1995

Issued February 2001

P70-71

Household Net Worth and 

Asset Ownership

U S C E N S U S B U R E A U

Helping You Make Informed Decisions

U.S. Department of Commerce

Economics and Statistics Administration 

U.S. CENSUS BUREAU 

Household Economic Studies

Demographic Programs

Current Population Reports

The Survey of Income and Program Participation

By

Michael E. Davern

and

Patricia J. Fisher
This report was prepared in the Household

and Household Economics Statistics Division, Daniel H. Weinberg, Chief, under

the direction of Thomas J. Palumbo,

Chief, Labor Force and Transfer Program

Statistics Branch. Tables were prepared by

Nora P. Szeto, Survey Processing Branch.

Statistical assistance and word processing

assistance was provided by Helen M.

Bohle and Crystal Anita E. Diallo. General direction was provided by Stephanie

S. Shipp, Assistant Division Chief for

Labor Force Statistics and Outreach.

Survey design and data operations were

coordinated by Michael F. McMahon,

then Chief, Income Surveys Branch, Demographic Surveys Division. Data processing

activities were directed by Donna A.

Riccini, Chief, Income Surveys Programming Branch, Demographic Surveys Division.

Data collection was conducted by the U.S.

Census Bureau interviewers in the Field

Division.

Sampling review was conducted by

Karen E. King, Chief, and Kandasamy

Selvavel, Survey of Income and Program

Participation Branch, Demographic Statistical Methods Division.

Benjamin D. Cromer, Barbara Abbott,

Jan Sweeney, and Laurene V. Qualls of

the Administrative and Customer Services

Division, Walter C. Odom, Chief, provided publications and printing management, graphics design and composition,

and editorial review for print and electronic media. General direction and production management were provided by

Michael G. Garland, Assistant Chief, and

Gary J. Lauffer, Chief, Publications Services Branch.

ACKNOWLEDGMENTS
Issue

1995

Issued February 2001

P70-71

Current Population Reports

Household Net Worth and 

Asset Ownership

U.S. Department of Commerce

Donald L. Evans, Secretary

Economics and Statistics Administration

J. Lee Price, Acting Under Secretary for 

Economic Affairs

U.S. CENSUS BUREAU

William G. Barron, Acting Director

Current Population Reports

The Survey of Income and

Program Participation

Household Economic Studies
Paula J. Schneider,

Principal Associate Director

for Programs

Nancy M. Gordon,

Associate Director

for Demographic Programs

Daniel H. Weinberg,

Chief, Housing and Household

Economic Statistics Division

SUGGESTED CITATION

Davern, Michael E. and

Patricia J. Fisher,

U.S. Census Bureau,

Current Population Reports,

Household Economic Studies,

Series P70-71,

Household Net Worth and Asset

Ownership: 1995

U.S. Government Printing Office,

Washington, DC 20222

For sale by Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

ECONOMICS

AND STATISTICS

ADMINISTRATION

Economics

and Statistics

Administration

J. Lee Price,

Acting Under Secretary

for Economic Affairs

U.S. CENSUS BUREAU

William G. Barron,

Acting Director

William G. Barron,

Deputy Director
Introduction ................................... v

Highlights .................................... v

Background ................................... vi

Household Net Worth .............................. vi

Net Worth by Income .............................. ix

Net Worth by Age ................................ xi

Net Worth by Race and Hispanic Origin .................... xv

Net Worth by Type ofHousehold ........................ xvi

Net Worth by Employment Status ....................... xvi

Symbols Used in Tables ............................. xvi

User Comments ................................. xvi

Accuracy ofthe Estimates ........................... xvi

TEXT FIGURES

1. Percent ofAggregate Household Net Worth, by Asset Type: 1995 . . vii

2. Median Value ofAsset Holdings for Selected Asset Types: 1993 and

1995 .................................. viii

3. Asset Ownership Rates ofHouseholds for Selected Asset Types:

1993 and 1995............................. ix

4. Median Net Worth ofHouseholds, by Monthly Household Income

Quintile Groups: 1993 and 1995 ................... ix

5. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Age ofHouseholder: 1995 .............. xiii

6. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Race and Hispanic Origin ofHouseholder: 1995 . . xv

7. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Type ofHousehold: 1995 .............. xvi

TEXT TABLES

A. Asset Ownership Rates for Households, Median Value of Holdings,

and the Distribution ofNet Worth, by Asset Type: 1993 and 1995 . viii

B. Median Net Worth ofHouseholds, by Monthly Household Income

Quintile Groups: 1993 and 1995 ................... ix

C. Asset Ownership Rates for Households and Median Value of the

Holdings, by Monthly Household Income Quintile, for Selected

Asset Types: 1993 and 1995 ..................... x

D. Distribution ofAsset Values for Households and the Distribution of

Net Worth, by Monthly Household Income Quintile, for Selected

Asset Types: 1991 and 1995 ..................... xi

E. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Age ofHouseholder and Monthly Household

Income Quintile: 1993 and 1995 ................... xii

F. Percent Distribution ofNet Worth ofHouseholds, by Age of

Householder and Asset Type: 1993 and 1995 ............ xiv

G. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Monthly Household Income Quintile and Race and

Hispanic Origin ofHouseholder: 1993 and 1995 ........... xiv

CONTENTS

iii
TEXT TABLES—Con.

