
The State of U.S. Wealth Inequality1 presents a timely look at average, inflation-adjusted wealth for various demographic groups. We provide quarterly data on racial, generational and educational wealth inequality based on average U.S. household wealth.2 Knowing the current state of wealth inequality sheds light on opportunities to foster a more equitable economy where everyone can thrive.
These estimates reveal the size of the wealth gaps between different demographic groups and identify which groups have the fewest resources. Knowing the magnitude of these gaps over time is an important step toward understanding why these differences persist and what actions might close them. Expanding the opportunity to build wealth to all families creates the potential for greater economic equity.
Key Takeaways
For the fourth quarter of 2022 (through Dec. 31):
How much wealth inequality is there in the U.S.?
- The top 10% of households by wealth had $6.8 million on average. As a group, they held 68% of total household wealth.
- The bottom 50% of households by wealth had $59,000 on average. As a group, they held only 3% of total household wealth.
What is the current generational wealth gap?
- Younger Americans (millennials and Gen Zers) owned 75 cents for every $1 of wealth owned by Gen Xers at the same age.3
- Younger Americans (millennials and Gen Zers) owned 84 cents for every $1 of wealth owned by baby boomers at the same age.
What is the current racial wealth gap?
- Black families owned about 25 cents for every $1 of white family wealth, on average.
- Hispanic families owned about 24 cents for every $1 of white family wealth, on average.
What is the current wealth gap by household education?
- Families headed by someone with some college education (but no four-year degree) had 31 cents for every $1 of wealth held by families headed by a four-year college graduate.
- Families headed by someone with a high school diploma had 24 cents for every $1 of wealth held by families headed by a four-year college graduate.
- Families headed by someone with less than a high school diploma had 10 cents for every $1 of wealth held by families headed by a four-year college graduate.
Overall, average wealth grew for many groups during most of 2020 and 2021 (even after controlling for historic inflation). However, some of those gains were erased in 2022 with losses in financial markets and weakening housing markets.
To visualize these data in detail, click on the headings below.
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