1

Net worth (wealth) is the sum of the market value of assets owned by 

every member of the household minus liabilities owed by household 

members. The major assets not covered in this measure are equities in 

pension plans, the cash value of life insurance policies, and the value of 

home furnishings and jewelry.

Median net worth is the amount that divides households into two equal 

groups, one having net worth less than that amount and the other 

having net worth above that amount.

Householder is the person in whose name the home is owned or rented 

as of the interview date. If the home is owned jointly by a married 

couple, the person whose name is listed first on the householder roster

is considered the householder.

Quintile is the portion of a frequency distribution containing one-fifth of 

the total sample. Each quintile represents 20 percent, or one-fifth, of all 

households. Median net worth statistics within quintiles of the net worth 

distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles.

Select components of net worth:

Assets

Interest-earning assets held at financial institutions, stocks and mutual 

fund shares, rental property, home ownership, IRA and Keogh accounts, 

401k and Thrift Savings Plans, vehicles, and regular checking accounts.

Liabilities

Mortgages on own home, mortgages on rental property, vehicle loans, 

credit card debt, educational loans, and medical debt not covered by 

insurance.

Distribution of Household Wealth in the U.S.: 2000 to 2011

By Marina Vornovitsky, Alfred Gottschalck, and Adam Smith

Household net worth, or wealth,

is an important indicator of 

economic well-being in the United 

States. Median household net 

worth decreased by $5,046, or 6.8 

percent, between 2000 and 

2011.1

The types of assets that 

households hold may vary across 

the net worth distribution. 

Therefore, dividing the overall net 

worth distribution into equal 

parts (e.g., by quintile) can 

provide additional insights into 

the well-being of each segment of 

that distribution. Given that 

business cycle changes over time 

may have a differential impact on 

the wealth of different groups, it 

can also facilitate analysis of how 

this well-being changes for 

different types of households 

over time.

 

1

All comparisons are significant at the 90 percent level. All dollar figures are in 2011 constant dollars. The inflation 

adjustment factor of 1.34 was used to convert 2000 figures into 2011 dollars. All statistics were calculated using 

‘Wealth of Households’ and ‘Distribution of Household Wealth and Debt’ tables. See 

http://www.census.gov/people/wealth/ for more information. Due to weighting and values that overlap quintile 

breaks, the median of the third quintile may not exactly match the median of the overall net worth (or debt) 

distribution. Comparisons are not based on the same households over time. The estimates discussed here are 

based on responses from a sample of the population and may differ from the actual values because of sampling 

variability and other factors. As a result, apparent differences between the estimates for two or more groups may 

not be statistically significant. For information on sampling and nonsampling error see: 

http://www.census.gov/sipp/source.html.
2

Between 2000 and 2011, experiences of households varied widely depending on their net 

worth quintile (See Figure 1). Median household net worth decreased by $5,124 for households 

in the first (bottom) net worth quintile,

2

$7,056 (or 49.3 percent) for the second quintile, and 

$5,072 (or 6.9 percent) for the third quintile. Median household net worth increased by 

$18,433 (or 9.8 percent) for households in the fourth quintile, and by $61,379 (or 10.8 percent) 

for households in the highest (top) quintile (See Tables A1-A2 and Figure 2).

Changes in Relative Net Worth Over Time

The distribution of net worth became more spread out between 2000 and 2011. The ratio of 

median net worth of the highest quintile to the second quintile increased from 39.8 to 86.8

between 2000 and 2011, and the ratio of the highest quintile to the third quintile increased 

from 7.7 to 9.2. The ratio of the highest quintile to the fourth quintile was 3.0 in 2000 and 

showed no statistically significant change over this period (See Figure 3).

Between 2010 and 2011, the ratio of median net worth of the highest quintile to the second 

quintile decreased by 3.85 percentage points, and the ratio of the highest quintile to the third 

quintile decreased by 0.25 percentage points. The ratio of the highest quintile to the fourth 

quintile showed no statistically significant change over this period.

Distribution of Household Wealth by Socio-Economic Characteristics of 

Households3

Over the 2000 to 2011 period there was significant variability in the direction and magnitude of 

changes in median net worth experienced by households of different socio-economic 

characteristics.

