With black Americans having a median household wealth of $14,100, compared to $187,300 for non-Hispanic white households, the personal-finance website WalletHub today released its report on 2023’s States with the Biggest & Smallest Wealth Gaps by Race/Ethnicity, as well as expert commentary.
To measure the wealth inequality among racial groups in the U.S., WalletHub compared the 50 states and the District of Columbia across 21 key metrics, ranging from the median household income gap to the unemployment rate gap.
| Biggest Racial Wealth Gaps | Smallest Racial Wealth Gaps |
| 1. District of Columbia | 42. Virginia |
| 2. Wisconsin | 43. Wyoming |
| 3. Minnesota | 44. Kentucky |
| 4. North Dakota | 45. New Mexico |
| 5. Nebraska | 46. Maine |
| 6. Massachusetts | 47. Montana |
| 7. Iowa | 48. Florida |
| 8. Connecticut | 49. Alaska |
| 9. Rhode Island | 50. Hawaii |
| 10. Illinois | 51. West Virginia |
Best vs. Worst
- The highest median household income gap is five times higher in the District of Columbia than in Hawaii.
- The highest homeownership rate gap is three times higher in North Dakota than in Maryland.
- The highest poverty rate gap is nine times higher in the District of Columbia than in Hawaii.
- The highest uninsured rate gap is 21 times higher in Maryland than in Hawaii.
