Imagine a world where for every dollar of wealth a White family builds, a Black family holds just thirteen cents—this isn't a hypothetical, but the staggering reality captured in recent data that exposes the deep and persistent racial wealth gap in America.
Key Takeaways
- In 2019, the median wealth for Black households in the United States was $24,100, compared to $188,200 for White households, representing a 12.7% ratio of Black to White median wealth.
- Black families hold just 13 cents for every dollar of wealth held by White families as of 2022 data from the Survey of Consumer Finances.
- The average wealth gap between Black and White households widened to $1.33 million in 2022, up from previous years.
- Median household income for Black families in 2022 was $52,860, 65% of White median $81,060.
- Black median income rose 5.6% from 2021 to 2022, but still trails White by $28,200.
- In 2019, Black households in top quintile earned median $175,000 vs overall $48,300.
- Black homeownership rate was 44.1% in 2022, compared to 73.6% for White non-Hispanic households.
- Black homeownership gap widened to 29.5 points in 2022 from 27 in 2019.
- Under 35, Black homeownership 23% vs White 49% in 2022.
- Black stock ownership rate 34% of households in 2022, vs 66% White.
- Black median retirement savings $13,000 vs White $80,000 age 45-54, 2022.
- Only 25% of Black families have stock market investments, 2021 Fed data.
- Black poverty rate 17.1% in 2022, twice the White rate of 8.6%.
- Black child poverty 27% vs White 9% in 2022.
- Black student debt median $52,000 vs White $28,000 for borrowers 2022.
Black wealth remains starkly low compared to White wealth despite recent growth.
Homeownership Rates
- Black homeownership rate was 44.1% in 2022, compared to 73.6% for White non-Hispanic households.
- Black homeownership gap widened to 29.5 points in 2022 from 27 in 2019.
- Under 35, Black homeownership 23% vs White 49% in 2022.
- Black married couples 55% ownership vs single Black women 40% in 2022.
- Southern Black homeownership highest at 48%, Northeast lowest 38% 2022.
- Black college grads homeownership 52% vs 42% no college, 2022.
- Atlanta metro Black ownership 51%, highest among large metros 2022.
- Black first-time buyers 28% of Black purchases, lower than White 40% 2022.
- From 2004-2022, Black ownership rose from 46.1% to 44.1%, net decline post-housing crisis.
- Black suburban ownership 45% vs urban 42% in 2022.
- 65+ Black seniors 52% homeowners, higher due to tenure.
- Black immigrant ownership 40% vs U.S.-born Black 45% 2022.
- Pandemic boosted Black ownership by 2 points 2020-2021 before dip.
- Black households with income >$100k ownership 70%, near White levels.
- Rural Black ownership 48% vs urban 41% 2022.
- Black veteran households 60% ownership, boosted by VA loans.
- By state, Maryland Black ownership 52% highest, D.C. 41% lowest 2022.
- Black millennials ownership 37% lagging Gen X 48% at same age.
- FHA loans 35% of Black purchases vs 10% White, 2022.
- Black ownership with mortgage 30% vs owned outright 14%, 2022.
- Post-2020, Black denial rates for mortgages 18% vs White 7%.
Homeownership Rates Interpretation
For the Black community, achieving the American Dream of homeownership often feels less like a race and more like an obstacle course rigged with historical hurdles, discriminatory lending, and economic traps, where even crossing the finish line can mean starting miles behind others.
Household Net Worth
- In 2019, the median wealth for Black households in the United States was $24,100, compared to $188,200 for White households, representing a 12.7% ratio of Black to White median wealth.
- Black families hold just 13 cents for every dollar of wealth held by White families as of 2022 data from the Survey of Consumer Finances.
- The average wealth gap between Black and White households widened to $1.33 million in 2022, up from previous years.
- In 1989, median Black household net worth was $15,100 (in 2019 dollars), rising to $24,100 by 2019, a 59% increase.
- Bottom 50% of Black wealth distribution holds only 1.9% of total Black wealth in 2019.
