Wealth inequality between homeowners and renters is striking: Homeowners' median net worth is 80 times larger than renters' median net worth.
That’s just one of the findings of a recent U.S. Census Bureau report and detailed tables on household wealth in 2015 that reveals wide variations across demographic and socioeconomic groups.
In 2015, 37% of households did not own a home and 47.1% of households did not have a retirement account. This gap in two key assets contributes to wealth inequality.
New household wealth measures became available with the release of the redesigned Survey of Income and Program Participation (SIPP). The SIPP’s sample size enables comparisons of the assets of many populations and groups, such as low-income households and households with or without children.
The Census Bureau will be continuing to release subsequent years of wealth data to the public. SIPP data on wealth in 2016 will be released early this fall.
Jonathan Eggleston is an economist and Donald Hays is a survey statistician in the Social, Economic and Housing Statistics Division at the Census Bureau.
Our email newsletter is sent out on the day we publish a story. Get an alert directly in your inbox to read, share and blog about our newest stories.
America Counts tells the stories behind the numbers in a new inviting way. We feature stories on various topics such as families, housing, employment, business, education, the economy, emergency management, health, population, income and poverty.
Contact our Public Information Office for media inquiries or interviews.