Amazing Net Worth Facts By Race
We are used to seeing stats on income, but net worth / wealth numbers are less common and more eye-opening. Here are some net worth numbers from a 2007 government survey of consumer finances, as reported by the liberal Insight Center for Community Economic Development:
• Single black and Hispanic women have a median wealth of $100 and $120 respectively; the median for single white women is $41,500.
• While white women in the prime working years of ages 36-49 have a media wealth of $42,600, the media wealth for women of color is only $5. [Is “media wealth” a thing or a typo?]
• Nearly half of all single black and Hispanic women have zero or negative wealth, the latter of which occurs when debts exceed assets.
• While 57 percent of single white women own homes, only 33 percent of single black women and 28 percent of single Hispanic women are homeowners.
• Only 1 percent of single Hispanic women and 4 percent of single black women own business assets compared to 8 percent of single white women.
• Social Security is the only source of retirement income for more than 25 percent of black women.
• Prior to age 50, women of color have virtually no wealth at all.