H. Percent Distribution ofNet Worth ofHouseholds by Asset Type, by

Race and Hispanic Origin ofHouseholder: 1991 and 1995 ..... xv

I. Median Net Worth and Median Net Worth Excluding Home Equity of

Households, by Type ofHousehold and Age ofHouseholder: 1993

and 1995 ................................ xvii

J. Median Net Worth ofHouseholds, by Labor Force Activity of

Householder During the 4-Month Reference Period, for

Householders Under 65 Years: 1993 and 1995 ............ xviii

DETAILED TABLES

1. Median Value ofAssets for Households, by Type ofAsset Owned

and Selected Characteristics: 1995 .................. 2

2. Asset Ownership Rates for Households, by Selected Characteristics:

1995 .................................. 4

3. Interest-Earning Asset Ownership Rates for Households, by Selected

Characteristics: 1995 ......................... 6

4. Percent Distribution ofHousehold Net Worth, by Amount ofNet

Worth and Selected Characteristics: 1995............... 7

5. Average (Mean) Value ofAssets for Households, by Type ofAsset

Owned and Selected Characteristics: 1995 .............. 8

6. Standard Errors for Median Value of Assets for Households, by Type

ofAsset Owned and Selected Characteristics: 1995 ......... 10

7. Standard Errors for Average (Mean) Value of Assets for Households,

by Type ofAsset Owned and Selected Characteristics: 1995 .... 12

8. Standard Errors for Median Net Worth and Median Net Worth

Excluding Home Equity, by Age ofHouseholder and Monthly

Household Income Quintile: 1995................... 14

9. Standard Errors for Median Net Worth and Median Net Worth

Excluding Home Equity ofHouseholds, by Monthly Household

Income and Race and Hispanic Origin ofHouseholder: 1995 .... 14

10. Standard Errors for Median Net Worth and Median Net Worth

Excluding Home Equity ofHouseholds, by Type ofHousehold and

Age ofHouseholder: 1995....................... 14

APPENDIXES

A. Definitions and Explanations ...................... A-1

B. Description ofChanges in Median Estimation From Previous Reports. B-1

APPENDIX TABLES

A-1. Income Sources Included In Monthly Cash Income........... A-3

A-2. Assets and Liabilities Included in Net Worth .............. A-4

iv
Household Net Worth and Asset Ownership: 1995

INTRODUCTION

This report presents data on the wealth and asset holdings of U.S. households in 1995.1 The data are from the

1993 panel of the Survey of Income and Program Participation (SIPP) and represent information collected from February through May 1995.2 The SIPP collects wealth and

asset data as a supplement to its core questions about

labor force participation, income, demographic characteristics, and program participation.

Two of the most important components of the economic stratification of the U.S. population are income and

asset accumulation (wealth). Income is the flow of

resources from a job, transfer program, or some other

source. Wealth is the level of economic resources that a

person or household possesses at any given time. Because

the economic well-being of households depends upon

both income and wealth, income by itself is an imperfect

measure. A household, for example, may be in the top 10

percent of the income distribution, but may be burdened

with a large amount of debt. Consequently, examining the

components of wealth, such as equity in a home, savings

accounts, certificates of deposit, and mutual funds, provides a better understanding of the economic health of

households than considering income data alone.3

HIGHLIGHTS

• Median household net worth4 in 1995 was $40,200, a

figure not significantly different statistically from the

1993 median household net worth of $39,590 (in 1995

dollars).5 Underlying this apparent stability were offsetting changes in the median household values of specific

asset types.

• Median household asset values of stocks, rental property, vehicle equity, and Individual Retirement Accounts

(IRA and Keogh accounts) experienced significant

increases between 1993 and 1995.

• The median household value of U.S. Savings Bonds and

interest-earning assets held at financial institutions fell

significantly during the same period.

• Median home equity for households was $50,000 in

1995, not significantly different from the 1993 median

household home equity of $49,156 (in 1995 dollars).

• In 1995, median household net worth varied from

$5,000 for households in the lowest income quintile to

$116,232 for households in the highest income quintile.

• In 1995, median household net worth generally

increased with the age of the householder, rising from

$7,428 for householders under the age of 35, to

$92,399 for householders 65 years of age and older.

