Researchers endeavor to determine the cost of inequity to the U.S. economy. Using data from the Current Population Survey (CPS) from 1990-2019, they examine inequity in education and the labor market by gender and race. They find that structural barriers and embedded inequities in policies and practices have persistently disrupted economic gains. They highlight the cumulative effects of these inequities, noting that they limit innovation, invention, and entrepreneurship.

The Economic Gains from Equity

This brief examines the "double jeopardy" Black women experience during salary negotiations and the systemic source of wage inequities. The researchers suggest ways Black women can manage the negotiation process and and offers solutions for employers and policymakers to reduce inequities.

Pay Inequities among Black Women: The Role of Race and Gender in Salary Negotiation

This report from the Urban Institute discusses the persistent racial homeownership gap between Black and White households in the United States. ​ It analyzes factors such as age, sex, marital status, income, unemployment, educational attainment, racial segregation, housing affordability, housing supply, and credit scores that contribute to the gap. ​ The analysis is based on regression analyses using data from the Decennial Census, the American Community Survey, Freddie Mac, and the Bureau of Economic Analysis.

Explaining the Black-White homeownership gap: a closer look at disparities across local markets

The study analyzed FEMA buyout data and demographic data in Houston, Texas from 1970-2017, and found federally funded home buyouts under managed retreat policies have disproportionately benefited White residents, while leaving Black and Latinx residents more exposed to flood risk. The study found that as the white population declined in a census tract, buyouts increased, enabling white flight. Buyout participants tended to relocate to areas with higher shares of White residents, perpetuating segregation. The findings suggest that color-blind climate adaptation policies can reinforce racial inequities.

Color-Blind Climate Policies Reinforce Racial Inequities

This study examines racial disparities in the earnings of college graduates, particularly within Minority-Serving Institutions (MSIs), utilizing data from the 2008-2018 and 2016-2017 Postbaccalaureate and Beyond datasets. The findings show that Asian and White graduates surpass Hispanic and Black graduates in annual salaries ten years after degree completion. Additionally, the study elucidates the influence of internships on earnings and addresses issues related to social class and gender.

Rethinking Socioeconomics through Higher Education: A National Study on Race, College Internships, Minority-Serving Institutions, and Post-College Annualized Salary Disparities 

Reserchers reviewed studies examining the relationship between historical redlining practices by the Home Owners' Loan Corporation (HOLC) and present-day neighborhood environmental conditions and health outcomes. Their analyses found that areas given lower "hazardous" grades by HOLC, which disproportionately affected neighborhoods with Black residents, are associated with poorer environmental conditions like higher temperatures and less green space, as well as worse health outcomes like higher rates of chronic disease, adverse birth outcomes, and lower life expectancy.

The Relationship of Historical Redlining with Present-Day Neighborhood Environmental and Health Outcomes: A Scoping Review and Conceptual Model

The 2012 Survey of Business Owners (SBO) surveyed approximately 1.75 million businesses, seeking details about both the businesses themselves and their proprietors. This data is categorized and presented based on various factors, including the demographics of owners such as gender, ethnicity, race, and veteran status. Additionally, geographical information is provided, covering the entirety of the United States as well as states, metropolitan areas, counties, and specific places. Industries are classified using 2- through 6-digit NAICS codes, with data available for selected geographic areas. Finally, the size of firms is analyzed based on both receipts and employment size.

U.S. Census Bureau. Survey of Business Owners (SBO) - Survey Results: 2012

Outlines the effects of COVID-19 on Black workers’ health and wealth

Black workers face two of the most lethal preexisting conditions for coronavirus— racism and economic inequality

Researchers examine racial differences in intergenerational wealth mobility in the United States, using data from the Panel Study of Income Dynamics and visualizations to illustrate the findings. Results show that Black children are more likely to experience downward mobility in wealth compared to White children, regardless of their parents' wealth position. Additionally, the article highlights the unequal distribution of Black and White families across the wealth distribution, with White families more concentrated in higher wealth quintiles. Despite intergenerational fluctuations in wealth positions, substantial racial wealth gaps persist, reflecting both historical disadvantages and contemporary processes, including institutionalized discrimination.

Intergenerational Wealth Mobility and Racial Inequality

Connects the environmental injustice of climate change to existing racial injustice in the form of racial health inequity/disparity, occurring across a broad range of health outcomes

Racial Disparities in Climate Change-Related Health Effect in the United States

This blog introduces the National Equity Atlas (NEA), created by PolicyLink and the USC Equity Research Institute. The National Equity Atlas is a comprehensive data and policy tool that provides detailed data on demographic change, racial and economic inclusion, and the economic benefits of racial equity across the United States. This data is disaggregated by race, ethnicity, and geography, allowing grassroots community organizers and advocates to design targeted strategies to advance racial equity. The Atlas draws from publicly available data sources and has been used by organizations across the country to make data-driven cases for policies promoting equity, such as rental assistance and eviction protections during the COVID-19 pandemic.

The National Equity Atlas: data and research to fuel the equity movement

This webinar from the Urban Institute discusses new datasets assessing COVID-19’s impact on households. The data provide information on mortgage payments, forbearance use, rental payments, foreclosure risk, credit availability for new homeowners, and housing insecurity. They also contain demographic and geographic information that demonstrates how the pandemic’s impact varies by race, income, and location.

Measuring the crisis: housing data during the COVID-19 pandemic

This research study used longitudinal data from various sources, including the Health and Retirement Study and the Consumption Activities Mail Survey, to estimate racial and ethnic disparities in well-being among older Americans. The study incorporated differences in consumption, leisure, health, mortality, and wealth to provide a comprehensive measure beyond income inequality. Findings revealed that there is a larger racial and ethnic welfare inequality among older Americans than suggested by traditional income metrics, especially when considering wealth and health outcomes. Specifically, Black and Hispanic respondents reported worse health outcomes, a higher incidence of certain health risk factors, lower educational attainment, and lower retirement ages compared to their White counterparts.

