White wealth dwarfs that of Black, Latino households, study finds
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Black business owners and some officials rang the alarm after a 2015 study revealed Boston's wealth disparities — a median net worth of $8 for Black households, compared with $250,000 for white households.
- In 2020, business leaders and politicians statewide vowed to do better.
Why it matters: A follow-up study released Thursday by the Boston Fed suggests those promises remain unfulfilled.
Context: This report isn't an apples-to-apples comparison of the infamous 2015 study.
- For one, the new study, based on a 2025 survey of 5,018 residents, analyzes households across multiple backgrounds in Massachusetts — not just Black and white households in Boston.
- It also measures wealth in Gateway Cities and smaller racial and ethnic enclaves throughout the state.
By the numbers: The median "net wealth" of a white family in Massachusetts was $549,000, while the overall median was $374,000.
- For Hispanic families, it was $1,200, ranging anywhere from minus-$1,400 to $3,800.
- For Black families, the range was even wider, ranging from minus-$7,600 to $23,300. The median was $7,800.
- The data also showed major differences based on college education, homeownership and geography, which affected residents across racial and ethnic groups.
1 stunning stat: More than one-third of all families surveyed said they couldn't cover a $400 emergency expense.
What they're saying: "If your car needs to be repaired, what's the ability for the families in the study to cover that sort of unexpected expense?" says Nicole Obi, president and CEO of the Black Economic Council of Massachusetts.
- Obi, whose organization was born out of the 2015 study's results, served on the community advisory council for the 2025 study.
- "These real-life scenarios that were included in the study actually demonstrates wealthlessness."
Meanwhile, the Greater Boston Chamber of Commerce says it is bolstering existing initiatives on housing and small businesses.
Threat level: The findings come as new restrictions to SNAP, tariffs and federal funding cuts take effect.
- That means more middle-income households are joining lower-income neighbors in seeking food supplies and other resources, while the funding for that kind of relief dries up.
Case in point: Just under 17% of families across Greater Boston had zero or negative net wealth, mirroring statewide figures.
- In Gateway Cities, nearly 24% had zero or negative net wealth.
What we're watching: BECMA and other organizations are sounding the alarm once again.
- The next few days will reveal which institutions and leaders are staying quiet.