"The data in our report show - in black and white - the persistence of a stark racial wealth gap in New York," said Comptroller Brad Lander. "The median household net worth of white New Yorkers is nearly 15 times that of Black New Yorkers. The average white New York high school graduate has net worth three times greater than the average Black college graduate. These numbers add up to opportunities denied to millions of Black New Yorkers, wealth disparities perpetuated across generations, and a poorer city and state for all of us since inequality holds back economic growth for all." The report, Scoping the Racial Wealth Gap in New York State and City, analyzes data from the 2021 Survey of Income and Program Participation and the 2017-2021 American Community Survey.
New York State has a wider racial wealth gap than the United States as a whole, where the median white household net worth is $291,250 and the median Black household net worth is $24,850.
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