WalletHub Study: 2015’s States with the Highest and Lowest Financial Gaps by Race

Feb 6, 2015 | U.S. & International

With February being Black History Month and the wealth gap between white and black Americans reaching its highest level since 1989, the leading personal finance social network WalletHub is raising awareness on the issue by releasing its report on 2015’s States with the Highest & Lowest Financial Gaps by Race/Ethnicity.

To measure the financial inequality among racial groups in the U.S., WalletHub analyzed the 50 states and the District of Columbia across 21 key metrics, ranging from the median household income gap to the unemployment rate gap.

States with the Lowest Financial Gaps by Race/Ethnicity

  • 1 Florida
  • 2 West Virginia
  • 3 Vermont
  • 4 Alaska
  • 5 Hawaii
  • T-6 Kentucky
  • T-6 New Mexico
  • 8 New Hampshire
  • 9 Montana
  • 10 Missouri
States with the Highest Financial Gaps by Race/Ethnicity
  • 42 South Dakota
  • 43 Massachusetts
  • 44 Illinois
  • 45 District of Columbia
  • 46 Connecticut
  • 47 Iowa
  • 48 Wisconsin
  • 49 Nebraska
  • 50 Rhode Island
  • 51 Minnesota

Key Stats
The highest median household income gap is five times higher in the District of Columbia than in Vermont.

The highest homeownership rate gap is three times higher in North Dakota than in New Mexico.

The highest poverty rate gap is six times higher in Connecticut than in Hawaii.

The highest educational attainment gap among people with at least a bachelor’s degree is five times higher in the District of Columbia than in Vermont.

To read the full report and to see where your state ranks, please visit: http://wallethub.com/edu/states-with-the-highest-and-lowest-financial-gaps-by-race/9842/

-PRESS RELEASE-

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