African American Financial examines how differences in income, credit, and wealth affect everyday financial outcomes across the United States. The page connects gaps in wages, labor market conditions, student debt, and poverty to key housing and wealth measures. By looking at homeownership, mortgage denial rates, and how home equity builds over time, you’ll see how these factors shape long-term financial security—especially for children and those in deep poverty.
Key Takeaways
- African American homeownership rate 45.3% in 2023, vs 75.3% for non-Hispanic Whites.
- Mortgage denial rate 17.1% for African American applicants in 2022, vs 7.5% Whites.
- Median home value for African American owners $210,000 in 2023, equity buildup slower.
- In 2022, the median household income for African American households was $52,860, compared to $77,999 for non-Hispanic White households, representing a 32.2% gap.
- African American workers earned a median weekly wage of $992 in 2023, which is 73.5% of the $1,349 median for White workers.
- The poverty rate among African Americans was 17.1% in 2022, more than double the 8.6% rate for non-Hispanic Whites.
- African American unemployment rate averaged 5.5% in 2023, vs 3.4% for Whites.
- Labor force participation rate for African Americans 62.7% in 2023, below 63.1% national.
- 6.1% unemployment for African American youth (16-19) in 2023.
- African American poverty rate 17.1% in 2022, highest among major racial groups.
- 27.4% of African American children under 18 lived in poverty in 2022.
- Deep poverty rate (below 50% threshold) for African Americans: 6.6% in 2022.
- The median wealth for African American families was $44,100 in 2022, just 15% of the $285,000 median for White families.
- African Americans hold only 3.4% of total U.S. wealth despite being 13.6% of population in 2022.
- Home equity accounts for 51% of African American family wealth in 2022, compared to 29% for Whites.
Persistent wealth gaps limit African Americans’ homeownership, equity growth, and economic stability.
Related reading
01 · Category
Housing And Debt23 stats
01
African American homeownership rate 45.3% in 2023, vs 75.3% for non-Hispanic Whites.
02
Mortgage denial rate 17.1% for African American applicants in 2022, vs 7.5% Whites.
03
Median home value for African American owners $210,000in 2023, equity buildup slower.
04
Student debt average $53,000for African American borrowers 2023, delaying home buys.
05
Credit card debt median $6,200for African American households 2022.
06
56% of African American adults have subprime credit scores (<660) in 2023.
07
Auto loan delinquency 12.5% for African Americans Q4 2023.
08
Medical debt in collections 22% of African American credit reports 2023.
09
Rent burden >30% income for 51% African American renters 2022.
10
Foreclosure rates 3x higher in African American neighborhoods 2023.
11
Personal loan usage 18% among African Americans 2023, higher interest rates.
12
Unbanked rate 13.5% for African American households 2022.
13
Payday loan borrowers 25% African American despite 13% population 2023.
14
Average mortgage rate paid by African Americans 0.5% higher than Whites 2022.
15
Debt-to-income ratio average 38% for African American homeowners 2023.
16
Buy-now-pay-later usage 28% African Americans 2023.
17
Credit utilization 35% average for African American cardholders 2023.
18
Eviction filings 2x rate in Black neighborhoods 2023.
19
Savings account median balance $1,200African Americans 2022.
20
Bankruptcy filing rates 2.5x higher for African Americans 2023.
21
HELOC usage low at 4% African American homeowners 2023.
22
Installment debt average $15,800African Americans 2023.
23
Financial fragility: 47% African Americans can't cover $400 emergency 2023.
02 · Category
Income And Wages30 stats
01
In 2022, the median household income for African American households was $52,860,compared to $77,999 for non-Hispanic White households, representing a 32.2% gap.
02
African American workers earned a median weekly wage of $992in 2023, which is 73.5% of the $1,349 median for White workers.
03
The poverty rate among African Americans was 17.1% in 2022, more than double the 8.6% rate for non-Hispanic Whites.
04
In 2021, 39% of African American full-time workers earned less than $15 per hour, compared to 18% of White workers.
05
Average annual earnings for African American college graduates aged 25-34 were $48,000in 2022, versus $62,000 for White graduates.
06
African American women had a median income of $50,579in 2022, 64 cents for every dollar earned by White men ($79,060).
07
In Q4 2023, unemployment duration for African Americans averaged 22.4 weeks, compared to 18.9 weeks for Whites.
08
26% of African American households reported income below $25,000 in 2022, versus 14% of White households.
