Business Insider, February 26, 2022, Homeownership is the one bright spot in building Hispanic generational wealth
The median income of Hispanic households was $56,113 in 2019, according to the National Community Reinvestment Coalition. The organization said the rate was 30% less than white households’ median income of $76,057. Since 1983, Hispanic households’ median net worth has hovered between 2% and 6% of the wealth of non-Hispanic white households, the NCRC said.
“Hispanics median household income of $56,000 leaves little for nonessential expenses like investments that are wealth building,” said Dedrick Asante-Muhammad, NCRC’s chief of membership, policy, and equity. “This paired with a lack of wealth in the community as a whole maintains deep racial/ethnic wealth inequality.”
