7 Facts on Household Wealth in Black America
The wealth gap between whites and blacks has reached record levels.
1. As of 2011, the median household in the United States had $68,828 in net wealth.
2. The median white household in the United States had net wealth of $89,537 — 30% more than the national average.
3. The median black household had net wealth of only $6,314 — just 7% of the median white household in the United States.
4. The median black household had less than half the debt of white households — $35,000 compared to $75,000.
5. However, black households carry significantly more debt relative to their household assets than white households.
6. The lower debt of black households primarily reflects the fact that black households carry much less mortgage debt than white households.
7. Homeownership among white households is 73%, while only 43% of black households own their own homes.
Source: U.S. Census Bureau. Additional analysis by The Globalist Research Center.