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The U.S. Census Bureau has released new data on the debt held by U.S. households. It may come as a surprise to many readers that White households have far more debt than Black households. The median debt held by White households in 2019 was $75,300 compared to $28,200 for Black households. The median figure shows the amount where half of all families have debt more than that amount and half have less. The average, or mean, debt of White households in 2019 was $147,500 compared to $98,200 for Blacks. White households were twice as likely as Black households to have debt of more than $500,000.

For those families that own their home, the median mortgage debt is similar: $135,000 for non-Hispanic White households and $121,000 for Blacks.

Whites have median credit card debt of $4,000 compared to $3,000 for Blacks. Blacks were slightly more likely than White to hold credit card debt.

Read more: https://www.census.gov/data/tables/2019/demo/wealth/wealth-asset-ownership.html

 

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