4

Experiences of households sharing the same socio-economic characteristics 

also differed based on their relative position in the wealth distribution.

 

2

The bottom net worth quintile includes households with zero or negative net worth. Net worth may be zero or 

negative because a household’s gross wealth is zero or because the value of a household’s liabilities exceeds the 

value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for 

this quintile. Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 

70th, and 90th percentiles.

3

Socio-economic characteristics of the householder designate the socio-economic characteristics of the 

household.

4

For more information, see http://www.census.gov/people/wealth/.
3

By Age of the Householder

Median net worth decreased for those under age 55 between 2000 and 2011 (See Table A1). 

The age 35 to 44 group and the age 45 to 54 group experienced larger decreases ($24,689 and 

$27,325, respectively) relative to those under age 35 ($3,089), and the age 35 to 44 group had 

the largest relative decrease (41.4 percent). For those under age 55, households in the second 

and third wealth quintiles experienced larger relative decreases in median net worth compared 

to those in the fourth and fifth quintiles (See Table A2).

Between 2000 and 2011, median net worth increased for those age 65 and older, with the age 

65 to 69 group seeing the largest increase in absolute terms ($40,000 or 25.9 percent) (See 

Table A2). At the same time, experiences of those age 65 and older varied substantially based 

on their relative position in the wealth distribution (See Figure 4). Median net worth decreased 

for those in the first quintile and showed no statistically significant change for those in the 

second quintile. Net worth increases in all the other quintiles varied widely – from $24,707 (or 

16.9 percent) for those in the third quintile to $158,398 (or 21.4 percent) for those in the 

highest quintile.

The age 55 to 64 group as a whole experienced no statistically significant change in median net 

worth between 2000 and 2011. At the same time, median net worth decreased for the bottom 

three quintiles of this age group. Median net worth for the highest two quintiles showed no 

statistically significant change over this period.

By Race and Hispanic Origin of the Householder5

Between 2000 and 2011, non-Hispanic Whites experienced an increase of $3,730 (or 3.5

percent) in their overall median net worth. However, increases in net worth were experienced 

only by the top three quintiles. Median net worth increased by $3,694 (or 3.5 percent), $36,021 

(or 15.3 percent), and $80,359 (or 11.9 percent) for households in the third, fourth, and fifth 

 

5

Federal surveys now give respondents the option of reporting more than one race. There are two basic ways of 

defining a race group. A group such as Black may be defined as those who reported Black and no other race (the 

race-alone or single-race concept) or as those who reported Black regardless of whether they also reported 

another race (the race alone-or-in-combination concept). This table shows data using the first approach (racealone). The use of the single-race population does not imply that it is the preferred method of presenting or 

analyzing data. The U.S. Census Bureau uses a variety of approaches. Because Hispanics may be any race, data in 

this table for Hispanics overlap slightly with data for the Black population. The race or Hispanic origin of the 

householder designates the race or Hispanic origin of the household. This section makes comparisons only for race 

categories that are comparable over time. In particular, the Asian race category had a classification change from 

'Asian and Pacific Islander' (used before the 2004 Panel) to 'Asian Alone' (used in the 2004 Panel and beyond), so 

no comparisons are made for this group.
4

wealth quintiles, respectively (See Figures 5 and 6). Median net worth decreased by $2,421 for 

non-Hispanic Whites in the lowest quintile and by $6,930 (or 22.5 percent) for non-Hispanic 

Whites in the second quintile.

Blacks saw their overall median net worth decrease by $3,746 (or 37.2 percent) between 2000 

and 2011. However, these decreases were primarily concentrated among the first and third 

quintiles. Median net worth decreased by $1,659 for those in the lowest quintile and by $3,733 

(or 37.3 percent) for those in the third quintile. Blacks in the second quintile experienced no 

statistically significant change in median net worth between 2000 and 2011. However, Blacks in 

the two upper quintiles saw their median net worth increase over the same period: by $2,634 

(or 5.4 percent) for those in the fourth quintile, and $88,353 (or 62.8 percent) for those in the 

fifth quintile. For Blacks in the highest quintile, relative increases in median net worth exceeded 

those of Non-Hispanic Whites and Hispanics in the highest quintile over this period.

