Asset Ownership of Households: 1998 and 2000 Highlights
(All dollar values in this report are expressed in 2000 dollars, unless specified otherwise.)
Median household net worth increased from $49,932 in 1998 to $55,000 in 2000. (1)
Median household asset values of stocks, rental property and Individual Retirement Accounts (IRA and Keogh accounts) also experienced significant increases between 1998 and 2000.
The median household value of other financial investments fell during the same period from $24,367 to $22,000. Other financial investments include mortgages held for sale of real estate and amount due from sale of business or property.
Median home equity for households was $59,000 in 2000, significantly higher than the 1998 median household home equity of $55,263.
In 2000, median household net worth varied from $7,396 for households in the lowest income quintile to $185,500 for households in the highest income quintile.
In 2000, median household net worth generally increased with the age of the householder, rising from $7,240 for householders under the age of 35, to $108,885 for householders 65 and older.
In 2000, the household median net worth was $79,400 for households with a non-Hispanic White householder, $7,500 for households with a Black householder, and $9,750 for households with a Hispanic householder(2). Hispanic households and Black households had significantly lower net worth than non-Hispanic White households, but the difference between Hispanic and Black households was not statistically significant.
Married-couple households, the majority of households, had the highest median net worth in 2000: $91,218. Significantly lower net worth characterized male householders ($24,659) and female householders ($23,028) .
In 2000, households with householders having a job for the entire four-month reference period had a median household net worth of $51,050, compared with $28,543 for those with householders having no labor force activity during this time.
1. The median net worth is the amount which divides the net worth distribution into two equal groups, one having household net worth less than the median amount and the other having net worth above the median. See Appendix B for a technical description of the changes in median estimation from earlier reports in this series.
2. Hispanics may be of any race. The race or Hispanic origin of the householder designates the race or Hispanic origin of the household.
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Source: U.S. Census Bureau, Housing and Household Economic Statistics Division