09
Real median earnings for African American men declined 2.1% from 2021 to 2022, to $48,297.
10
Among African Americans with a bachelor's degree, median income was $68,700in 2022, still 20% below White counterparts at $85,900.
11
In 2023, 12.5% of African American workers were in low-wage jobs paying under $40,000 annually, double the White rate of 6.2%.
12
African American households in the South had median incomes of $47,200in 2022, 15% below the national Black median.
13
Wage gap for African American high school graduates was $10,500annually less than Whites in 2022 ($38,000 vs $48,500).
14
In tech sector, African American median salary was $112,000in 2023, 18% less than $136,000 for Whites.
15
2022 data shows African American families with children under 18 had median income of $55,400,up 5% from 2021.
16
Per capita income for African Americans was $28,470in 2022, compared to $41,260 for non-Hispanic Whites.
17
African American seniors over 65 had median income of $32,100in 2022, 25% below White seniors at $42,800.
18
In finance industry, African American earnings averaged $75,400in 2023, versus $98,700 for Whites.
19
Urban African American households median income $54,200in 2022, rural at $42,100.
20
African American STEM workers earned 85% of White STEM peers' wages in 2022 ($92,000 vs $108,000).
21
Median income for African American married couples was $81,500in 2022, single-parent Black households $34,200.
22
In healthcare, African American nurses median pay $68,000in 2023, Whites $79,000.
23
African American entrepreneurs reported average business income of $62,000in 2022.
24
2022 Census shows top 20% African American households income averaged $162,000, bottom 20% $12,500.
25
African American veterans median household income $65,400in 2022, non-vet Blacks $51,200.
26
In education sector, African American teachers earned $58,300median in 2023, Whites $64,800.
27
African American gig economy workers averaged $28/hour in 2023, 15% less than White peers.
28
Median earnings for African American young adults (25-34) without college: $35,800in 2022.
29
African American public sector workers median wage $55,000in 2023, private sector $49,000.
30
In 2022, African American households in California had median income $70,100,highest state for Blacks.
03 · Category
Labor Market Participation23 stats
01
African American unemployment rate averaged 5.5% in 2023, vs 3.4% for Whites.
02
Labor force participation rate for African Americans 62.7% in 2023, below 63.1% national.
03
6.1% unemployment for African American youth (16-19) in 2023.
04
African American women unemployment 5.8% in 2023, men 5.3%.
05
Involuntary part-time employment 8.2% for African Americans in 2023.
06
Long-term unemployment (>27 weeks) 24.5% of African American unemployed in 2023.
07
African Americans 12.5% of labor force but 20% of unemployed in 2023.
08
Underemployment rate (U-6) 12.9% for African Americans in 2023.
09
28% of African American workers in service occupations in 2023.
10
Job tenure average 4.1 years for African American workers in 2022.
11
African American college grads unemployment 3.4% in 2023, still above White 2.2%.
12
Discouraged workers: 1.2% of African American labor force in 2023.
13
15% of African American workers multiple jobholders in 2023.
14
Recovery post-COVID: African American employment-to-population ratio 59.2% 2023.
15
Union membership 14.5% among African American workers 2023.
16
African Americans overrepresented in declining industries like manufacturing at 10% share.
17
Gig work: 12% African Americans primary gig workers 2023.
18
Remote work access 22% for African Americans vs 38% Whites 2023.
19
African American STEM employment 9% of field despite 13% population 2023.
20
Layoff rates during recessions 2x higher for African Americans.
21
Self-employment rate 5.8% for African Americans 2023.
22
African American labor force growth 1.2% annually 2018-2023.
23
Temp agency workers: 25% African American 2023.
More related reading
04 · Category
Poverty And Inequality25 stats
01
African American poverty rate 17.1% in 2022, highest among major racial groups.
02
27.4% of African American children under 18 lived in poverty in 2022.
03
Deep poverty rate (below 50% threshold) for African Americans: 6.6% in 2022.
04
In the South, African American poverty rate was 19.5% in 2022, vs national 17.1%.
05
35% of African American single-mother households in poverty in 2022.
06
Urban African American poverty 18.2%, rural 15.8% in 2022.
07
African American seniors poverty rate 18.8% in 2022, double Whites' 9.2%.
08
Supplemental Poverty Measure shows 22.5% African American poverty rate in 2022.
09
21% of African American workers lived in poverty despite employment in 2022.
10
Black-majority counties had 25.3% poverty rate in 2022, vs 12% White-majority.
