CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Net Worth by Race

Reports & Graphics

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.

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Net Worth by Race

StateMedian 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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