The overall median net worth of Hispanics decreased by $5,576 (or 42.1 percent) between 2000 

and 2011. However, these decreases were primarily concentrated among the bottom three 

quintiles. The fourth quintile saw no statistically significant change over this period. The highest 

wealth quintile saw its median net worth increase by $38,062 (or 17.9 percent) between 2000 

and 2011.

Changes in Relative Net Worth Over Time Within Race and Hispanic Origin Groups

Between 2000 and 2011, distributions of wealth have become more dispersed for non-Hispanic 

Whites, Blacks, and Hispanics, with distributions for Blacks and Hispanics experiencing much 

larger increases in the spread (See Table A4). For non-Hispanic Whites, the ratio of median net 

worth of the highest quintile to the second quintile has increased from 21.8 in 2000 to 31.5 in 

2011 (by 44 percent). For Blacks, the ratio increased from 139.9 to 328.1 (by 135 percent). For 

Hispanics, the ratio increased from 158.4 to 220.9 (by 39 percent).

Changes in Relative Net Worth Over Time By Race and Hispanic Origin Groups

Between 2000 and 2011, the distribution of wealth has become more spread out between nonHispanic Whites and Blacks (See Table A5). The ratio of median net worth of non-Hispanic 

Whites to median net worth of Blacks has increased from 10.6 to 17.5 between 2000 and 2011, 

with increases being experienced by the third and the fourth quintiles. The ratio decreased 

from 4.8 to 3.3 for the highest net worth quintile.

The ratio of median net worth of non-Hispanic Whites to median net worth of Hispanics has 

also increased: from 8.1 in 2000 to 14.4 in 2011. However, the increases were experienced only 

by the third and fourth quintiles. The second quintile saw the ratio decrease from 23.0 to 21.1, 

and the fifth quintile had no statistically significant change in the ratio over this period.
5

The same cannot be said about the distribution of wealth between Blacks and Hispanics: the 

ratio of median net worth of Hispanics to median net worth of Blacks was 1.3 in 2000, and it 

showed no statistically significant change between 2000 and 2011. At the same time, the 

distribution of wealth between Blacks and Hispanics has become less spread out for the fourth 

and fifth quintiles. The ratio of median net worth of Hispanics to median net worth of Blacks 

decreased from 1.2 in 2000 to 1.1 in 2011 for those in the fourth quintile, and from 1.5 to 1.1

for those in the fifth quintile.

By Educational Attainment of the Householder

With the exception of the ‘Bachelor’s Degree Only’ group, median net worth decreased for all 

education groups between 2000 and 2011. The ‘No High School Diploma’ group experienced

the largest relative decrease in median net worth (by 55.7 percent). However, among those

with ‘No High School Diploma,’ the highest quintile actually experienced an increase of $31,166 

(or 13.8 percent) over the same period.

Returns to Education

Returns to education increased over the same period, with the ratio of median net worth of 

those with a ‘Graduate or Professional Degree’ to those with ‘High School Diploma only’

increasing from 4.3 to 5.5. For those with a ‘Bachelor’s Degree only,’ the ratio increased from 

2.4 to 3.4.

Increases in returns to education, as measured by the ratio of median net worth between 

education levels, were not experienced equally by different segments of the wealth distribution

(See Table A6 and Figure 7). The ratio showed no statistically significant change for those in the 

fifth quintile. At the same time, the ratio increased for those in the second, third, and fourth

quintiles. For example, the ratio of median net worth of those with a ‘Bachelor’s Degree Only’ 

to those with ‘High School Diploma only’ increased from 4.2 in 2000 to 10.6 in 2011 for those in 

the second quintile. For those with a ‘Graduate or Professional Degree,’ the ratio increased 

from 10.6 to 21.3 for those in the second quintile.
6

Disclaimer: This report is released to inform interested parties of ongoing research and to 

encourage discussion of work in progress. The views expressed are those of the authors and not 

necessarily those of the U.S. Census Bureau.

Constant dollars is a term describing a dollar value after adjustment for inflation; due to 

inflation, the purchasing power of the dollar changes over time, so in order to compare dollar 

values from one year to another, dollar values need to be converted to constant dollar values. 

