Distribution of housing wealth (primary and nonprimary), by household characteristics
| 1989 | 1998 | 2007 | 2016 | 1989–2016 change | |
|---|---|---|---|---|---|
| Primary residence | |||||
| Bottom 50 percent | 9.8% | 14.3% | 12.7% | 10.4% | 0.7% |
| Bottom 80 percent | 45.4% | 47.5% | 44.0% | 40.0% | -5.4% |
| Top 20 percent | 54.6% | 52.5% | 56.0% | 60.0% | 5.4% |
| 80th–90th percentile | 19.9% | 17.9% | 17.5% | 18.6% | -1.3% |
| 90th–95th percentile | 12.6% | 11.6% | 11.0% | 13.9% | 1.3% |
| 96th–99th percentile | 15.6% | 15.0% | 18.2% | 16.8% | 1.2% |
| Top 1 percent | 6.5% | 8.0% | 9.3% | 10.7% | 4.3% |
| Nonprimary residential property | |||||
| Bottom 50 percent | 2.6% | 4.3% | 2.2% | 1.6% | -1.0% |
| Bottom 80 percent | 16.8% | 18.1% | 13.9% | 9.9% | -6.9% |
| Top 20 percent | 83.2% | 81.9% | 86.1% | 90.1% | 6.9% |
| 80th–90th percentile | 15.2% | 16.8% | 10.7% | 12.6% | -2.7% |
| 90th–95th percentile | 20.6% | 15.5% | 13.9% | 14.9% | -5.7% |
| 96th–99th percentile | 28.7% | 28.7% | 34.0% | 29.6% | 0.9% |
| Top 1 percent | 18.6% | 21.0% | 27.5% | 32.9% | 14.3% |
| Primary residence | |||||
| White, non-Hispanic | 86.4% | 87.5% | 82.6% | 80.6% | -5.9% |
| Black, non-Hispanic | 4.9% | 5.0% | 6.2% | 6.5% | 1.6% |
| Hispanic, any race | 4.1% | 3.7% | 6.1% | 6.0% | 2.0% |
| Other | 4.6% | 3.7% | 5.1% | 6.9% | 2.3% |
| Nonprimary residential property | |||||
| White, non-Hispanic | 87.3% | 89.5% | 84.2% | 86.2% | -1.1% |
| Black, non-Hispanic | 4.3% | 4.1% | 4.1% | 5.0% | 0.7% |
| Hispanic, any race | 3.1% | 3.4% | 6.7% | 3.6% | 0.5% |
| Other | 5.3% | 3.0% | 5.0% | 5.2% | -0.1% |
Note: Per the Survey of Consumer Finances definitions, primary housing wealth is the total value of the primary residence of a household. Nonprimary housing wealth includes the value of all of other residential real estate owned by the household, including one-to-four family structures, timeshares, and vacation homes.
Source: Author’s analysis of microdata from the Federal Reserve Board Survey of Consumer Finances (2016)