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States and territories are sorted by the share of the lowest quintile in aggregate household income, i.e. the share of household income of 20% of the poorest households in the total household income. Due to different methodologies by which the United States Census Bureau and the EPI have calculated their results, the data should not be compared.
Income by race and ethnicity and Asian American groups 2024 (Household and Per Capita) Wages from the labor market are the primary source of income for most families in America, [6] and income is a socio-demographic status indicator that is important in understanding the building of wealth. [7]
This is a list of U.S. states, territories, and Washington, D.C. by income. Data is given according to the 2023 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands, for which the data comes from 2010, as ACS does not operate in these areas. [note 1]
However, the wealth gap has only widened. In 2022, the Urban Institute reported the average Black household had roughly $211,000 in wealth, while the average Hispanic household had roughly $227,544.
A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released ...
The racial wealth gap could be reduced by 10% over three generations if Black households wrote wills at the same rate as white ones, according to a recent study.
A study by the Brandeis University Institute on Assets and Social Policy which followed the same sets of families for 25 years found that there are vast differences in wealth across racial groups in the United States. The wealth gap between Caucasian and African-American families studied nearly tripled, from $85,000 in 1984 to $236,500 in 2009.
Hence, wealth provides mobility and agency—the ability to act. The accumulation of wealth enables a variety of freedoms, and removes limits on life that one might otherwise face. Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 30.9% of the country's wealth, while the bottom 50% held 2.6%. [7]