Beyond Income: Health, Wealth, and Racial/Ethnic Welfare Gaps Among Older Americans

Researchers construct the first continuous time series of the White-to-Black per capita wealth ratio in the U.S. from 1860 to 2020, drawing on historical census records, state tax data, national reports, and the Survey of Consumer Finances. Results indicate that the racial wealth gap exhibited rapid convergence in the first decades after slavery's abolition, but has stagnated since the 1980s. The gap's evolution is broadly explained by a wealth accumulation model accounting for differences in initial wealth, income growth, savings rates, and capital gains across racial groups.

Wealth of Two Nations: The U.S. Racial Wealth Gap, 1860-2020

This dashboard leverages data from the American Community Survey, The Sandford Educational Explorer, and the Black Wealth Data Center to tell the socioeconomic story of Black people in Oregon. The dashboard explores the Black experience across five domains including population, health, education, economic well-being, and business ownership.

Black Prosperity Dashboard

This report from the Urban Institute discusses the racial wealth gap in the United States and how it has worsened over time. ​ It highlights that wealth disparities are three times larger than income disparities between White persons and communities of color. ​ The data used in the document comes from the Survey of Consumer Finances (SCF) conducted in 1983, 1989, 1992, 1995, 1998, 2001, 2004, 2007, and 2010. ​ The document also mentions that the Great Recession exacerbated the wealth disparities, with Hispanics experiencing the largest decline in wealth and Black persons being hit hardest in terms of retirement assets.

Less than equal: racial disparities in wealth accumulation

This report from the Aspen Institute examines racial disparities in debt and how they contribute to the racial wealth inequities in the United States. The researchers leverage data from the 2019 Federal Reserve Survey of Consumer Finances, as well as focus groups and interviews with people struggling with debt. The report highlights how Black households are disproportionately burdened by harmful types of debt like medical debt, face greater challenges in building wealth due to disparities in areas like homeownership and student loans, and experience negative non-financial consequences of debt such as diminished health and institutional distrust at higher rates compared to White households.

Disparities in Debt: Why Debt is a Driver in the Racial Wealth Gap

The commentary highlights the June 29 Supreme Court decision, which undermines four decades of precedent. This ruling, rooted in the 14th Amendment, disregards the historical injustice endured by Black Americans and could result in reduced racial diversity in colleges. The authors suggest that Historically Black colleges and universities (HBCUs) can play a crucial role in addressing this issue, but they require increased investment. The decision hampers the ability to tap into the full potential of students, given the presence of systemic barriers hindering access to education. HBCUs offer significant opportunities for students of color, but their underfunding remains a critical challenge.

The Supreme Court’s decision to strike down affirmative action means that HBCU investment is more important than ever

The Supreme Court has limited affirmative action programs aimed at addressing racial inequality in education. However, racial inequality persists, with significant gaps in income, wealth, and homeownership between White Americans and people of color. As the Supreme Court regresses, communities are proactively working to mend long-standing racial inequities.

From Affirmative Action To Reparations: Bridging Racial Economic Inequality

This study examines the relationship between historic racially discriminatory housing policies (racial covenants and redlining) and present-day environmental outcomes in Minneapolis, Minnesota. Using spatial data on racial covenants from the Mapping Prejudice project, redlining maps from the Mapping Inequality database, and contemporary data on land surface temperature, tree canopy cover, and impervious surface cover, the authors find that areas with racial covenants are associated with cooler temperatures, more tree canopy, and less impervious surface today compared to areas without covenants. The environmental benefits associated with covenants are comparable to those of areas given the highest HOLC grades ("A" or "B"). Within each HOLC grade, the presence of covenants is linked to additional environmental benefits that mitigate the negative impacts associated with redlining.

The impacts of racially discriminatory housing policies on the distribution of intra-urban heat and tree canopy: A comparison of racial covenants and redlining in Minneapolis, MN

This report from the Urban Institute discusses a case study on using imputation to add race and ethnicity data to credit bureau records that lacked this information. The data sources used include credit bureau data from 2013, population estimates by race/ethnicity and age from the 2011-2015 American Community Survey, and estimates of credit invisibility rates by race and age from the Consumer Financial Protection Bureau. The report outlines three "ethics checkpoints" to examine potential racial bias in the input data, methodology, and resulting imputations, and provides recommendations for mitigating bias, communicating limitations, and determining when imputed data should not be used.

Ethics and Empathy in Using Imputation to Disaggregate Data for Racial Equity, A Case Study Imputing Credit Bureau Data

This article explores racial disparities in household debt, particularly focusing on the growing racial gap in education debt. Black households have consistently held higher student loan debt than white households since 2001, even after accounting for education levels. The authors introduce the concept of "predatory inclusion," where marginalized groups gain access to opportunities like college but under exploitative conditions, potentially devaluing their degrees. Data sources used include the Survey of Consumer Finances (SCF) and statistics on college enrollment from the National Center for Education Statistics (NCES) Data Lab.

Predatory Inclusion and Education Debt: Rethinking the Racial Wealth Gap

Researchers study whether disparities in consumer demand and credit supply across Black- and White-owned startups are prevalent at an economy-wide level. They use data from the Kauffman Firm Survey (KFS), a panel survey of firms formed in the United States in 2004 and tracked through 2011. The analysis focuses on estimating the differences in Average Revenue Product of Capital, verage Revenue Product of Labor, and capital-labor ratios between Black- and White-owned firms. The reported findings indicate that Black-owned firms face lower consumer demand and credit supply compared to White-owned firms due to discrimination. Additionally, differences in capital supply between Black- and White-owned firms can be partially explained by racial disparities in wealth and business risk. Lastly, the researchers note that consumer demand disparities are insurmountable by Black individuals alone and remain robust over the entire sample period.

Consumer demand and credit supply as barriers to growth for Black-owned startups

This research brief examines the relationship between parental financial support, children's economic achievement, and race using data from the Panel Study of Income Dynamics (PSID) collected between 1982 and 2013. ​ The study compares the economic outcomes of White and Black individuals who received parental financial support for education, homeownership, or other reasons. ​ The findings show that parental support for education has the strongest positive association with children's economic achievement, reducing Black-White disparities in educational attainment and homeownership. ​ However, stark racial differences in income and net worth persist even among those who received financial support from parents. ​ The study highlights the importance of parental transfer of wealth for supporting children's education and the need for further research on intergenerational patterns of economic achievement among different racial and ethnic groups.

