Wealth measures the value of all the assets of worth owned by a person or family. It is the market value of all physical and intangible assets owned minus all debts. Housing equity typically accounts for the majority of household wealth in the U.S.

Average wealth for white families is seven times higher than average wealth for black families, according to Economic Policy Institute (using 2013 data). Median white household wealth is twelve times higher than median black household wealth. Median wealth for black families whose head of household has a college degree is one-eighth the wealth of the median white family whose head has a college degree. The typical black family with a graduate or professional degree has $200,000 less wealth than a comparable white family, according to the report.
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Source: Federal Reserve via Salon Media Group

Last Updated on July 8, 2018 by Ramin Seddiq