while Black and Hispanic households had significantly lower figures. These gaps reflect long-term differences in income, homeownership, inheritance, and access to credit.
Key Factors Driving Racial Wealth Gaps
Home equity is typically the largest asset for most families, and historical barriers to homeownership and appraisal bias have limited wealth accumulation in many communities. Differences in retirement savings, education costs, and intergenerational transfers also contribute. Labor market disparities, occupational segregation, and wage gaps further affect the ability to save and invest over time.
Where to Find Official Net Worth Data
The most comprehensive source for these figures is the Federal Reserve’s Survey of Consumer Finances, which provides detailed tables by race and ethnicity. The Brookings Institution also publishes analysis of racial wealth gaps using this and other datasets. For the latest updates, visit the Federal Reserve Board’s research page at https://www.federalreserve.gov/econres/scf.htm and the Brookings Institution at https://www.brookings.edu/.
