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Exploring median family wealth in the US (1983-2016)

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Last edited Jul 25, 2021
Created on Jul 17, 2021

Exploring median family wealth in the US (1983-2016)

Data

  • The data originally comes from the Urban Institue & US Census. This was collated into .csv files as part of the #TidyTuesday project.

  • The above chart explores the median family wealth of US households over the period 1983-2016 split by race.

  • The figures have been normalized to 2016 rates so as to make them comparable and not be affected by inflation.

Observations

  • The median White family wealth is almost 8x of that of Black and Hispanic families. Thus, there is a significant disparity in the ditribution of wealth and this has not improved over the years.

  • From 2007 to 2010, there was a sharp fall in the median family wealth which was most pronounced for White families. This seems to be driven by the 2007-08 housing market crash and the subsequent recession.

  • Historically, the median family wealth of Black housholds has been higher than that of Hispanic households. However, over the last ten years, this trend seems to be reversing.

MIT Licensed