What Is the Median Net Worth of a Black Family
The median net worth of a Black family is about $11,000, according to the Federal Reserve's Survey of Consumer Finances. Median net worth means the midpoint where half of families have more and half have less. This figure highlights the persistent racial wealth gap in the United States.
Why the Gap Exists
Lower homeownership rates, unequal access to credit, and historical discrimination contribute to the gap. Black families are less likely to receive inheritances or large financial gifts that build assets over time. These structural factors make it harder to accumulate wealth across generations.
How the Figure Is Measured
Net worth is calculated by subtracting total liabilities from total assets, including savings, retirement accounts, and property. The Federal Reserve collects this data every three years. Because the median is used, it reflects the typical family rather than averages skewed by high-net-worth households.
Comparing the Racial Wealth Gap
The median white family holds significantly higher net worth than the median Black family. This difference persists even when income and education levels are similar. For more details, visit the Federal Reserve Board's Survey of Consumer Finances at https://www.federalreserve.gov/econres/scf.htm