Bootstraps are for Black kids: race, wealth, and the impact of intergenerational transfers on adult outcomes

The report examines racial differences in neighborhood sorting patterns and access to high-socioeconomic status "opportunity neighborhoods" that provide resources for economic mobility. It finds that income alone does not explain why Black households live in lower-SES neighborhoods than white households at the same income level. Wealth also plays only a minor role. The key factor is that Black households tend to live in predominantly Black neighborhoods, which are lower-SES. This suggests ongoing racial discrimination or preferences by Black households are behind neighborhood sorting patterns, rather than just disparities in income or wealth. The report draws on data from the American Community Survey, the Panel Study of Income Dynamics, and the National Historical Geographic Information System.

The Racial Wealth Gap and Access to Opportunity Neighborhoods

This research report from the Urban Institute analyzed Home Mortgage Disclosure Act (HMDA) data and credit bureau data and found that credit history and debt-to-income (DTI) ratio are the most common reasons for mortgage denials among young Black applicants, even after controlling for income. Black applicants are more likely to be denied due to credit history issues, which can stem from student loan delinquencies or defaults impacting their credit scores.

Student Loan Debt and Access to Homeownership for Borrowers of Color

Reviews student debt borrowing between Black and White millennials

The emerging millennial wealth gap

This study analyzed historical redlining practices in the 1930s and their association with present-day asthma emergency department visit rates across eight cities in California. Using Home Owners' Loan Corporation (HOLC) security maps and census tract data from CalEnviroScreen 3.0, the researchers found that census tracts designated as "hazardous" or redlined by the HOLC, which were predominantly Black and immigrant neighborhoods, had significantly higher rates of asthma-related emergency department visits compared to non-redlined areas, even after adjusting for poverty, air pollution, and other factors. The findings highlight how discriminatory policies like redlining contributed to the concentration of social and environmental risk factors in Black communities, perpetuating racial disparities in asthma outcomes.

Associations between historical residential redlining and current age-adjusted rates of emergency department visits due to asthma across eight cities in California: an ecological study

The report analyzes homeownership support programs in Massachusetts, drawing on data from the U.S. Census Bureau, housing agencies like MassHousing and Massachusetts Housing Partnership, as well as focus groups and interviews. It finds that while the state has strong programs, high costs and complex processes still make homeownership difficult for many low- to moderate-income households, particularly Black and Latino families.

A Long Road Home: A Racial Equity Analysis of Homeownership Support Programs in Massachusetts

Researchers at the Brookings Institution tested whether commercial real estate is valued differently depending on the Black share of the population living in the area and compared these dynamics to residential real estate markets. Leveraging data from the Survey of Consumer Finances and a proprietary dataset of predictors of commercial real estate value, the authors found that in majority-Black ZIP codes, devaluation results in aggregate wealth losses of $235 billion for residential real estate and $171 billion for commercial real estate. They found no evidence of devaluation for office space.

The devaluation of assets in Black neighborhoods: The case of commercial property

This reportfrom the Real Estate Witch provides data on the true cost of homeownership in the United States for 2024. It presents figures on average annual expenses such as property taxes, mortgage payments, utilities, and homeowner's insurance across different income levels. The data sets used include average property taxes, mortgage payments, utility costs, and homeowner's insurance premiums for income ranges from less than $25,000 to over $100,000 per year.

The True Cost of Homeownership (2024 Data)

This commentary from the Brookings Institution argues that the student loan system is regressive, disproportionately burdening low-income and minority borrowers, particularly Black households who hold more debt and experience lower returns on education. It highlights research from Brookings Fellow Louise Seamster and others that show this racial debt gap, with the median Black borrower owing 95% of their original loan after 20 years, compared to near full repayment by white borrowers. The regressive structure of student loans and rising balances, exacerbated by interest and systemic inequities, trap many in long-term debt, challenging incremental reforms like income-derived repayment programs.

A regressive student loan system results in costly racial disparities

This research report from the National Community Reinvestment Coalition examined the racial disparities in entrepreneurship and the economic challenges faced by Black-owned businesses, which were concentrated in lower-revenue industries and had less access to capital and credit. It cites data showing that Black entrepreneurs relied more on personal funds, had lower credit scores, and received less COVID-19 relief aid like PPP loans.

Black entrepreneurship’s lethal pre-existing condition: the racial wealth divide during the COVID crisis

Leveraging the U.S. Census Bureau's Household Pulse Survey, researchers examined racial and ethnic differences in mortgage payment difficulties during the COVID-19 pandemic and found that unemployed Black households had more missed mortgage payments during the COVID-19 pandemic and reported more worries about future payments than their White counterparts.

Racial disparities in unemployment benefits among U.S. mortgage borrowers during COVID-19

Researchers at Brookings Institute examine the staggering racial disparities in wealth in the United States, highlighting that the net worth of a typical White family is nearly ten times greater than that of a Black family ($171,000 vs $17,150 in 2016). It traces the historical roots of this wealth gap, including slavery, discriminatory policies, and unequal monetary inheritances.

Examining the Black-White wealth gap

The 2024 Kent County Housing Report from the Fair Housing Center of West Michigan (FHCWM) analyzes mortgage lending disparities and declining homeownership rates for Black and Hispanic households in Kent County, Michigan. It uses data from the Home Mortgage Disclosure Act (HMDA), U.S. Census Bureau, Zillow Home Value Index, and National Historic GIS. The report highlights widening racial gaps in homeownership, gentrification patterns displacing residents of color, lack of affordable housing, and inequitable lending practices by major mortgage lenders as contributing factors.

The State of Housing and Fair Lending in Kent County

This blog from the Brookings Institution details a methodology developed in collaboration with the NAACP to measure Black progress at the county level. Utilizing data from the University of Wisconsin's County Health Rankings, the Black Progress Index aims to predict county-level Black life expectancy at birth based on various factors, including education levels, family structure, income levels, and more. The index covers over 800 counties across the U.S., highlighting the top and bottom performers for Black life expectancy.

