Wealth Inequality and the Racial Wealth Gap, Accessible Data

Year	White, Non-Hispanic	Black, Non-Hispanic	Hispanic/Latino	Other, Non-Hispanic	Gini
	Average Household Net Worth				Overall Wealth Inequality
1989	462.59	81.76	80.55	361.36	0.79
1992	403.50	88.88	99.18	370.62	0.78
1995	423.74	73.18	103.99	344.72	0.79
1998	532.16	100.42	137.99	423.82	0.80
2001	705.43	109.96	135.00	550.80	0.80
2004	756.25	149.29	170.85	505.39	0.81
2007	834.94	165.83	230.57	709.85	0.82
2010	743.28	114.38	128.88	607.63	0.85
2013	747.23	104.26	122.96	638.24	0.85
2016	961.44	149.05	194.02	752.42	0.86
2019	952.91	140.52	192.17	1039.35	0.85

Source: Survey of Consumer Finances.

Wealth Rank	Lorenz Curve
0.0002	-0.0002
0.1027	-0.0054
0.2021	-0.0051
0.3051	-0.0031
0.4203	0.0048
0.5429	0.0230
0.6640	0.0565
0.7757	0.1098
0.8682	0.1925
0.9449	0.3351
0.9861	0.5792
0.9993	0.8810
1	1

Source: Survey of Consumer Finances, 2019

Top-Left Panel: Lorenz Curve SCF 2019

Wealth Rank	Lorenz Curve	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
0.000185161	-0.00022071	0	0	0	-0.00022071
0.10271922	-0.00543163	-0.003080941	-0.00123019	-0.000584031	-0.000536468
0.20207751	-0.005097542	-0.00291882	-0.001155919	-0.000504931	-0.000517872
0.30511081	-0.003141722	-0.001797756	-0.000801752	-0.000153454	-0.000388761
0.42029458	0.004778023	0.002941525	0.000932091	0.001039372	-0.000134966
0.54287416	0.022951704	0.016043574	0.00356541	0.002892702	0.000450019
0.66399252	0.056489512	0.04115057	0.007109036	0.006443098	0.001786809
0.77571326	0.10982705	0.083265819	0.011760222	0.010028095	0.00477291
0.86822748	0.19246171	0.15063947	0.016932558	0.013074967	0.011814718
0.94486016	0.3350729	0.27374706	0.021174554	0.018902261	0.021249047
0.98609513	0.57919449	0.48601934	0.027371295	0.023439759	0.042364072
0.99933296	0.88097054	0.75687069	0.029311502	0.027152941	0.067635365
1	1	0.86784589	0.029427428	0.028099857	0.074626893

Note: Contributions denote the vertical area of each region in each panel of the graph. Contributions are stacked in the graph and y-axis points can be computed by cumulating contributions provided here.
Source: Authors’ calculations using Survey of Consumer Finances.

Top-Right Panel: Hypothetical Lorenz Curve Equality across Race

Wealth Rank	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
0.000185161	-0.000150211	-3.45398E-05	-2.41169E-05	-1.18425E-05
0.10271922	-0.003696659	-0.000850017	-0.000593511	-0.000291442
0.20207751	-0.003469285	-0.000797734	-0.000557006	-0.000273516
0.30511081	-0.002138194	-0.000491661	-0.000343294	-0.000168574
0.42029458	0.003251827	0.000747732	0.000522092	0.000256372
0.54287416	0.015620472	0.003591803	0.00250792	0.001231508
0.66399252	0.038445637	0.008840268	0.006172579	0.003031029
0.77571326	0.074746102	0.017187269	0.012000743	0.005892935
0.86822748	0.1309856	0.030119097	0.021030189	0.010326821
0.94486016	0.22804394	0.052436888	0.036613237	0.017978838
0.98609513	0.39418823	0.090640441	0.063288271	0.031077547
0.99933296	0.59957099	0.13786657	0.096263185	0.047269791
1	0.68058008	0.15649396	0.10926947	0.053656496

Note: Contributions denote the vertical area of each region in each panel of the graph. Contributions are stacked in the graph and y-axis points can be computed by cumulating contributions provided here.
Source: Authors’ calculations using Survey of Consumer Finances.