- Black households' mean net worth was $142,500 in 2019, 16% of White households' $895,000.
- By age 35-44, median Black net worth is $35,000 vs $135,000 for Whites in 2019 SCF data.
- Black wealth percentile 90th holds $500,000 median, vs $2.5 million for Whites in 2022.
- Post-Great Recession, Black household wealth fell 53% from 2007 peak of $16,600 median.
- In 2022, Black households in top income quintile have median wealth of $280,000, still below White median overall.
- Black net worth grew 60% from 2016-2019, from $17,150 to $24,100 median.
- Regional disparity: Black median wealth in Northeast $45,000 vs South $12,000 in 2019.
- Married Black couples median net worth $55,000 vs single $5,000 in 2019 SCF.
- Black households with college degree median wealth $52,000 vs $28,000 no degree, 2019.
- From 1998-2019, Black wealth at 90th percentile grew 28%, slower than other groups.
- Black immigrant households median wealth $36,000 vs $22,000 U.S.-born Black in 2019.
- In 2022 SCF, Black mean wealth $211,400 vs White $1,406,000.
- Black households under 35 median net worth $4,000 in 2019.
- Wealth ratio Black to White improved slightly to 15.4% mean in 2022 from 12% in 2019.
- Black wealth concentration: top 10% hold 76% of Black wealth in 2019.
- Post-COVID, Black wealth rebounded 39% from 2019-2022 median.
- Black female-headed households median wealth $2,200 in 2019.
- By metro area, Black median wealth highest in D.C. at $62,000, lowest in Miami $8,000, 2019.
- Black households with retirement accounts median wealth $45,000 higher, 2019 SCF.
- Historical: Black median wealth 1960s era equivalent to $10,000 in today's dollars.
- 2022 Black wealth growth 16% nominal, but inflation-adjusted stagnant.
- Black households 75-84 age group median $90,000 net worth, 2019.
- Gap in liquid assets: Black median $1,500 vs White $23,400, 2019.
- Black wealth volatility higher, dropped 34% 2007-2010 vs White 17%.
- In 2019, 15% of Black households had negative net worth, vs 8% White.
Household Net Worth Interpretation
After decades of supposed progress, the American wealth landscape remains a tale of two economies: one where even a Black family at the peak of its income bracket is routinely lapped by the average White family, proving that the racial finish line is not just moved but hidden behind generations of compounded advantage.
Income Disparities
- Median household income for Black families in 2022 was $52,860, 65% of White median $81,060.
- Black median income rose 5.6% from 2021 to 2022, but still trails White by $28,200.
- In 2019, Black households in top quintile earned median $175,000 vs overall $48,300.
- Real median Black income fell 9% from 2000 peak of $58,000 (adj.) to 2022.
- By education, Black college grads median income $68,000 vs HS $32,000 in 2022.
- Black male median earnings $45,000 full-time vs White male $62,000, 2022 CPS.
- Black women median income $48,000, 64% of White men $75,000 in 2022.
- South region Black median income $48,000 lowest, Northeast $60,000 highest 2022.
- Black household income Gini coefficient 0.48 vs White 0.41 in 2022.
- From 2019-2022, Black income grew 14% nominally amid pandemic stimulus.
- Black youth 16-24 median income $22,000 vs White $28,000 in 2022.
- Married Black couples median $75,000 income vs single mothers $28,000, 2022.
- Black STEM workers median $85,000 vs overall Black $45,000 in 2021.
- Inflation-adjusted Black income stagnant since 2007 peak.
- Black entrepreneurs median business income $50,000 vs White $90,000, 2022.
- By metro, Black median income highest Atlanta $55,000, lowest Detroit $42,000 2022.
- Black income share of total U.S. income 13.6% despite 14.4% population, 2022.
- Post-tax Black median income $45,000 vs White $68,000 after transfers 2022.
- Black 65+ median income $42,000 from Social Security dominant source.