• In 1995, the household median net worth was $49,030

for households with a White householder, $7,073 for

households with a Black householder, and $7,255 for

households with a Hispanic householder.6 Hispanic

households and Black households had significantly less

net worth than White households, but the difference

between Hispanic and Black households was not significant.

• Married-couple households, the largest category of

households, had the highest median net worth holdings

in 1995, $64,694. Male householders had a significantly

lower median net worth in 1995 of $16,346; female

householders had an even lower one of $14,949.

1

See Appendix A for the definitions of the concepts (for

example, net worth) used throughout this report. 2

The sample of households in the SIPP is divided into four

interview groups called rotation groups. Each month, one of the

four rotation groups is interviewed about the previous 4 months

(the reference period). The asset and liability data in this report

were collected from the first rotation group in February 1995, and

refer to the last day of January 1995; the second rotation group

was interviewed in March 1995, and their data refer to February

1995, and so on. As a result, the data presented in this report

represent an average of the assets and liabilities of people at the

end of January, February, March, and April 1995. 3

For a further discussion of the relationship between wealth

and income, see Arthur B. Kennickell, 1999, ‘‘Using Income to Predict Wealth’’ available at:

www.federalreserve.gov/pubs/oss/oss2/method.html. 4

The median net worth is the amount that divides the net

worth distribution into two equal groups, one having household

net worth less than the median amount and the other having net

worth above the median. 5

See Appendix B for a technical description of the changes in

median estimation used in this report compared to earlier reports. 6

Hispanics may be of any race. The race or Hispanic origin of

the householder designates the race or Hispanic origin of the

household.

Household Net Worth and Asset Ownership: 1995 v

U.S. Census Bureau
• In 1995, households with a householder having less

than 12 years of education had a median net worth of

$20,092, compared with $80,416 for households whose

householder had 4 or more years of college.

• In 1995, households with householders having a job for

the entire 4-month reference period had a median

household net worth of $33,848, compared with

$11,298 for households with householders having no

labor force activity during this time

BACKGROUND

The SIPP periodically collects detailed wealth data as

part of its normal operation.7 SIPP’s large sample size

(approximately 19,900 households in the 1993 panel)

allows comparisons of the assets of smaller groups, especially those that tend to be underrepresented in other surveys (such as low income households).8 Furthermore, the

SIPP’s sample design uses a housing list prepared for the

decennial census and is updated repeatedly through

extensive listing procedures. Thus, the SIPP enjoys a high

degree of population coverage, making its statistical estimates valid representations of the population.9 The SIPP’s

design also allows for the reliable measurement of household median net worth, the percent of households holding

a particular type of asset, and the distribution of the net

worth of households by asset type.

The distribution of wealth in the United States has a

large positive skew: a few households hold a large proportion of the wealth. For such distributions, the median is

the preferred measure of central tendency because it is

less sensitive than the average to extreme observations.

The median also is considerably lower than the average,

and provides a more accurate representation of the wealth

and asset holdings of the typical household. For example,

fewer households have a net worth near the average of

$102,626 than near the median of $40,200.

The median also is preferred because the concentration

of wealth among relatively few households biases estimates of the average household net worth and of the

aggregate net worth of the country made from surveys

not taking this distribution into consideration.10 To have

less biased estimates of these concepts, a household survey should heavily oversample wealthy households. For

example, the Survey of Consumer Finances (SCF), conducted by the Federal Reserve Board, oversamples households likely to be wealthy.11 The SIPP, on the other hand,

does not oversample wealthy households and its estimates of average net worth and total aggregate net worth

are biased downward. Average net worth in 1995 was

$102,626 from SIPP, compared with $205,900 from the

SCF. The two surveys’ estimates of median household net

worth in 1995 are much closer: $40,200 from the SIPP,

$56,400 from the SCF.12

This report presents household data for 1995 and compares those estimates with data from 1991 and 1993.13

The 1991 and 1993 data are presented in constant 1995

dollars using the Consumer Price Index for all products in

urban areas. Median household net worth is analyzed for

1995 and earlier years by household income, age, race,

ethnicity, type of household, and labor force activity of the

householder. The report also compares 1995 home ownership rates to earlier years.

Detailed tables appear at the end of this report. Tables

1 through 5 show data by selected demographic characteristics. Tables 6 through 10 provide the standard errors

associated with the data.

HOUSEHOLD NET WORTH

The median household net worth in 1995 was $40,200,

which is not statistically different from the 1993 value of

$39,590. Net worth is the value of all assets covered in

the survey, less any debts (either unsecured or secured by

assets). Assets include interest-earning assets, checking

7

Other surveys that collect wealth and asset information

include the Survey of Consumer Finances, the National Longitudinal Study, the Panel Study of Income Dynamics, and the Consumer Expenditure Survey. 8

People in group quarters are not included in this report.

