CFED Assets & Opportunity Scorecard
Net Worth by Race
Definition
Ratio of the median net worth of white, non-Hispanic households to households of color (Black or African-American; Asian; Hispanic or Latino; other races), 2010.
Calculated by dividing the higher value by the lower value, i.e., the net worth of white households divided by households of color.
A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the median net worth of white households in California is 10 times higher than for households of color.
Data are point estimates produced from a national survey with relatively small samples for some states, which can result in imprecise estimates and ranks. States are not ranked on this measure due to insufficient data at the state level. For more information on how we measured precision and to download margin of error data for each state, see here.
Description
This measure describes how equally assets are distributed between white households and households of color. Due to a variety of factors, including different initial wealth endowments and outright discrimination, households of color tend to accumulate fewer assets than white households. For example, the median net worth of white households in Michigan is $106,000 while the median net worth of households of color is $6,758, indicating that white households hold almost 16 times the wealth of households of color.
Net Worth by Race
| State | Median Net Worth, White Households ($) | Median Net Worth, Households of Color ($) | Ratio |
|---|---|---|---|
| United States | $110,973 | $10,824 | 10.3 |
| Alabama | $88,770 * | — | — |
| Alaska | — | — | — |
| Arizona | $100,405 | — | — |
| Arkansas | $70,265 * | — | — |
| California | $158,015 | $15,850 * | 10.0 |
| Colorado | $125,648 * | — | — |
| Connecticut | $214,301 * | — | — |
| Delaware | — | — | — |
| District of Columbia | — | — | — |
| Florida | $97,050 | — | — |
| Georgia | $81,373 | — | — |
| Hawaii | — | — | — |
| Idaho | $68,570 * | — | — |
| Illinois | $113,190 | — | — |
| Indiana | $80,000 | — | — |
| Iowa | $98,788 | — | — |
| Kansas | $149,205 * | — | — |
| Kentucky | $67,097 * | — | — |
| Louisiana | $111,608 | $20,428 * | 5.5 |
| Maine | $81,448 * | — | — |
| Maryland | $230,254 | — | — |
| Massachusetts | $188,832 | — | — |
| Michigan | $106,000 | $6,758 * | 15.7 |
| Minnesota | $156,817 * | — | — |
| Mississippi | $80,498 | — | — |
| Missouri | $94,953 | — | — |
| Montana | — | — | — |
| Nebraska | $99,450 * | — | — |
| Nevada | — | — | — |
| New Hampshire | $128,378 | — | — |
| New Jersey | $216,356 | — | — |
| New Mexico | $109,284 | — | — |
| New York | $109,300 | — | — |
| North Carolina | $113,827 | — | — |
| North Dakota | $77,614 | — | — |
| Ohio | $83,620 | — | — |
| Oklahoma | $66,435 | $22,292 * | 3.0 |
| Oregon | $110,758 | — | — |
| Pennsylvania | $115,608 | — | — |
| Rhode Island | $140,000 | — | — |
| South Carolina | $138,310 | — | — |
| South Dakota | $122,890 | — | — |
| Tennessee | $109,445 | — | — |
| Texas | $84,200 | — | — |
| Utah | $122,736 * | — | — |
| Vermont | — | — | — |
| Virginia | $188,830 | $38,858 * | 4.9 |
| Washington | $121,956 * | — | — |
| West Virginia | $113,856 | — | — |
| Wisconsin | $111,669 | — | — |
| Wyoming | — | — | — |
Source
Survey of Income and Program Participation, 2008 Panel, Wave 7. Washington, DC: U.S. Department of Commerce, Census Bureau, 2010. Data calculated by the Bay Area Council Economic Institute.
"—" indicates that no data is available, or data is suppressed due to a margin of error that is greater than 50% of the estimate.
Footnotes
* Indicates that the margin of error is greater than 25% of the estimate, and as such, this estimate is too imprecise to rank. Caution should be used when using this data.
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