Wealth gap widens between whites and minoritiesPosted: Updated:
KENNEWICK, Wash. -- Census data shows the wealth gap between whites and minorities keeps widening. It is the widest gap we've had in a quarter century in the country. White households on average have 20 times the net worth of Hispanic households.
The median wealth of white U.S. households in 2009 was $113,149, compared with $6,325 for Hispanics and $5,677 for blacks, according to the analysis released by the Pew Research Center last week.
Those ratios, roughly 20 to 1 for blacks and 18 to 1 for Hispanics, far exceed the low mark of 7 to 1 for both groups reached in 1995, when the nation's economic expansion lifted many low-income groups to the middle class.
That gap is less severe but still significant in the Tri-Cities. Medium household income difference between Hispanic race and all other races in the Kennewick, Pasco Richland (KPR) area shows that Hispanic race has about 24.2% lower income then medium household income of all races.
A white householder who lives in (KPR) makes an average of $57,335 and in Franklin County that number is $52,289. A Hispanic household at KPR drops to $40,9421 and $37,161 in Franklin County.
Also, results show that Hispanic race households have 28.6% lower household income then White race households.
Of all surrounding areas, Spokane County and Spokane Metro Area had the smallest difference in medium household income for Hispanic race.