In 2000, the median net worth of households maintained by African Americans was $7,500, less than one tenth of the net worth of $79,400 for non-Hispanic white households.
(Joint Center for Political and Economic Studies)
In 2000, the median net worth of African American households was $7,500, less than one tenth of the net worth of $79,400 for non-Hispanic white households. In comparison, the median net worth of Hispanic households was $9,750.
The vast differences between the net worth of whites and that of African Americans and Hispanics result from:
The most valuable asset widely owned by Americans is the equity in their homes (the value of the home minus the mortgage owed). Nearly three-quarters (73%) of white households held home equity in 2000, with a median value of $64,000. In contrast, less than half of African American and Hispanic households owned homes, and their median equity ($35,000 and $38,000, respectively) was considerably lower than the median for whites.
(Source: Joint Center for Political and Economic Studies)
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