How financially secure are American households, and who is benefiting from recent wealth gains? A new analysis from the Federal Reserve Bank of Boston’s Racial Wealth Equity Resource Center examines findings from the Federal Reserve’s 2025 Survey of Consumer Finances, revealing a widening divide in household wealth and growing financial pressures for many families.
While median household wealth increased 7% between 2022 and 2025, the gains were unevenly distributed. The analysis identifies several important trends:
- Wealth is growing more slowly. Median household wealth increased by just over $5,000, or 7%, between 2022 and 2025, the slowest growth rate since 2013.
- Racial wealth disparities are widening. Black households were the only racial or ethnic group to experience a decline in median wealth, falling 25% to $36,000. The White-to-Black median wealth ratio increased from approximately six to one in 2022 to more than nine to one in 2025.
- Credit card balances are rising. Median credit card debt increased for nearly every racial and ethnic group, with White and Black households reaching balance levels not seen since 2013.