Bottom-Left Panel: Population Shares by Wealth Rank SCF 2019

Wealth Rank	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
0	0.60029685	0.26484647	0.093459114	0.041397557
0.050000001	0.56823927	0.27538082	0.11797918	0.038400777
0.1	0.43696076	0.36591685	0.1619108	0.035211645
0.15000001	0.43567422	0.31863898	0.18419945	0.061487377
0.2	0.50892138	0.214444	0.2155481	0.061086506
0.25	0.5305934	0.20505592	0.18824643	0.076104254
0.30000001	0.59890294	0.18986352	0.15972044	0.051513072
0.34999999	0.56430417	0.24307993	0.15504658	0.037569325
0.40000001	0.64078504	0.18928435	0.14148943	0.02844115
0.44999999	0.69494486	0.16797511	0.10396004	0.033120017
0.5	0.74528676	0.12048471	0.10333443	0.030894101
0.55000001	0.72643286	0.12614773	0.10142606	0.04599338
0.60000002	0.74757391	0.10881997	0.10818706	0.035419066
0.64999998	0.75129801	0.10411736	0.10229605	0.042288609
0.69999999	0.76986206	0.092217512	0.075728446	0.062191937
0.75	0.79222161	0.083992161	0.059413094	0.064373173
0.80000001	0.79934824	0.065733336	0.047683552	0.087234855
0.85000002	0.83369195	0.060416989	0.043510851	0.062380217
0.89999998	0.86011332	0.035269137	0.041825905	0.062791698
0.94999999	0.86473519	0.023480298	0.023319928	0.088464536
1	0.88250822	0.016544625	0.016079161	0.084868073

Note: Contributions denote the vertical area of each region in each panel of the graph. Contributions are stacked in the graph and y-axis points can be computed by cumulating contributions provided here.
Source: Authors’ calculations using Survey of Consumer Finances.

Bottom-Right Panel: Population Shares by Wealth Rank Equality across Race

Wealth Rank	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
0	0.6805801	0.156494	0.1092695	0.0536565
0.050000001	0.6805801	0.156494	0.1092695	0.0536565
0.1	0.6805801	0.156494	0.1092695	0.0536565
0.15000001	0.6805801	0.156494	0.1092695	0.0536565
0.2	0.6805801	0.156494	0.1092695	0.0536565
0.25	0.6805801	0.156494	0.1092695	0.0536565
0.30000001	0.6805801	0.156494	0.1092695	0.0536565
0.34999999	0.6805801	0.156494	0.1092695	0.0536565
0.40000001	0.6805801	0.156494	0.1092695	0.0536565
0.44999999	0.6805801	0.156494	0.1092695	0.0536565
0.5	0.6805801	0.156494	0.1092695	0.0536565
0.55000001	0.6805801	0.156494	0.1092695	0.0536565
0.60000002	0.6805801	0.156494	0.1092695	0.0536565
0.64999998	0.6805801	0.156494	0.1092695	0.0536565
0.69999999	0.6805801	0.156494	0.1092695	0.0536565
0.75	0.6805801	0.156494	0.1092695	0.0536565
0.80000001	0.6805801	0.156494	0.1092695	0.0536565
0.85000002	0.6805801	0.156494	0.1092695	0.0536565
0.89999998	0.6805801	0.156494	0.1092695	0.0536565
0.94999999	0.6805801	0.156494	0.1092695	0.0536565
1	0.6805801	0.156494	0.1092695	0.0536565

Note: Contributions denote the vertical area of each region in each panel of the graph. Contributions are stacked in the graph and y-axis points can be computed by cumulating contributions provided here.
Source: Authors’ calculations using Survey of Consumer Finances.

Race	Change in Contribution to Gini
Black, non-Hispanic	0.011726457
Hispanic	0.00598175
Other	-0.000565267
White, non-Hispanic	-0.017142944

Note: Bars denote difference in Gini contribution for each race in racial equality counterfactual versus actual SCF data in 2019 and are derived by differencing the shaded regions in the top panels of Figure 3. Each bar represents the change in Gini achieved by shifting the distribution of each race’s wealth to match the aggregate wealth distribution. Contributions sum to zero by assumption.
Source: Authors’ calculations using Survey of Consumer Finances.

Top-Left Panel: Actual

Year	Change in Gini vs 1989	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
1989	0	0	0	0	0
1992	-0.002034575	0.002072334	-0.002545864	-0.000877239	-0.000683791
1995	0.002058655	0.001729041	-0.001615646	-4.25894E-05	0.001987856
1998	0.011658475	0.009939224	-0.000678568	-0.000373241	0.002771065
2001	0.017850012	0.013827667	0.000273015	-0.000175472	0.003924814
2004	0.021658123	0.023051843	-0.000167847	-0.002240238	0.001014367
2007	0.028502762	0.030711025	0.000442942	-0.003026267	0.000375064
2010	0.058022395	0.054402426	0.003012758	-0.001093529	0.001700747
2013	0.063175574	0.057844199	0.004936951	-0.000561398	0.000955829
2016	0.07218124	0.068105035	0.003561222	-0.001232548	0.001747536
2019	0.064763308	0.064144015	0.002856225	-0.002321632	8.47029E-05

Note: Contributions to difference appear from top to bottom in order they appear in legend, except in 1992 and 1995 when “Other” appears just below “White”.
Source: Authors’ calculations using Survey of Consumer Finances.

