The typical white family possessed eight times the wealth of Black families and five times the wealth of Hispanic families in 2019, according to a Federal Reserve report Monday. Median wealth for white families in 2019 was still much higher, at $188,200, compared with $24,100 for Black families and $36,200 for Hispanics.
Median income for white families last year was $69,000, compared with $40,300 for Black families and $40,700 for Hispanics.
Median income among the poorest one-fifth of Americans rose 3%, while median income for the richest one-tenth increased 6%, the Fed said.
The richest 1% of Americans owned one-third of the nation’s wealth. The richest 10% of families owned 71% of wealth, unchanged from 2016.