Constant dollar values represent an effort to remove the effects of price changes from 

statistical series reported in dollar terms. The Bureau of Labor Statistics’ Consumer Price 

Index Research Series (CPI-RS) was used to adjust for inflation using the months that 

correspond to the timing of SIPP interviews. The following adjustment factors were used to 

convert dollar values to 2011 constant dollars:

2000 – 1.34 (November 1999 – February 2000)

2002 – 1.25 (September 2002 – December 2002)

2004 – 1.19 (September 2004 – December 2004)

2005 – 1.14 (September 2005 – December 2005)

2009 – 1.05 (August 2009 – November 2009)

2010 – 1.04 (August 2010 – November 2010)
7

APPENDIX

Table A1. Median Household Net Worth, by Net Worth Quintiles and Age of the Householder: 2000 and 20116

Total First quintile Second quintile Third quintile Fourth quintile Fifth quintile

Characteristic 2000 2011 2000 2011 2000 2011 2000 2011 2000 2011 2000 2011

Total 73,874 68,828 -905 -6,029 14,319 7,263 73,911 68,839 187,552 205,985 569,375 630,754 

Less than 35 years 9,765 6,676 -11,971 -22,646 469 0 9,792 6,682 38,381 33,477 150,095 153,616 

35 to 44 years 59,689 35,000 -2,683 -14,700 11,822 4,058 59,774 35,000 150,022 128,430 435,731 448,824 

45 to 54 years 111,867 84,542 0 -5,991 36,439 12,175 11,867 84,542 239,931 228,708 654,893 654,229 

55 to 64 years 150,866 143,964 378 0 54,257 39,057 150,866 144,200 339,142 333,750 932,347 889,867 

65 years and over 146,205 170,516 1,341 400 67,067 68,783 146,428 171,135 287,447 344,870 741,210 899,608 

 65 to 69 years 154,226 194,226 1,341 100 71,761 62,284 154,464 194,500 325,199 410,191 855,769 1,028,949 

 70 to 74 years 161,027 181,078 1,341 15 72,164 70,151 161,845 181,609 315,615 370,060 776,553 1,054,468 

 75 and over 134,535 155,714 1,341 972 61,031 70,584 134,804 155,714 254,485 302,916 654,909 770,397 

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996 and 2008 Panels.

 

6

All dollar figures are in 2011 constant dollars. Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th

percentiles. Due to weighting, the median of the third quintile will not exactly match the median of the entire distribution. The first, or the bottom, net worth 

quintile includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the 

value of a household’s liabilities exceeds the value of its assets.
8

Table A2. Median Household Net Worth in 2011, as a Percentage of Median Household Net Worth in 2000, by Net 

Worth Quintiles and Age of the Householder7

Characteristic Total Second 

quintile

Third 

quintile

Fourth 

quintile

Fifth 

quintile

Total 93.2 50.7 93.1 109.8 110.8

Less than 35 years 68.4 0.0 68.2 87.2 102.3

35 to 44 years 58.6 34.3 58.6 85.6 103.0

45 to 54 years 75.6 33.4 75.6 95.3 99.9

55 to 64 years 95.4 72.0 95.6 98.4 95.4

65 years and over 116.6 102.6 116.9 120.0 121.4

 65 to 69 years 125.9 86.8 125.9 126.1 120.2

 70 to 74 years 112.5 97.2 112.2 117.3 135.8

 75 and over 115.7 115.7 115.5 119.0 117.6

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996 and 2008 Panels.

 

7 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th

percentiles. The bottom net worth quintile 

includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this 

quintile. Ratios have been calculated using inflation-adjusted values.
9

Table A3. Ratio of Median Net Worth, by Net Worth Quintiles and Race and Hispanic Origin of the Householder: 2000 to 

20118

Characteristic

Total Second quintile Third quintile Fourth quintile Fifth quintile

2005 

to 

2000

2011 

to 

2005

2011 

to 

2000

2005 

to 

2000

2011 

to 

2005

2011 

to 

2000

2005 

to 

2000

2011 

to 

2005

2011 

to 

2000

2005 

to 

2000

2011 

to 

2005

2011 

to 

2000

2005 

to 

2000

2011 

to 

2005

2011 

to 

2000

TOTAL 1.4 0.7 0.9 1.2 0.4 0.5 1.4 0.7 0.9 1.5 0.7 1.1 1.4 0.8 1.1

RACE AND HISPANIC 

ORIGIN OF 

HOUSEHOLDER

White Alone 1.4 0.7 1.0 1.3 0.5 0.6 1.4 0.7 1.0 1.5 0.8 1.1 1.3 0.8 1.1

 White Alone (Not

 of Hispanic Origin) 

