Racial wealth gap statistics measure differences in household or family assets after debts are subtracted. Federal Reserve Survey of Consumer Finances estimates show large differences in median and mean net worth across racial and ethnic groups, alongside differences in homeownership, retirement-account ownership, inheritances, and emergency support. The figures below identify the survey year and dollar basis because the 2019 and 2022 estimates are not expressed in the same dollars.
Contents
- Latest net worth estimates
- Changes across survey years
- Wealth across the life cycle
- Homeownership and housing values
- Retirement accounts
- Inheritance and family support
Latest net worth estimates
The Federal Reserve’s Changes in U.S. Family Finances from 2019 to 2022: Evidence from the Survey of Consumer Finances reports family net worth as assets minus liabilities. Its 2022 estimates are inflation-adjusted to 2022 dollars. These are family-level survey estimates, and racial and ethnic groups are based on respondent self-identification.
Median net worth describes the family in the middle of the distribution, while mean net worth is an average that can be strongly affected by families with very high wealth. In the 2022 survey, median net worth was $285,000 for White non-Hispanic families, $44,900 for Black or African American non-Hispanic families, and $61,600 for Hispanic or Latino families. Families identifying as other or multiple race had median net worth of $132,900, while Asian families had median net worth of $536,000. Federal Reserve, Changes in U.S. Family Finances from 2019 to 2022
The 2022 mean figures were higher than the medians in every listed group: $1.3672 million for White non-Hispanic families, $211,500 for Black or African American non-Hispanic families, $227,500 for Hispanic or Latino families, $849,800 for other or multiple-race families, and $1.8269 million for Asian families. The gap between a group’s mean and median is a reminder that averages and typical-family outcomes answer different questions.
| Family group | 2022 median net worth | 2022 mean net worth |
|---|---|---|
| White non-Hispanic | $285,000 | $1.3672 million |
| Black or African American non-Hispanic | $44,900 | $211,500 |
| Hispanic or Latino | $61,600 | $227,500 |
| Other or multiple race | $132,900 | $849,800 |
| Asian | $536,000 | $1.8269 million |
The “other or multiple race” category is heterogeneous, so its estimate should not be treated as a single uniform experience. The statistics are descriptive survey estimates, not forecasts or personal financial advice.
Changes across survey years
Between the 2019 and 2022 surveys, median net worth rose 31 percent for White non-Hispanic families, reaching $285,000 in 2022 dollars. It rose 60 percent for Black non-Hispanic families, reaching $44,900, and 47 percent for Hispanic or Latino families, reaching $61,600. Mean net worth for Black non-Hispanic families rose 28 percent over the same period, reaching $211,500. Federal Reserve, Changes in U.S. Family Finances from 2019 to 2022
The percentage changes do not mean that the underlying levels became equal. A larger percentage increase from a lower starting point can coexist with a large remaining dollar difference. The 2022 comparisons also use 2022 dollars, so they should be read within that survey’s inflation-adjusted presentation.
The Federal Reserve’s 2019 analysis gives a separate historical snapshot in 2019 dollars. In that survey, median wealth was $188,200 for White families, $24,100 for Black families, and $36,100 for Hispanic families. Mean wealth was $983,400 for White families, $142,500 for Black families, and $165,500 for Hispanic families. Federal Reserve, Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
Within that 2019 analysis, the White–Black median-wealth gap was $164,100, compared with $163,700 in 2016. The White–Hispanic median-wealth gap was $152,100 in 2019, down from $160,000 in 2016. From 2016 to 2019, median wealth increased 33 percent for Black families and 65 percent for Hispanic families.
Over the longer 2007–2019 period, median wealth fell 11 percent for White families and 7 percent for Black families, while it rose about 39 percent for Hispanic families. These historical figures use the periods and dollar presentation reported in the Federal Reserve note; they should not be treated as a forecast of later changes.
Wealth across the life cycle
The 2019 Survey of Consumer Finances also shows that racial wealth differences appear among younger families and persist across older age groups. Among families under age 35, median wealth was $25,400 for White families, $600 for Black families, $11,200 for Hispanic families, and $13,500 for other families.