Top-Right Panel: Racial Equality Counterfactual

year	Change in Gini vs 1989	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
1989	0	0	0	0	0
1992	-0.002034575	-0.00267899	-5.04218E-05	0.000847446	-0.000152598
1995	0.002058655	-0.004426509	0.000155425	0.004923374	0.001406385
1998	0.011658475	0.002787635	0.003258579	0.002403207	0.003209049
2001	0.017850012	0.010533154	0.001717201	0.001394954	0.004204706
2004	0.021658123	0.018437967	0.001199173	-0.000635935	0.00265694
2007	0.028502762	0.022950128	0.003900971	-0.000488294	0.002139961
2010	0.058022395	0.049567886	0.00573596	0.000214972	0.002503595
2013	0.063175574	0.054332078	0.005230786	0.000927825	0.002684901
2016	0.07218124	0.063531443	0.004789094	0.000897169	0.00296354
2019	0.064763308	0.058504738	0.003905283	0.00067839	0.001674906

Note: Contributions to difference appear from top to bottom in order they appear in legend, except in 1992 and 1995 when “Other” appears just below “White”.
Source: Authors’ calculations using Survey of Consumer Finances

Bottom Panel: Difference vs Racial Equality Counterfactual

year	White, Non-Hispanic	Black, Non-Hispanic	Hispanic	Other
1989	0	0	0	0
1992	0.004751325	-0.002495442	-0.001724685	-0.000531193
1995	0.00615555	-0.001771071	-0.004965963	0.000581472
1998	0.007151589	-0.003937147	-0.002776448	-0.000437984
2001	0.003294513	-0.001444185	-0.001570426	-0.000279892
2004	0.004613876	-0.001367019	-0.001604303	-0.001642573
2007	0.007760897	-0.00345803	-0.002537972	-0.001764897
2010	0.00483454	-0.002723202	-0.001308501	-0.000802849
2013	0.003512121	-0.000293835	-0.001489222	-0.001729072
2016	0.004573592	-0.001227872	-0.002129717	-0.001216004
2019	0.005639277	-0.001049059	-0.003000022	-0.001590204

Note: Contributions to difference appear from top to bottom in order they appear in legend, except in 1992 and 1995 when “Other” appears just below “White”.
Source: Authors’ calculations using Survey of Consumer Finances

X	Liquid Assets	Financial Assets, non-liquid	Other debts	Primary home, net of mortgage	Business, net of debts	Other net wealth
0	-0.071006887	-0.11902318	1.5996219	-0.13358727	-0.004703872	-0.27130064
0.050000001	-0.14223616	-0.15187301	1.9655098	-0.11589779	-0.005372114	-0.55013078
0.1	0.34423897	-0.047529601	1.0117011	-0.009612186	-0.003314149	-0.29548413
0.15000001	0.65696114	0.11931019	-0.47227737	0.007869616	0.001485425	0.68665105
0.2	0.27416667	0.13306242	-0.55811989	0.05725738	0.00309966	1.0905336
0.25	0.23752996	0.20876481	-0.50397533	0.17770882	0.006857299	0.87311447
0.30000001	0.21126205	0.32697383	-0.55870366	0.34886929	0.018329661	0.65326893
0.34999999	0.1469238	0.33363739	-0.41740143	0.48080963	0.028452417	0.42757821
0.40000001	0.10187025	0.24763952	-0.25863478	0.56861806	0.023526996	0.31697994
0.44999999	0.10348432	0.24005233	-0.20193374	0.57597637	0.026955042	0.25546572
0.5	0.099704042	0.24484707	-0.15221387	0.56714875	0.025318652	0.21519539
0.55000001	0.08462435	0.23455879	-0.12106983	0.56398571	0.03243478	0.20546618
0.60000002	0.093144275	0.2264469	-0.093481384	0.55687791	0.046682544	0.17032975
0.64999998	0.090985715	0.27437845	-0.074875697	0.52077198	0.04323272	0.14550678
0.69999999	0.079209864	0.29790425	-0.060418379	0.5061174	0.043850601	0.13333626
0.75	0.073714361	0.32496995	-0.048831854	0.45662272	0.051946003	0.14157878
0.80000001	0.083249763	0.37407479	-0.034089826	0.36970493	0.055583898	0.15147638
0.85000002	0.077571146	0.40328023	-0.02180665	0.33459789	0.068950012	0.13740738
0.89999998	0.061413836	0.47676554	-0.01425337	0.26920703	0.087360211	0.11950677
0.94999999	0.054613709	0.50563943	-0.006386585	0.19075678	0.13950165	0.11587501
1	0.048179016	0.46728331	-0.003298324	0.13458802	0.22860141	0.12464658