- Gap narrowed slightly: Black income 73% of White in 2022 vs 67% in 2010.
- Black union members median $60,000 vs non-union $40,000, 2022 BLS.
- Pandemic: Black income volatility higher, dropped 10% 2020 then rebounded.
- Black median weekly earnings $900 vs White $1,100 full-time 2023 Q1.
- By industry, Black in healthcare median $55,000 highest, retail $35,000 lowest.
- Black household income peaked 2022 at $52,860, first time above $50k real terms since 2000.
Income Disparities Interpretation
The statistics paint a picture of a Black median income that, despite its recent nominal record, is still playing a decades-long game of catch-up with its White counterpart, where every step forward seems to be matched by the finish line moving a step further away.
Investment and Savings
- Black stock ownership rate 34% of households in 2022, vs 66% White.
- Black median retirement savings $13,000 vs White $80,000 age 45-54, 2022.
- Only 25% of Black families have stock market investments, 2021 Fed data.
- Black 401(k) participation 52% vs White 68% among eligible workers 2022.
- Black median checking account balance $2,500 vs White $8,000, 2022 SCF.
- Emergency savings: 44% Black can't cover 3 months expenses vs 25% White.
- Black bond ownership 5% of households vs White 15% 2022.
- Median Black IRA balance $25,000 vs White $150,000 under 50s, 2022.
- Black crypto ownership 20% vs White 16%, but smaller amounts 2023.
- Savings rate Black households 4.1% of income vs White 7.2% 2022.
- Black real estate investment outside primary home 12% ownership.
- Black college savings (529 plans) participation 10% vs White 25%.
- Median Black business equity $45,000 for owners vs White $200,000.
- Black pension coverage 32% vs White 45% retirees 2022.
- High-yield savings adoption 15% Black vs 28% White households.
- Black median liquid assets $5,000 vs White $40,000 2019 SCF.
- Robo-advisor usage 8% Black investors vs 20% White.
- Black ESOP participation 3% vs White 7% workers.
- Median Black CD/Treasury holdings $10,000 vs White $50,000.
- Black family median inheritance received $0 vs White $50,000 lifetime.
- Black savings in employer plans average $35,000 vs White $120,000.
Investment and Savings Interpretation
The wealth gap is a meticulously designed obstacle course where Black Americans are expected to run a marathon while being handed a shoelace and a map to a payday lender.
Poverty and Debt Levels
- Black poverty rate 17.1% in 2022, twice the White rate of 8.6%.
- Black child poverty 27% vs White 9% in 2022.
- Black student debt median $52,000 vs White $28,000 for borrowers 2022.
- 56% of Black households unbanked or underbanked vs 28% White 2021.
- Black median credit card debt $6,200 vs White $7,100 but higher utilization 2022.
- Black medical debt affects 23% households vs 14% White.
- Black extreme poverty (<50% threshold) 5.5% vs 1.8% White 2022.
- Black auto loan delinquency 12% vs White 6% Q4 2022.
- Supplemental Poverty Measure Black rate 18.8% vs White 7.3% 2022.
- Black households 28% have debt-to-income >40% vs 18% White.
- Black payday loan usage 10% annually vs 4% White.
- Black persistent poverty counties 20% of Black population vs 2% White.
- Median Black mortgage debt $180,000 with lower home equity ratio.
- Black bankruptcy filing rate 3.5 per 1,000 vs White 1.5, 2022.
- Food insecurity Black 22% vs White 10% households 2022.
- Black personal loan debt median $14,000 higher delinquency.
- 35% Black adults have past-due bills vs 20% White 2023.
- Black working poor 9% of workforce vs White 5%.
- Black single mother poverty 33% vs married couples 8%.
- Buy-now-pay-later usage 25% Black vs 15% White, debt trap risk.
Poverty and Debt Levels Interpretation
The statistics paint a relentlessly compounding portrait where Black Americans start the race from a deep deficit, are charged more for every financial mile, and are then penalized for showing the strain.
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