The Black Progress Index: Examining the social factors that influence Black well-being

This report analyzes racial disparities in entrepreneurship in the United States, using data from the 2012 and 2016 Annual Survey of Entrepreneurs (ASE) and the 2012 Survey of Business Owners (SBO) by the U.S. Census Bureau. It finds that Black business owners are more likely to start new businesses by founding a new enterprise, while White business owners are more likely to acquire existing businesses through purchase, inheritance, or transfer. Black-owned businesses also tend to use less start-up capital, be younger in age, and generate lower sales and employee salaries compared to White-owned businesses. The authors suggest that these disparities may be linked to the racial wealth gap and historical injustices that have disadvantaged Black Americans in accumulating wealth and accessing capital.

Entering Entrepreneurship: Racial Disparities in the Pathways into Business Ownership

This set of WEB tables trend data on nonfederal grant and scholarship aid awarded to undergraduate students between 2003-04 and 2015-16. It covers the percentage of undergraduates receiving aid from state, institutional, and private sources, as well as the average amounts received by aid type and student characteristics. The estimates are based on data from the National Postsecondary Student Aid Study (NPSAS) administrations in 2004, 2008, 2012, and 2016, conducted by the National Center for Education Statistics (NCES).

Trends in undergraduate nonfederal grant and scholarship aid by demographic and enrollment characteristics: selected years, 2003–04 to 2015–16

This study examines how much childhood wealth and childhood income mediate Black-White disadvantages in adult life chances accross 18 domains using data from the Panel Study of Income Dynamics (PSID) and the Cross-National Equivalent File (CNEF) on children from the 1980s and 1990s who were 30 or older in 2015. The authors find large Black-White disadvantages across various outcomes, and childhood wealth and income explain a significant share of most disadvantages. Overall, evidence shows that childhood income explains more of the Black-White disadvantages and has larger effects than childhood wealth for most outcomes.

The Inheritance of Race Revisited: Childhood Wealth and Income and Black–White Disadvantages in Adult Life Chances

This study examines whether minority-owned enterprises (MOEs) are more likely to apply for and receive loans from Community Development Financial Institutions (CDFIs) compared to non-minority-owned businesses. The researchers use data from the Federal Reserve Banks' Small Business Credit Survey (SBCS) for 2016-2019 to analyze application and approval rates. They find that Black- and Hispanic-owned firms are more likely to apply for CDFI loans than White-owned businesses, but Black-owned firms may be less likely to be approved. The study also notes that rural Black-owned firms are significantly less likely to apply to CDFIs compared to urban Black-owned firms.

Minority-Owned Enterprises and Access to Capital from Community Development Financial Institutions

This short read from Pew Research Center highlights the disproportionate impact of COVID-19 on Black Americans based on survey data. Results show that Black adults were more likely to personally know someone hospitalized or who died from COVID-19, had higher rates of job and wage losses, and faced greater difficulties paying bills compared to White adults.

Financial and health impacts of COVID-19 vary widely by race and ethnicity

This report examines the rise of "data capitalism" and how it exacerbates racial and economic inequity. It argues that data capitalism has roots in slavery and scientific racism, as systems to control, surveil, and extract profit from Black lives. Today, data capitalism manifests through workplace surveillance and algorithmic management that disempowers workers; predatory targeted advertising and biased algorithms like credit scores that perpetuate racism in the consumer marketplace; and automated public benefits systems and predictive policing tools that disadvantage Black communities.

Data Capitalism + Algorithmic Racism

This 2023 Report on Employer Firms from the Federal Reserve Banks' Small Business Credit Survey (SBCS) presents findings from a survey of nearly 8,000 small employer firms across the United States conducted between September and November 2022. The report covers topics such as firm performance, challenges, financing needs and experiences, and demographic characteristics of small businesses. It finds that Black-owned businesses were the least likely to be “fully approved” for “loans, lines of credit, and cash advances.” The data sources used for the report include the SBCS survey responses and data from the U.S. Census Bureau.

2023 Report on Employer Firms: Findings from the 2022 Small Business Credit Survey.

This study aimed to describe how structural racism and sexism shape the employment trajectories of Black women in the U.S. healthcare system. Using data from the American Community Survey, the authors found that Black women are more overrepresented in healthcare than any other demographic group and are heavily concentrated in some of its lowest-wage and most hazardous jobs. They link their findings regarding Black women’s positions in the labor force to the historical legacies of sexism and racism, dating back to the division of care work during slavery and domestic service.

Structural Racism And Black Women’s Employment In The US Health Care Sector

Using data from the Health and Retirement Study (HRS), researchers examine retirement savings of Black, White, and Hispanic households aged 51-56 between 1992 and 2016. They findings indicate the importance of Social Security-Black households' retirement savings was 46 percent of White households when Social Security is included and just 14 percent without Social Security.

Measuring Racial/Ethnic Retirement Wealth Inequality

This blog discusses the persistence of the racial homeownership gap in America, noting that the gap between Black and white households is wider today than in 1960. Citing recent analysis using Panel Study of Income Dynamics (PSID) data, it identifies three key patterns contributing to the housing wealth gap: Black homebuyers purchase less expensive first homes with more debt, buy homes later in life, and are less likely to sustain homeownership compared to white households.

Three differences between Black and White homeownership that add to the housing wealth gap

This press release from Zillow provides a summary of disparities in homeownership rates and mortgage denials between Black and White households in the United States, citing data from the Home Mortgage Disclosure Act and Zillow Research. It highlights that nearly 1 in 4 Black mortgage applicants are denied, primarily due to credit history issues, compared to 1 in 10 White applicants. The report also discusses the wealth gap between Black and White families, attributing a significant portion of it to disparities in home values and ownership.

Black homeownership rate rises, but hasn't returned to 2004 level

This blog from the Federal Reserve Bank of St. Louis, leveraging Federal Reserve Board’s Distributional Financial Accounts, examines COVID-19's impact on US wealth and inequality. The blog reveals ongoing racial gaps in wealth, improved millennial wealth, and growing inequality due to education.

The Real State of Family Wealth: Will COVID-19 Worsen Racial, Educational and Generational Gaps in the U.S.?

This commentary argues against the notion of using a singular, uniform climate policy to address environmental justice issues in the United States. Instead, the author describes a more nuanced and context-specific approach to tackle environmental challenges faced by marginalized communities and takes into account racial equity.