Note: Contributions appear from x-axis up in the order they appear in the legend, with exception of Other Debts, which appears below the x-axis. Portfolio shares for bottom quantiles with negative net wealth not plotted.
Source: Survey of Consumer Finances, 2019.

Interval	Black, non-Hispanic	White, non-Hispanic	Other, non-Hispanic	Hispanic	Black, non-Hispanic	White, non-Hispanic	Other, non-Hispanic	Hispanic
	House Price Growth				Home Equity Return
2000-2007	7.534678	7.515738	9.517949	9.207364	14.84384	14.03802	17.33839	17.33937
2007-2010	-5.88383	-5.91054	-6.80363	-7.77183	-19.1043	-16.5029	-18.7736	-23.2509
2010-2015	2.308847	2.358483	3.830124	3.637992	4.226145	4.383109	7.051701	7.001652
2015-2019	4.872641	5.022446	5.454587	5.326382	9.483194	9.357881	9.554734	9.701048

Note: Legend entries appear in the graph from left to right. Home ownership rates from 2000-2004 are from 2000 Census, 2005-2019 are from 1-year ACS in each year.
Source: Authors’ calculations using 2000 Decennial Census, 2005-2019 American Community Survey, CoreLogic, Inc, HPI data, and Black Knight McDash.

year	White, non-Hispanic	Black, non-Hispanic	Hispanic	Other, non-Hispanic
1994	100	100	100	100
1995	100.5716327	99.70449173	102.1250759	98.69041383
1996	102.4294391	104.2553191	103.8858531	106.7574646
1997	102.8581636	105.9692671	104.9787492	110.0576218
1998	103.7156127	107.8014184	108.6217365	111.1052907
1999	104.6087889	109.3380615	110.564663	112.5196438
2000	105.501965	111.5248227	112.5075896	112.2577266
2001	106.1450518	112.8841608	114.8148148	113.5149293
2002	106.8238657	112.1158392	114.0862174	114.1959141
2003	107.6813148	113.7115839	113.3576199	117.234154
2004	108.6102179	116.1347518	116.7577413	122.7867994
2005	108.3601286	114.0070922	120.2185792	124.3583028
2006	108.3958557	113.0614657	120.582878	125.4583552
2007	107.5026795	111.5248227	120.6435944	123.9916186
2008	107.2168632	111.9976359	119.3685489	122.4724987
2009	106.8595927	109.3380615	117.6684882	121.1105291
2010	106.3951411	107.3286052	115.4219794	119.3818753
2011	105.501965	106.2056738	113.904068	118.1770561
2012	105.1089675	103.7234043	112.0218579	115.1911996
2013	104.8231511	101.8321513	111.900425	115.4007334
2014	103.8585209	101.536643	110.3217972	115.243583
2015	102.7867095	100	110.6860959	112.6244107
2016	102.7867095	98.22695035	111.5361263	110.6338397
2017	103.3226152	99.94089835	112.2040073	114.1959141
2018	104.3229725	99.52718676	114.2683667	116.6579361
2019	104.8231511	99.52718676	115.3005464	115.5578837

Source: U.S. Census, Housing Vacancies and Ownership.

Board of Governors of the Federal Reserve System

Accessible Version

Wealth Inequality and the Racial Wealth Gap, Accessible Data

Figure 1: Household net worth and income, by race and ethnicity

Figure 2: Lorenz Curve for Net Worth

Figure 3: Net Worth Lorenz Curves by Race – Actual versus Racial-Equality Counterfactual

Figure 4: Change in Gini from Shift to Racial Equality

Figure 5: Decomposing Changes in Gini by Race

Figure 6: Portfolio Composition by Wealth Rank

Figure 7: Average House Price and Home Equity Returns by Race

Figure 8: Homeownership by race, Indexed to 1994