Among families ages 35–54, median wealth was $185,000 for White families, $40,100 for Black families, $46,100 for Hispanic families, and $154,500 for other families. Among families over age 55, median wealth was $315,000 for White families, $53,800 for Black families, $111,500 for Hispanic families, and $213,200 for other families. Federal Reserve, Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
| Family age | White median | Black median | Hispanic median | Other median |
|---|---|---|---|---|
| Under 35 | $25,400 | $600 | $11,200 | $13,500 |
| 35–54 | $185,000 | $40,100 | $46,100 | $154,500 |
| Over 55 | $315,000 | $53,800 | $111,500 | $213,200 |
These age bands describe medians within each group, not the wealth path of a particular person. They also do not identify the causes of each observed difference. They show how the measured distribution varied by race, ethnicity, and age in the 2019 survey.
Homeownership and housing values
Housing is one part of the balance sheet captured in wealth statistics. Among young families in the 2019 survey, about 46 percent of White families owned a home, compared with about 17 percent of Black families. Among middle-aged families, 73 percent of White families owned a home and about 51 percent of Black families owned a home.
Among homeowners, the typical home value was $230,000 for White families, $150,000 for Black families, and $200,000 for Hispanic families in 2019. These are values among homeowners, not the value of homes averaged across every family. Federal Reserve, Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
The homeownership rates and home values are related but distinct measures. A home-value comparison among homeowners does not account for the different shares of families who own homes. Conversely, an ownership-rate comparison does not show how much equity a family has after mortgage debt. The Federal Reserve’s net-worth measure incorporates assets and liabilities, while these housing figures isolate selected housing indicators.
Retirement accounts
Retirement assets are another component of household financial resources. Among middle-aged families in 2019, 65 percent of White families held at least one retirement account, compared with 44 percent of Black families and 28 percent of Hispanic families. Federal Reserve, Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
These percentages measure whether a family held at least one retirement account. They do not give the balance in those accounts, the contribution history, or the eventual retirement income. A holding-rate difference therefore does not by itself quantify the full retirement-wealth gap, but it identifies one measured difference in asset ownership.
The Federal Reserve’s net-worth estimates and the retirement-account percentages also have different scopes. Net worth combines assets and liabilities across the family balance sheet; retirement-account ownership is a specific indicator for middle-aged families in the 2019 survey.
Inheritance and family support
The 2019 survey recorded differences in both received family transfers and expected inheritances. In 2019, 29.9 percent of White families reported having received an inheritance or gift, compared with 10.1 percent of Black families, 7.2 percent of Hispanic families, and 17.8 percent of other families.
Among families that received an inheritance or gift, the conditional median was $88,500 for White families, $85,800 for Black families, and $52,200 for Hispanic families. Because these medians are conditional, they describe families who reported receiving a transfer; they are not the median transfer across all families. Federal Reserve, Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
Expectations also differed. In 2019, 17.1 percent of White families expected to receive an inheritance, compared with 6.0 percent of Black families. An expectation is not a receipt and does not establish that a future transfer will occur.
Family support can also be measured through access to emergency funds. In 2019, 71.9 percent of White families said they could obtain $3,000 from family or friends in a financial emergency. This figure describes reported access for White families; the cited statistics do not provide a corresponding percentage for every group in this set. It should therefore not be extended to other racial or ethnic groups.
Across these measures, the survey distinguishes wealth already held, transfers already received, anticipated inheritances, and emergency support. Keeping those definitions separate helps readers interpret racial wealth gap statistics without treating different forms of financial capacity as interchangeable.
The Federal Reserve estimates above use the Survey of Consumer Finances. The 2022 dollar estimates are inflation-adjusted to 2022 dollars, while the cited 2019 Federal Reserve note reports dollar values in 2019 dollars. The groups reflect respondent self-identification, and the other-or-multiple-race category includes varied households. These limitations are important when comparing years, categories, and measures.