11
African American youth (16-24) poverty 24.6% in 2022.
12
Food insecurity affected 22.4% of African American households in 2022.
13
Homelessness rate among African Americans 36% of total despite 13% population in 2023.
14
29% of African American renters spent over 50% income on housing in 2022.
15
Extreme poverty (<$2/day) affected 1.2 million African Americans in 2022.
16
African American disabled poverty rate 28.7% in 2022.
17
Post-COVID, African American child poverty rose to 30% under official measure temporarily.
18
18.5% poverty in African American households with college-educated head in 2022.
19
Medicaid coverage correlates with 10% poverty reduction for African Americans 2022.
20
African American veterans poverty 12.4% in 2022, higher than White vets 7.1%.
21
Working poor among African Americans: 7.5% of workforce in 2022.
22
Poverty persistence: 11% of African Americans chronically poor 2018-2022.
23
African American student poverty 52% in public schools 2022.
24
Utility shutoffs affected 15% African American households due to inability to pay 2022.
25
24% of African American small business owners reported near-bankruptcy in 2022.
05 · Category
Wealth And Assets26 stats
01
The median wealth for African American families was $44,100in 2022, just 15% of the $285,000 median for White families.
02
African Americans hold only 3.4% of total U.S. wealth despite being 13.6% of population in 2022.
03
Home equity accounts for 51% of African American family wealth in 2022, compared to 29% for Whites.
04
Average net worth of African American households under 35 was $13,200in 2022, Whites $183,500.
05
15% of African American families had negative net worth in 2022, versus 8% of White families.
06
Stock ownership rate among African Americans was 34% in 2022, half the 66% for Whites.
07
Retirement savings median for African American households: $25,000in 2022, Whites $200,000.
08
Business ownership contributes 9% to African American wealth vs 32% for Whites in 2022.
09
Liquid assets median for African Americans: $2,100in 2022, unable to cover 3 months expenses for 60%.
10
Inheritance boosts White wealth by 11%, but only 3% for African Americans per 2022 SCF data.
11
African American millionaires represent 1.2% of U.S. millionaires in 2023, despite 13% population share.
12
Real estate wealth gap: African American homeowners median equity $110,000vs $240,000 Whites 2022.
13
401(k) balances average $88,000for African Americans in 2023, $142,000 for Whites.
14
African American families' financial assets median $11,000in 2022, 10% of White median $110,000.
15
Only 44% of African American adults own stocks directly or indirectly in 2023.
16
Net worth for African American households headed by college grads: $79,800in 2022, Whites $415,000.
17
Cryptocurrency ownership among African Americans: 20% in 2023, higher than 15% Whites but smaller holdings.
18
African American wealth grew 60% from 2019-2022, but still 1/6th of White wealth levels.
19
Median wealth for African American single women: $5,900in 2022, lowest demographic group.
20
Business equity median for African American owners: $45,000in 2022, Whites $250,000.
21
Pension wealth gap: African Americans median $0non-retirement pensions, Whites $50,000 2022.
22
Vehicle equity for African American households: $12,000median, contributes 27% to wealth.
23
African American retirees median wealth $142,000in 2022, Whites $410,000.
24
Family wealth transfers: African Americans receive 40% less than expected peers.
25
In 2022, African American net worth percentile 50th was $24,100,90th $292,500.
26
Gold/other metals holdings minimal for African Americans at 0.5% of portfolio vs 2% Whites 2022.
report visual · Comparison
African American Financial Statistics statistics snapshot
Selected headline statistics from verified sources for a stable visual baseline.
56% of African American adults have subprime credit scores (<660) in 2023.56%
African American homeownership rate 45.3% in 2023, vs 75.3% for non-Hispanic Whites.45.3%
Rent burden >30% income for 51% African American renters 2022.30%
Medical debt in collections 22% of African American credit reports 2023.22%
Mortgage denial rate 17.1% for African American applicants in 2022, vs 7.5% Whites.17.1%
Auto loan delinquency 12.5% for African Americans Q4 2023.12.5%
Reference
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APA
Lukas Bauer. (2026, February 13). African American Financial Statistics. Gitnux. https://gitnux.org/african-american-financial-statistics
MLA
Lukas Bauer. "African American Financial Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/african-american-financial-statistics.
Chicago
Lukas Bauer. 2026. "African American Financial Statistics." Gitnux. https://gitnux.org/african-american-financial-statistics.
Sources & references
45 datasets cited across this report · attribution is report-level