1.4 0.7 1.0 1.4 0.6 0.8 1.4 0.7 1.0 1.5 0.8 1.2 1.3 0.9 1.1

Black Alone 1.3 0.5 0.6 0.9 0.8 0.7 1.2 0.5 0.6 1.7 0.6 1.1 2.2 0.7 1.6

Hispanic Origin 1.5 0.4 0.6 1.3 0.6 0.9 1.5 0.4 0.6 2.0 0.5 1.0 2.0 0.6 1.2

Not of Hispanic Origin 1.4 0.7 1.0 1.3 0.5 0.6 1.4 0.7 1.0 1.5 0.8 1.1 1.4 0.8 1.1

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004, and 2008 Panels.

 

8 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The bottom net worth quintile 

includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this 

quintile. Ratios have been calculated using inflation-adjusted values. Federal surveys now give respondents the option of reporting more than one race. There 

are two basic ways of defining a race group. A group such as Black may be defined as those who reported Black and no other race (the race-alone or single-race 

concept) or as those who reported Black regardless of whether they also reported another race (the race alone-or-in-combination concept). This table shows 

data using the first approach (race-alone). The use of the single race population does not imply that it is the preferred method of presenting or analyzing data.

The U.S. Census Bureau uses a variety of approaches. Because Hispanics may be any race, data in this table for Hispanics overlap slightly with data for the Black 

population. The race or Hispanic origin of the householder designates the race or Hispanic origin of the household.
10

Table A4. Ratio of Median Net Worth, by Race and Hispanic Origin of the Householder: 2000, 2005, and 20119

 Characteristic

Ratio of fifth quintile to the 

second quintile

Ratio of fifth quintile to the 

third quintile

Ratio of fifth quintile to the 

fourth quintile

2000 2005 2011 2000 2005 2011 2000 2005 2011

TOTAL 39.8 46.6 86.8 7.7 7.3 9.2 3.0 2.8 3.1

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White Alone 27.8 29.2 49.5 6.8 6.5 7.7 2.9 2.6 2.9

 White Alone (Not of Hispanic Origin) 21.8 21.2 31.5 6.3 6.0 6.8 2.9 2.6 2.8

Black Alone 139.9 345.2 328.1 13.9 24.7 36.1 2.9 3.7 4.5

Hispanic Origin 158.4 242.3 220.9 16.0 22.1 32.6 3.7 3.8 4.6

Not of Hispanic Origin 32.5 35.4 60.3 7.2 6.8 8.0 3.0 2.7 2.9

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004, and 2008 Panels.

Table A5. Ratio of Median Net Worth, by Race and Hispanic Origin of the Householder: 2000, 2005, and 20118

Characteristic Total Second quintile Third quintile Fourth quintile Fifth quintile

2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011

Ratio of median net worth: NonHispanic Whites to Blacks10.6 11.8 17.5 30.7 46.6 34.3 10.6 11.8 17.4 4.9 4.1 5.3 4.8 2.9 3.3

Ratio of median net worth: NonHispanic Whites to Hispanics8.1 7.6 14.4 23.0 23.6 21.1 8.0 7.6 14.4 4.1 3.0 5.0 3.2 2.1 3.0

Ratio of median net worth: 

Hispanics to Blacks

1.3 1.6 1.2 1.3 2.0 1.6 1.3 1.6 1.2 1.2 1.4 1.1 1.5 1.4 1.1

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004, and 2008 Panels.

 

9 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The bottom net worth quintile 

includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this 

quintile. Ratios have been calculated using inflation-adjusted values. Federal surveys now give respondents the option of reporting more than one race. There 

are two basic ways of defining a race group. A group such as Black may be defined as those who reported Black and no other race (the race-alone or single-race 

concept) or as those who reported Black regardless of whether they also reported another race (the race alone-or-in-combination concept). This table shows 

data using the first approach (race-alone). The use of the single race population does not imply that it is the preferred method of presenting or analyzing data. 

