Equalizing Home Ownership Rates Would Reduce the Black-White Wealth Gap by Almost $40,000

This bar chart shows the median wealth for Latino, Black and White families. The median White family has about $110,000, while median Black and Latino families have less than $10,000 each in wealth. It then shows what each group’s wealth would be if homeownership rates were equalized. If families owned homes at equal rates across racial/ethnic categories, then the median Latino family’s wealth would increase by $37,561 and the median Black family’s wealth would increase by $39,226. This chart shows that the disparity in home ownership rates across racial/ethnic groups is a key contributor to the racial wealth gap.