The US can’t achieve environmental justice through one-size-fits-all climate policy

This research paper uses confidential Home Mortgage Disclosure Act (HMDA) data from 2018 to 2021 to estimate racial and ethnic disparities in mortgage application denials for conventional 30-year mortgages. The authors find that Black applicants are 2.8 percentage points more likely to be denied compared to White applicants, while Asian and Latinx applicants are 2.1 and 1.4 percentage points more likely to be denied, respectively, even after controlling for credit scores and other factors. The disparities vary across lender types, with independent mortgage companies having lower denial rates and smaller racial gaps compared to other lenders.

The Role of Race in Mortgage Application Denials

Researchers analyzed home price appreciation data from 2000-2003 and 2014-2016 in metropolitan Atlanta, Georgia to examine how neighborhood racial and income characteristics structured price changes before and after the housing crisis. They found that home prices increased across all majority-white and racially diverse neighborhoods regardless of income level, while prices decreased across all majority-Black neighborhoods regardless of income.

Racial Appreciation Gap Limits Financial Benefits of Black Homeownership

 An analysis of consumer finance data describes wealth disparities among American households, finding that the average White family has 8x the wealth of an average Black family and 5x the wealth of an average Hispanic family.

Disparities in wealth by race and ethnicity in the 2019 Survey of Consumer Finances

This paper reviews literature on household energy insecurity, finding Black households disproportionately impacted due to economic and spatial inequalities like residential segregation and housing discrimination. The authors develop a model linking energy, poverty, health, and climate change, critiquing the literature for not adequately addressing disparities faced by Black communities regarding energy burden, inefficient housing, and vulnerability to extreme weather.

Energy, Poverty, and Health in Climate Change: A Comprehensive Review of an Emerging Literature

This research study examines whether Black men are the last hired during periods of economic growth and the first fired during recessions, using matched monthly Current Population Survey data from 1989 to 2004. It analyzes labor market transitions between employment, unemployment, and non-participation for prime-age Black and White men. The results provide considerable evidence that Black men are the first fired as the business cycle weakens, but no evidence that they are the last hired during periods of growth. Instead, Black men appear to be initially hired from the ranks of the unemployed early in the business cycle and later drawn from non-participation.

Last hired, first fired? Black-White unemployment and the business cycle

Researchers examined gender differences in homeownership in Philadelphia and Detroit by applying a gender prediction algorithm to local tax assessor data, American Community Survey zip code-level variables and the experiences of Black residents. They found higher rates of female sole ownership compared to male sole or mixed gender ownership in both cities, but also showed that sole female owners tended to own lower value properties located in less affluent neighborhoods. The brief highlighted the limitations of conventional survey data in accurately capturing gender differences in asset ownership within households.

Gender and Wealth in Demographic Research: A Research Brief on a New Method and Application

This article from New England Journal of Medicine discusses how health systems can play an important role in helping to close the racial wealth gap in the United States. It points to data from the Federal Reserve, National Bureau of Economic Research, and Centers for Disease Control and Prevention to highlight the large and persistent wealth disparities between Black and White families. The authors argue that health systems should implement strategies around reducing expenses, maximizing income, and decreasing debt/increasing savings for Black staff, patients, and communities as a way to address this wealth gap and its negative health impacts.

Building Black Wealth - The Role of Health Systems in Closing the Gap

Researchers estimate the impact of "blockbusting" on Black home values and the racial wealth gap in 60 major cities in the U.S. in the 1950s, 1960s, and 1970s.

Blockbusting and the Challenges Faced by Black Families in Building Wealth through Housing in the Postwar United States

Researchers examined the geospatial pattern of Covid-19 from a racial capitalism perspective. Leveraging data from the Louisiana Department of Health and American Community Survey, researchers found that racial income disparity between Black and White residents resulted in more Covid-19 cases in Louisiana parishes. Moreover, they found a rise in income had a buffering effect on Covid-19 severity.

Spatial Analysis of Racial Capitalism and COVID-19 in Louisiana

This paper presents and examines a newly constructed spatial database of nearly 4,000 properties in Philadelphia that had racially restrictive covenants in their deeds between 1920 and 1932 and their contributions to the a broad range of social outcomes including wealth inequity. Mapping the locations of these covenanted properties shows they formed invisible barriers around White neighborhoods and developments, likely intended to contain the migration of Black Americans. Preliminary analysis finds over 80% of covenants were in mid-grade neighborhoods as mapped by the 1937 Home Owners' Loan Corporation "redlining" assessment, suggesting racial composition was a key factor distinguishing these areas. The data sets used are historical property deeds and census demographic data at the ward and enumeration district levels for Philadelphia.

How Prevalent Were Racially Restrictive Covenants in 20th Century Philadelphia? A New Spatial Data Set Provides Answers

Drawing data from the National Longitudinal Survey of Youth 1997, researchers investigated the relationship between racial/ethnic differences in wealth-health associations during young adulthood. The findings indicate notable racial/ethnic differences in the patterning of wealth-health associations that appear to emerge in early adulthood.

Racial/ethnic differences in the relationship between wealth and health across young adulthood

The authors use Pitchbook's private venture capital data to examine access to patents and funding among Black-owned businesses; among other findings, Black-led partners "invest more often in Black entrepreneurs and are more successful when they do."

Funding Black High-Growth Startups

Outlines the impacts of COVID-19 on small businesses

Report on firms owned by people of color

This study examines racial disparities in the uptake of Paycheck Protection Program (PPP) loans among restaurants in Florida during the COVID-19 pandemic, using data from Florida restaurant licenses, corporate records, voter registration, Yelp, and SBA loan records. The results show significant disparities, with Black-owned restaurants being much less likely to receive PPP loans, especially from banks, compared to White-owned restaurants, even after controlling for various factors like location and restaurant characteristics. The disparities are larger in counties with higher levels of racial bias against Black people, as measured by implicit association tests. The findings suggest that racial bias played a role in limiting access to PPP loans for minority-owned businesses during the pandemic.

