Examining The Black-White Wealth Gap




Examining The Black-White Wealth Gap

Kriston McIntosh
Managing Director, The Hamilton Project at The Brookings Institution

In 2019, the median white household held $188,200 in wealth—7.8 times that of the typical Black household ($24,100). Over the past 30 years, the median wealth of white households has consistently dwarfed that of Black households. In 2019, Black families are not only less likely to own a home, but their homeownership also yields lower levels of assets: 73 percent of white families compared to 42 percent of Black families owned a home and white families’ home value was $230,000 compared to $150,000 for Black families. Similarly, of the $30.8 trillion in total real estate assets reported in the second quarter of 2020, white households held 78 percent ($23.9 trillion) compared to 5 percent ($1.6 trillion) held by Black households. What significant structural changes are needed at the local, state, and federal level to help increase wealth and reduce disparities going forward?

Innovation Themes

Learn More

Website Link