When it comes to wealth — as measured by assets, things you own, like cash savings, retirement accounts, stocks, bonds, and homes — minus your debts, like mortgages and credit card balances — White families have far outpaced Blacks. Before 2007’s “great recession” , non-Hispanic White families, on average, were about four times as wealthy as non-White families, according to the Urban Institute’s analysis of Federal Reserve data. By 2010, Whites were about six times as wealthy. Watch the video below.
The dollar value of that gap has grown, as well. By the most recent data, the average White family had about $632,000 in wealth, versus $98,000 for Black families.