Racial Disparities in the Paycheck Protection Program

Researchers using data from the Survey of Consumer Finances (2004–2016) focused on wealth inequity in households with children and found that the racial wealth gap is widening at a faster rate compared to the general population. In 2016, Black households with children had just one cent for every dollar of White households with children.

A Penny on the Dollar: Racial Inequalities in Wealth among Households with Children

This interactive map explores property sales data in Detroit and is presented as a supplement to a report aimed at understanding the “missing middle,” homes priced too high for most buyers to purchase with cash or personal loans, but too low to qualify for traditional mortgage financing. The project was supported by the Black Wealth Data Center.

Property Sales - An Analysis of Detroit's "Missing Middle"

This blog outlines various areas where data and data analysis could help illustrate and address racial inequities, particularly against Black communities in the United States. It covers topics such as criminal justice, economic, health, and social justice inequities.

How data can map and make racial inequality more visible (if done responsibly)

This report, leveraging data from the American Housing Survey (AHS) and the Residential Energy Consumption Survey (RECS), examines the role of housing condition on Black homeowner wealth and health disparities. The authors find that Black homeowners are more likely to live in physically inadequate housing, experience lower property values due to housing inadequacy, face higher utility costs which contribute to financial instability, and health risks as a result of compromises made to mitigate energy cost burdens.

Implications of Housing Conditions for Racial Wealth and Health Disparities

Toolkit describing resources needed to center racial equity throughout the data life cycle (e.g. planning, data collection, data access, use of algorithms/statistical tools, data analysis, reporting and dissemination.

A Toolkit for Centering Racial Equity Throughout Data Integration

In this Urban Institute blog, research analysis of homeownership rates in the wake of COVID-19 using the 2021 ACS finds that while Black homeownership rates fell significantly during the Great Recession, there were some small gains between 2019 and 2021. However, the authors raise concerns that high inflation and high housing costs threaten these gains.

New Data Show Black and Latino Homeownership Rates Increased during the Pandemic

Researchers at the Urban Institute examined racial disparities in the accuracy of automated valuation models (AVMs) used to estimate home values. They analyzed property records data and American Community Survey data for Atlanta, Memphis, and Washington D.C. to compare AVM estimates with actual sales prices in majority-Black and majority-White neighborhoods. They found that while the directional inaccuracy of AVMs does not differ significantly by neighborhood racial composition, the percentage magnitude of inaccuracy is much higher in majority-Black neighborhoods due to factors like lower home values, greater property heterogeneity, more distressed sales, and lower incomes in those areas.

How Automated Valuation Models Can Disproportionately Affect Majority-Black Neighborhoods

This article discusses the underrepresentation of Black businesses in the U.S. and the various structural barriers contributing to this issue, such as lack of access to capital, limited wealth accumulation opportunities, and discriminatory lending practices. Additionally, it notes that the devaluation of property in Black neighborhoods, consumer avoidance of Black businesses, and lack of procurement opportunities are factors hindering Black entrepreneurship. The authors analyze data from the American Business Survey, the Survey of Income and Program Participation, and Gallup to highlight disparities in business ownership, revenue, and employee pay between Black and non-Black businesses.

To expand the economy, invest in Black businesses

Researchers analyze data from Annual Business Survey and the Brookings Black Progress Index and find that an equitable rate of Black businesses in metro areas is associated with higher Black wellbeing, as measured by their Brookings' Black Progress Index. They also find that 67% of metropolitan areas studied have shown increases in Black-owned businesses in the last 6 years. The authors highlight policies and initiatives that foster the growth and success of Black entrepreneurship to address economic disparities and promote equity.

To increase Black well-being, look to an equitable share of Black-owned employer businesses

Using data from the Current Population Survey, the author examines the link between the economy and racial wage discrimination among Black, Hispanic, and Asian workers. The author finds that the wage discrimination Black workers face is more "rigid" while that of Hispanics and Asians is "more flexible and responsive to economic conditions. "

The (In)Flexibility of Racial Discrimination: Labor Market Context and the Racial Wage Gap in the United States, 2000 to 2021

The study examines how air pollution exposure and poor housing conditions during pregnancy contribute to adverse birth outcomes among Black mothers in Wisconsin. Leveraging birth records data along with air pollution data from the Environmental Protection Agency, housing data from the American Community Survey, and healthcare access data, the results showed that increased exposure to ozone and living in housing where a high percentage of households were cost-burdened (paying 30% or more of income on housing costs) were associated with lower birth weights, shorter gestations, and higher rates of NICU admission for infants born to Black mothers. Poor-quality housing stock in a neighborhood also contributed to shorter gestations among Black mothers. The disproportionate exposure to environmental pollutants and disadvantaged housing circumstances experienced by Black communities likely plays a major role in persistent racial inequities in adverse birth outcomes.

Ambient Air Pollution, Housing Context, and Birth Outcomes Among Wisconsin Mothers

The article uses data on nearly 150,000 small businesses to analyze differences in financial outcomes and survival rates by the race of the business owner. It finds that Black-owned small businesses are well-represented among firms that grow organically without financing, but underrepresented among those using external financing. These businesses face lower revenues, profit margins, and cash reserves compared to White-owned firms. Firms with Black owners have the highest exit rates in the first few years after founding, especially those with younger owners. However, businesses with comparable revenues and cash liquidity have similar chances of survival regardless of owner's race. The analysis uses administrative banking data from Chase small business accounts from 2013-2019, matched to voter registration records in Florida, Georgia, and Louisiana to identify owner race.

Small Business Owner Race, Liquidity, and Survival

This report discusses the racial disparities in COVID-19 infection and death rates in Detroit, specifically focusing on the higher rates among Black residents. It highlights the impact of systemic racism and provides recommendations for addressing these disparities. The data is derived from various sources, including the U.S. Census American Community Survey, SBA Paycheck Protection Program Loan Level Data, City of Detroit Health Department, Michigan Department of Health and Human Services, Michigan Bureau of Labor Market Information and Strategic Initiatives, Wayne County Treasurer’s Office, Princeton Eviction Lab, Detroit Metro Area Communities Study (DMACS), and Data Driven Detroit.