The U.S. Census Bureau uses a variety of approaches. Because Hispanics may be any race, data in this table for Hispanics overlap slightly with data for the Black 

population. The race or Hispanic origin of the householder designates the race or Hispanic origin of the household.
11

Table A6. Ratio of Median Net Worth to Median Net Worth of ‘High School Diploma only’, by Net Worth Quintile and 

Educational Attainment of the Householder: 2000, 2005, and 201110

Characteristic

Total Second quintile Third quintile Fourth quintile Fifth quintile

2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011

No High School 

Diploma

0.4 0.3 0.2 0.1 0.2 0.3 0.4 0.3 0.2 0.5 0.5 0.5 0.5 0.6 0.6

High School 

Graduate Only

1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Some College, No 

Degree

1.0 1.3 1.1 1.0 1.4 1.2 1.0 1.3 1.1 1.2 1.3 1.2 1.3 1.2 1.3

Associate's Degree 1.3 1.5 1.3 1.7 2.7 1.9 1.3 1.5 1.3 1.2 1.3 1.2 1.2 1.2 1.2

Bachelor's Degree 2.4 3.0 3.4 4.2 9.2 10.6 2.4 3.0 3.4 2.2 2.4 2.4 2.1 2.0 2.1

Graduate or 

Professional Degree

4.3 4.8 5.5 10.6 17.7 21.3 4.3 4.8 5.5 3.5 3.2 3.9 3.3 2.6 3.2

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004, and 2008 Panels.

 

10 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th

percentiles. The bottom net worth quintile 

includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this 

quintile. Ratios have been calculated using inflation-adjusted values.
12

Figure 1. Median Household Net Worth, by Net Worth Quintiles: 2000 to 201111

 

11 All dollar figures are in 2011 constant dollars. The inflation adjustment factor of 1.34 was used to convert 2000 figures into 2011 dollars. Median net worth 

statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The first, or the bottom, net worth quintile includes 

households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. Due to weighting, the median of the third quintile may not exactly match the median of the overall net 

worth (or debt) distribution.

73,874

-905

14,319

73,911

187,552

569,375

68,828

-6,029

7,263

68,839

205,985

630,754

-100,000

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996 and 2008 Panels.

2000

2011

Total First quintile Second quintile Third quintile Fourth quintile Fifth quintile

Median net 

worth of 

households

(In 2011 

dollars)
13

Figure 2. Median Net Worth as a Percentage of Base Year (2000), by Net Worth Quintiles12

 

12 All dollar figures are in 2011 constant dollars. The inflation adjustment factor of 1.34 was used to convert 2000 figures into 2011 dollars. Median net worth 

statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The first, or the bottom, net worth quintile includes 

households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a 

household’s liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this 

quintile.

0

20

40

60

80

100

120

140

160

2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011 2000 2005 2011

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004 and 2008 Panels.

Recession

Total 2nd Quintile 3rd Quintile 4th Quintile 5th Quintile

Year

Percent
14

Figure 3. Ratio of Median Net Worth of Households, by Net Worth Quintiles: 2000 to 201113

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2001, 2004, and 2008 Panels.

 

13 All dollar figures are in 2011 constant dollars. Median net worth statistics within quintiles of the net worth distribution are at the 

10th, 30th, 50th, 70th, and 90th percentiles. The first, or the bottom, net worth quintile includes households with zero or negative net 

worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a household’s 

liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be 

made for this quintile.

 -

 10.00

 20.00

 30.00

 40.00

 50.00

 60.00

 70.00

 80.00

 90.00

 100.00

 110.00

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Ratio

Year

Highest quintile to 

the second quintile

Highest quintile to 

the third quintile

Highest quintile to 

the fourth quintile

Recession
15

Figure 4. Change in Median Net Worth for Householders 65 and Over: 2011 less 200014

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2001, 2004, and 2008 Panels.

 

14 All dollar figures are in 2011 constant dollars. The inflation adjustment factor of 1.34 was used to convert 2000 figures into 2011 

dollars. Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. 

