Accessible Version
Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances, Accessible Data
Figure 1: White families have more wealth than Black, Hispanic, and other or multiple race families in the 2019 SCF.
Median Net Worth (Top panel)
| Networth | Standard Error (+) | Standard Error (-) | |
|---|---|---|---|
| White | 188.2 | 193.8 | 182.6 |
| Black | 24.1 | 28.4 | 19.8 |
| Hispanic | 36.1 | 40.9 | 31.3 |
| Other | 74.5 | 83.2 | 65.8 |
Mean Net Worth (Bottom panel).
| Networth | Standard Error (+) | Standard Error (-) | |
|---|---|---|---|
| White | 983.4 | 1008.4 | 958.4 |
| Black | 142.5 | 158.4 | 126.6 |
| Hispanic | 165.5 | 178.9 | 152.1 |
| Other | 657.2 | 718.4 | 596.0 |
Source: Federal Reserve Board, 2019 Survey of Consumer Finances.
Notes: Figures displays median (top panel) and mean (bottom panel) wealth by race and ethnicity, expressed in thousands of 2019 dollars.
Figure 2: Black and Hispanic families experienced faster growth in wealth over the last two surveys after experiencing larger declines in wealth caused by the Great Recession.
Percent
| 2007-2010 | 2010-2013 | 2013-2016 | 2016-2019 | |
|---|---|---|---|---|
| White | -27.3 | 1.4 | 16.7 | 3.5 |
| Black | -27.7 | -23 | 25.7 | 32.6 |
| Hispanic | -26.5 | -20.9 | 45.2 | 64.9 |
| Other | -33 | -9.8 | 52 | 8.3 |
Source: Federal Reserve Board, Survey of Consumer Finances.
Notes: Figure displays percent changes in median wealth by race and ethnicity between the 2007 and 2019 Surveys. Survey years are displayed in order from left to right.
Figure 3. Homeownership rises with age regardless of race or ethnicity, though there are significant differences in homeownership between White and non-White families throughout the life-cycle.
| Under 35 | 35-54 | Over 55 | |
|---|---|---|---|
| White | 46% | 73% | 84% |
| Black | 17% | 50% | 57% |
| Hispanic | 28% | 52% | 61% |
| Other | 29% | 63% | 64% |
Source: Federal Reserve Board, 2019 Survey of Consumer Finances.
Notes: Figure displays homeownership rates by age group and by race and ethnicity. Race categories are displayed in order from left to right.
Figure 4. Retirement account ownership peaks at middle age, though ownership is less likely for Black and Hispanic families at all ages.
| Under 35 | 35-54 | Over 55 | |
|---|---|---|---|
| White | 53% | 65% | 54% |
| Black | 31% | 44% | 29% |
| Hispanic | 26% | 28% | 21% |
| Other | 49% | 60% | 47% |
Source: Federal Reserve Board, 2019 Survey of Consumer Finances.
Notes: Figure displays the percent of families that own a retirement account (IRA or DC plan) with a net positive balance by age group and by race and ethnicity. Race categories are displayed in order from left to right.
Figure 5. White and other or multiple race families have broader access and participate more in employer-sponsored retirement plans.
| Access | Participation | |
|---|---|---|
| White | 68% | 60% |
| Black | 56% | 44% |
| Hispanic | 44% | 34% |
| Other | 61% | 54% |
Source: Federal Reserve Board, 2019 Survey of Consumer Finances.
Notes: Figures displays the percent of families with access to employer-sponsored retirement plans (DC or DB plans, blue bars) and the percent of families that participate in an employer-sponsored retirement plan (orange bars) among families under 55 years old, by race or ethnicity. Key identifies bar chart in order left to right.