Examining and addressing COVID-19 racial disparities in Detroit

Researchers using data from the 2019 Survey of Consumer Finances, found that Black women have the lowest median net worth ($5,300) compared to other race-gender groups, largely explained by structural barriers like lower income, lack of business ownership, underrepresentation in managerial jobs, and high student loan debt.

Deconstructing the Intergenerational, Structural, and Cultural Factors Contributing to Black Women's Wealth

Micheal Neal and collegues at the Urban Institute leverage data from the 2022 Survey of Consumer Finances to examine the potential impact of the "Great Wealth Transfer" on the Black-White homeownership gap. They find that younger Black families, especially renters, are least likely to benefit from inheritances, which could further widen the existing homeownership disparity between Black and White households. The report suggests policy interventions like down payment assistance, mortgage rate buydowns, and expanding affordable housing supply to ensure access to homeownership for families not benefiting from intergenerational wealth transfers.

Potential Implications of the Great Wealth Transfer for the Black-White Homeownership Rate Gap

This report summarizes findings from the 2020 Small Business Credit Survey conducted by the Federal Reserve Banks. It focuses on the experiences of nonemployer firms - businesses with no employees other than the owner(s) - during the COVID-19 pandemic. The data is based on 4,531 survey responses from nonemployer firms, as well as 9,693 responses from employer firms with 1-499 employees for comparison. The report draws data from the 2020 Small Business Credit Survey fielded in September-October 2020, as well as some historical data from prior years' surveys.

2021 Report on Nonemployer Firms Based on the Small Business Credit Survey

Using 2020 Yelp data, researchers find that businesses that added an identification of "Black-owned" or "minority-owned" experience heightened customer interest in the form of page views, calls, and orders.

Black Ownership Matters: Does Revealing Race Increase Demand For Minority-Owned Businesses?

This report examines rural employment disparities by race, ethnicity, and region in the United States, using data from the U.S. Census Bureau's American Community Survey and the U.S. Department of Agriculture's County Typology Codes. It finds that Black and American Indian and Alaska Native men and women have significantly lower employment rates in non-metropolitan areas compared to their metropolitan peers. The analysis also reveals substantial regional differences in the metropolitan-nonmetropolitan employment gap across racial and ethnic groups.

Rural Employment Disparities by Race, Ethnicity, and Region

This essay explores the intersectionality of race and gender, focusing on the challenges faced by Black women in negotiating fair salaries. Black women often encounter gendered racism, leading to lower wages and barriers in salary negotiations. Stereotypes, such as the "angry Black woman," may influence negotiation strategies. The systemic issues go beyond negotiations, encompassing factors like occupational segregation and discriminatory perceptions that contribute to the persistent earnings gap between Black women and other groups. Despite their significant contributions to the labor force, Black women continue to struggle for economic parity, highlighting the need to address structural barriers and promote equitable salary negotiation practices.

Pay Inequities among Black Women

The report analyzes data from the City of Detroit Office of the Assessor, the Wayne County Register of Deeds, and the American Community Survey to estimate the growth in housing wealth in Detroit from 2014 to 2022, following the city's bankruptcy. The key finding is that the net value of owner-occupied homes owned by Black homeowners increased from $3.4 billion in 2014 to $6.2 billion in 2022, an 80% increase. This increase represents the largest share (77% in 2022) of the total $3.9 billion growth in housing wealth citywide over this period. The analysis centers on the experiences of Black Detroiters, who were deeply impacted by the housing crisis and bankruptcy, by examining how the recovery in home values benefited this community relative to others.

The Growth of Housing Wealth in Detroit and Its Neighborhoods: 2014-2022

This Report discusses the Black student loan crisis and the need for debt cancellation as a matter of racial justice. ​ The study conducted by The Education Trust surveyed 1,272 Black borrowers and found that 80% of them support government forgiveness of all student debt. ​ The study also highlights the disproportionate impact of the COVID-19 pandemic on Black borrowers and the urgent need for debt cancellation to address ongoing racial wrongs. ​ The findings of the National Black Student Loan Debt Study, which surveyed nearly 1,300 Black borrowers and conducted in-depth interviews with 100 of them, are also discussed. ​ The data sources used in the document include survey responses from Black borrowers, interviews, and previous research on the Black student debt crisis. ​

Jim Crow Debt: How Black Borrowers Experience Student Loan Debt

The 2020 Ariel Investments/Charles Schwab Black Investor Survey reveals disparities in savings and investing habits between middle-class Black and White Americans. While both groups showed increasing interest in the stock market, there remains a significant gap in participation rates, with Black Americans lagging behind. Despite a positive trend in 401(k) participation, differences in savings rates persist, with White participants contributing more. Trust issues in the financial services industry also hinder Black Americans' participation. The pandemic exacerbated financial challenges, with Black Americans more likely to tap into savings and seek financial support. Yet, despite these hurdles, Black Americans maintain optimism about their financial futures, driven by increased discussions about investing within families and a growing interest among younger generations.

Black Investor Survey 2020

This report from the Center for American Progress (CAP) examines the persistent racial disparities in the U.S. labor market, showing that despite record-low unemployment rates, Black workers continue to face higher unemployment, fewer job opportunities, lower wages, poorer benefits, and greater job instability compared to their White counterparts. The analysis draws on data from the U.S. Bureau of Labor Statistics, the Employee Benefits Research Institute, and the U.S. Census Bureau.

African Americans face systematic obstacles to getting good jobs

Researchers leverage administrative banking data matched with 2018 voter registration data across Florida, Georgia, and Louisiana to explore financial emergencies, spending, and liquid assets among Black, Hispanic, and White families. The study highlights that Black and Hispanic families have significantly lower liquid assets and take-home income compared to White families. These disparities lead to greater consumption cuts during income drops and higher spending spikes following tax refunds for Black and Hispanic families.

Racial Gaps in Financial Outcomes: Big Data Evidence

Researchers at the Urban Institute examine the impact of economic stressors and natural disasters to understand how homeowners of color may be disproportionately affected by COVID-19. Leveraging data from the Survey of Consumer Finances, the Bureau of Labor Statistics, and the U.S. Department of Housing and Urban Development, they demonstrate how people of color, particularly Black individuals, fare far worse during economic downturns and following disasters. They conclude that the COVID-19 pandemic could have similarly deleterious effects on Black people and communities of color.

