2022's States with the Biggest and Smallest Wealth Gaps by Race/Ethnicity
Wallet Hub, Jan 25, 2022
In America, there is racial inequality in many areas, including our wealth. Current trends show that a wide financial gulf continues to divide racial groups in the U.S., with Hispanic and black Americans still at the bottom of the economic ladder. Non-Hispanic white Americans have a median household wealth of $139,300, compared to $12,780 for black households and $19,990 for Hispanic households.
Some key factors driving the racial wealth gap include unequal access to higher education and employment for minorities, as well as residential segregation that still persists.
In light of these issues, WalletHub measured the financial inequality among racial groups in each state and the District of Columbia. They did so by analyzing each state across 21 key metrics, ranging from the median household income gap to the unemployment rate gap….
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| Overall Rank* |
50 |
| State |
Hawaii |
| Total Score |
20.7 |
| Biggest Median Household Income Gap |
(most disadvantaged group) |
14.32% |
(Black People) |
| Biggest Homeownership Rate Gap |
(most disadvantaged group) |
57.50% |
(Black People) |
| Biggest Poverty Rate Gap** |
(most disadvantaged group) |
51.11% |
(Hispanics) |
| Biggest Educational Attainment Gap*** |
(most disadvantaged group) |
50.23% |
(Hispanics) |
|