The first, or the bottom, net worth quintile includes households with zero or negative net worth. Net worth may be zero or negative 

because a household’s gross wealth is zero or because the value of a household’s liabilities exceeds the value of its assets.

-50,000

0

50,000

100,000

150,000

200,000

250,000

300,000 First quintile

Second quintile

Third quintile

Fourth quintile

Fifth quintile

U.S. 65 to 69 

years 

old

70 to 74 

years 

old

75 and 

over

65 and 

over

Change in 

Median Net 

Worth: 2011 

less 2000

(In 2011 

dollars)
16

Figure 5. Median Net Worth of Households in 2011, by Net Worth Quintiles and Race and Hispanic 

Origin of the Householder15

Source: U.S. Census Bureau, Survey of Income and Program Participation, 2008 Panel.

 

15 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The 

first, or the bottom, net worth quintile includes households with zero or negative net worth. Net worth may be zero or negative 

because a household’s gross wealth is zero or because the value of a household’s liabilities exceeds the value of its assets. No 

relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this quintile.

-100,000

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000 First quintile

Second quintile

Third quintile

Fourth quintile

Fifth quintile

Median net 

worth of 

households

in 2011

(In 2011 

dollars)

Total White Only (Not of 

Hispanic Origin)

Black

Only

Hispanic 

Origin
17

Figure 6. Ratio of Median Net Worth, by Net Worth Quintiles and Race and Hispanic Origin of the 

Householder: 2011 to 200014

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2001, 2004, and 2008 Panels.

 -

 0.20

 0.40

 0.60

 0.80

 1.00

 1.20

 1.40

 1.60

 1.80 Second quintile

Third quintile

Fourth quintile

Fifth quintile Ratio of 

median net 

worth: 2011 

to 2000

Total White Only (Not of 

Hispanic Origin)

Black

Only

Hispanic 

Origin
18

Figure 7. Ratio of Median Net Worth, by Net Worth Quintiles and Educational Attainment of the Householder: 2000 to 201116

 

 

16 Median net worth statistics within quintiles of the net worth distribution are at the 10th, 30th, 50th, 70th, and 90th percentiles. The first, or the bottom, net worth quintile 

includes households with zero or negative net worth. Net worth may be zero or negative because a household’s gross wealth is zero or because the value of a household’s 

liabilities exceeds the value of its assets. No relative comparisons (percent change over time, ratios of the medians, etc.) will be made for this quintile.

Bachelor’s Degree to High School Diploma Graduate or Professional Degree to High School Diploma

Year Year

Ratio

Second quintile

Third quintile

Fourth quintile

Fifth quintile

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 -

 5.00

 10.00

 15.00

 20.00

 25.00

 30.00

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1996, 2004 and 2008 Panels.
19

Methodology:

The estimates reported in this brief come from the ‘Wealth and Debt Distribution in the United States’ 

(2000 – 2011) table packages (http://www.census.gov/people/wealth/).

These table packages provide detailed information on the distribution of net worth and debt in the 

United States for selected socio-economic characteristics. Unlike the ‘Net Worth of Households’ and 

‘Debt of Households’ table packages (that only provide the mean and the median for each 

characteristic), these products report the mean and the median for different segments of the net worth 

and debt distributions.

Net Worth (or debt) quintiles are set by ordering households sharing a particular socio-economic 

characteristics by their net worth (or debt) and assigning them to quintiles. The mean and the median 

are then calculated for each quintile. This means that median net worth within the first quintile 

corresponds to the 10th percentile of the net worth distribution. The medians for the second, third, 

fourth, and fifth quintiles correspond to the 30th, 50th, 70th, and 90th percentiles, respectively.

Quintiles may be of different sizes due to values that overlap quintile breaks. For example, if there 

exists a large number of households with zero net worth at the intersection of the first and the second 

quintiles, all such households are sorted into the first quintile (making the second quintile smaller).

Due to weighting and values that overlap quintile breaks, the median of the third quintile may not 

exactly match the median of the overall net worth (or debt) distribution.

The estimates for any given socio-economic characteristic may not be available for all years, since the 

release of each estimate is conditional on it meeting the Census Bureau’s strict confidentiality and 

disclosure requirements.