How Economic Crises and Sudden Disasters Increase Racial Disparities in Homeownership

This paper utilizes data from the Health and Retirement Study (HRS) and the Survey of Consumer Finances (SCF) to examine wealth accumulation among American households approaching retirement. It reveals that for Black non-Hispanic households, Social Security wealth is vital for retirement security, constituting approximately 40% of their net wealth in both 1992 and 2016. However, Black non-Hispanic households experienced significant declines in home equity (a decrease of $34,400) and retirement benefit wealth (a decrease of $69,200) between 1992 and 2016, underscoring the importance of social insurance in addressing racial wealth disparities.

No Rest for the Weary: Measuring the Changing Distribution of Retirement Wealth in the United States

This report examines the trends in household wealth and income inequality in the United States from the 1960s to 2013. Using datasets from the Survey of Consumer Finances (SCF), the Bureau of Labor Statistics (BLS), and the Economic Report of the President, the analysis focuses on changes in household wealth and income distribution. The findings indicate that Black households were disproportionately affected by the housing market collapse. The homeownership rate for Black households was 49% in 2007, lower than that of White households, and the percentage of Black households with zero or negative net worth stood at 33.4%, more than double the corresponding percentage among Whites.

Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?

This blog discusses the importance of using data to advance racial equity in government policies and services. It highlights how historical practices such as urban renewal and redlining perpetuated segregation and racism, and how disaggregated data can reveal ongoing inequities, like the mapping of pedestrian deaths in formerly redlined neighborhoods in Los Angeles. The article suggests best practices for collecting high-quality data through focus groups, interviews, and surveys, while being mindful of potential biases.

Using data to advance equity

Researchers explore the financial returns and risks associated with owning a home using data from Zillow. They focus on the annual percentage change in home prices from 2003 to 2016, as well as the value of homes and the internal rate of return on equity with tax benefits for different cities. The authors also highlight additional risks and benefits of homeownership, such as the concentration of wealth, lock-in effects, and homeownership as a method for disciplined savings.

Homeownership and the American dream

The blog highlights a racial ownership gap in commercial real estate (CRE), with only 3% of Black households owning nonresidential CRE, compared to 8% of white households. This gap contributes to a substantial wealth disparity, as the average white household owns $34,000 of nonresidential CRE, while the average Black household owns just $3,600. The undervaluation of retail space in majority-Black ZIP codes is estimated to result in aggregate wealth losses of $171 billion, creating a significant hurdle for Black wealth-building.

Introducing the Buy Back the Block Lab: Building Black wealth through community real estate ownership

This examines the convergence of economic and health disparities that Black Americans face as they age, leading to a dismal outlook in their final years. It discusses the historical roots of racial disparities, such as redlining and discrimination in housing and employment, resulting in lower income, wealth, and access to healthcare for Black elders. The article cites data from the Black Wealth Data Center, National Women's Law Center, CIGNA, and the U.S. Department of Health and Human Services' Office of Minority Health to support its claims.

With Age, Blacks Fall Into Poverty as Their Health Worsens

This study examines how the rise of institutional single-family rental investors has impacted homeownership rates in the Atlanta metropolitan area from 2007-2016. Using property transaction data from CoreLogic/DataQuick, demographic data from the American Community Survey, and foreclosure risk scores from HUD, the author finds that concentrated investment by large corporate investors (those purchasing over 50 properties per year) significantly reduced local homeownership rates, particularly for Black residents. The effect was not found for smaller corporate investors. The author estimates this led to billions of dollars in lost home equity for communities, with Black homeowners disproportionately affected.

The Influence of Institutional Single-Family Rental Investors on Homeownership: Who Gets Targeted and Pushed Out of the Local Market?

The report, leveraging data from the Federal Reserve's Survey of Consumer Finances, discusses the essential role of down payment assistance in closing the racial homeownership and wealth gaps in the United States. The authors argue that providing robust down payment assistance targeted at first-generation Black homebuyers is essential to addressing the systemic barriers and discriminatory policies that have locked people of color out of homeownership and wealth-building opportunities.

An Essential Role for Down Payment Assistance in Closing America’s Racial Homeownership and Wealth Gaps

Researchers conduct 19 interviews with Black entrepreneurs to examine how they use racial counterframes (perspectives that challenge racist ideologies, stereotypes, and beliefs that disparage people of color and unjustly advantage whites) and intersectional counterframes (perspectives that critique how race intersects with other categories of identity and oppression such as gender and class to shape policies, structures, and behaviors that maintain hierarchies) to make sense of and respond to discrimination through business ownership. The counterframes critique racial, gender, and class biases and hierarchies. The data sources are 19 in-depth interviews conducted with black entrepreneurs in 5 U.S. cities: metropolitan cities in the mid-Atlantic, Southern, and Western United States.

Race, gender, and class in entrepreneurship: intersectional counterframes and black business owners

This study examined racial disparities in unemployment among health care workers like nurses, physician assistants, and medical assistants before, during, and after the COVID-19 pandemic using data from the Current Population Survey from 2018-2022. The author found that unemployment increased the most in 2020 for Black and Native American health care workers compared to other racial/ethnic groups. While unemployment rates returned closer to pre-pandemic levels by 2022 for most groups, they remained significantly higher for Black health care workers.

Examining Racial Disparities in Unemployment Among Health Care Workers Before, During, and After the COVID-19 Pandemic

This report examines how racial and gender wage gaps faced by Black women in the US workforce impact their ability to accumulate wealth. It discusses how the "double gap" in wages constrains Black women's earnings and thus their ability to save, reduce debt, and accumulate assets, while certain expenditures like childcare also drain potential savings. The analysis shows Black women have the lowest median wealth levels of any racial/ethnic and gender group. Quantitatively, the brief notes Black women working full-time earn just 71 cents for every dollar earned by White men and face 29% higher childcare costs on average as single mothers compared to single White mothers.

How Do Wage Gaps Affect Black Women's Wealth Attainment, and Where Do Expenditures Fit In?

Resource Library Page

The resource library provides a curated collection of articles, blogs, case studies, and reports that explore the subject of Black wealth.

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