Abstract
In this research report, written in coordination with the Institute on Assets and Social Policy (IASP) at Brandeis University, we focus on two segments of the U.S. society: white and African-American households. The income and wealth gap between these two groups has been widely researched, and reliable data have been available since the 1980s. Based on the Federal Reserve Board’s Survey of Consumer Finances (SCF) data for 2010, the median income of white Americans was 70% higher than that of African-Americans and their net worth (or wealth) was 7.9 times higher.
When looking at wealth levels, racial disparities are startling. We were curious to see to what extent these disparities held true at income and wealth levels well above the median. How wide is the gap for the top 10%, 5%, or even 1% of African-Americans? And, what differentiates the top wealth groups from the rest of African-Americans or wealthier white Americans?