Private Latino wealth in the US

From a McKinsey study of Latinos in America:Latino wealth has grown by an average of around 7 percent annually for the past 20 years, more than twice the rate of non-Latino White wealth. Wealth is also increasing by generation, especially from the first generation to the second.

Yet — the median wealth of Latino households in 2019 was about $36,000, just one-fifth of the median $188,200 held by their White peers. Latino families are also significantly more likely to have a zero or negative net worth.  Only around 3 percent of Latino families are worth more than $1 million, compared with 16 percent of White households.

Go here for much more information about Hispanic wealth. From here —

Home as financial asset: In 2019, the homeownership rate for Latino Americans was 47.5%, much lower than the national homeownership rate of 64.9% and much lower than the non-Hispanic White American homeownership rate of 73.4%. Latino homeownership fluctuated between 45% and 49% between 2000 and 2020. However, Latinos have accounted for over 50% of US homeownership growth in the past 10 years. Nearly one in three Latinos is within the “prime homebuying years” of 25 – 44, meaning this age group will likely drive the projected Latino homeownership growth over the next 20 years.

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