Group quarters are units that consist of unrelated individuals living together in housing units that have separate rooms but share

common facilities such as dining halls. Individuals in group quarters would not normally share financial resources. The survey’s

universe also excludes people in institutions, people in Puerto

Rico, and people living in military barracks. 9

See the 1993 SIPP ‘‘Source and Accuracy Statement’’ and the

1998 SIPP ‘‘Quality Profile’’ available at the following Web site:

www.sipp.census.gov/sipp/methmain.htm. 10The aggregate value of net worth is the product of the number of households times average net worth.

11The 1995 SCF was divided into two samples totaling 4,299

families. The first is an area probability sample, with 2,780 families, that is similar in construction to the SIPP sample; the second

(called the ‘‘list’’ sample), with 1,519 families, oversamples high

income families, as determined by tax documents from the Internal Revenue Service. For a detailed description of the SCF sampling strategies, see Gerhard Fries, Martha Starr-McCluer and

Annika Sunden, ‘‘A Measurement of Household Wealth Using Survey Data: An Overview of the Survey of Consumer Finances,’’

available at the following Web site:

www.federalreserve.gov/pubs/oss/oss2/method.html. 12One reason that the estimates of median net worth from the

SIPP and the SCF are much closer than their estimates of average

net worth is that the SCF survey is predominately intended to

measure family wealth and is more comprehensive in its coverage

of the asset holdings than the SIPP. The SIPP does not measure

equities in pension plans, cash surrender value of life insurance

policies, and the value of household furnishings such as antiques,

art, and jewelry. See Appendix D of the Current Population

Reports: Household Economic Studies ‘‘Household Wealth and

Asset Ownership: 1991’’ P70-34 report for a further discussion of

differences between the SCF and the SIPP. 13Data for 1991 and 1993 were published previously in the

P70 series in the reports, P70-34, ‘‘Household Wealth and Asset

Ownership: 1991,’’ and P70-47, ‘‘Asset Ownership of Households:

1993.’’ Some tables included in this report did not appear in the

1993 report and last appeared in the 1991 report. Comparisons

are made between 1995 and 1993 when the data are available

from the 1993 report, or between 1995 and 1991 otherwise.

vi Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
accounts, stocks and mutual fund shares, real estate (primary residences, rental property, vacation homes, and

land holdings), the value of one’s own business or profession, mortgages held by sellers, and motor vehicles.

Liabilities measured in the SIPP include debts secured by

any asset, credit card or store bills, bank loans, and other

unsecured debts. The survey did not cover certain assets

such as equities in pension plans, cash surrender value of

life insurance policies, or the value of jewelry and home

furnishings. Figure 1 illustrates the distribution of net

worth by asset type and Table A shows the distribution of

asset ownership, the median value of holdings for asset

owners, and the percentage of total net worth held in each

type of asset in 1995 and 1993.

Home equity (the value of the home net of mortgages)

constituted the largest share of household net worth,

accounting for 44 percent of total net worth in 1995; owners had a median equity of $50,000 in their homes. In

1995, 64 percent of households reported owning homes.

As shown in Figures 2 and 3, neither the amount of home

equity, nor the percentage of people owning their own

home, changed significantly between 1993 and 1995.

Interest-earning assets at financial institutions made up

the next largest share of net worth in both 1995 and

1993, although their percentage of net worth decreased

slightly from 11.4 percent in 1993 to 9.6 percent in 1995.

In 1993, 71 percent of households had interest-earning

assets at financial institutions, with a median value of

$3,159; that proportion decreased to 69 percent and a

median value of $2,537, in 1995.

Interest-earning assets not held at financial institutions,

such as money market funds and municipal bonds, made

up 4.5 percent of net worth in 1995, a slight increase from

4.0 percent in 1993. In 1995, 7.7 percent of households

reported owning them, down slightly from 8.6 percent in

1993. The median value of household holdings in these

assets did not change significantly from 1993 to 1995

($13,691 and $15,000 respectively).

The share of household net worth accounted for by

stocks and mutual funds did not change significantly

between 1993 and 1995 (8.3 percent and 8.4 percent,

respectively). The percentage of net worth attributed to

IRA and Keogh accounts, however, jumped significantly,

from 6.7 percent of net worth in 1993 to 8.3 percent in

1995. Over the same period, the household ownership

rate for stocks and mutual funds held steady at around 21

percent, but the median value of the holdings increased

significantly from $7,331 to $9,000. At the same time, the

percentage of households owning IRA and Keogh accounts

increased from 23.1 percent to 24.1 percent, and the

median value of these accounts increased from $13,677 to

$15,000.

Vehicle ownership made up a higher proportion of overall household net worth in 1995 than in 1993: 8.3 percent

compared with 6.4 percent. The percentage of households

owning vehicles increased from 85.7 percent in 1993 to

89.2 percent in 1995, while the median amount of holding

in vehicles grew from $5,414 to $6,675.

Figure 1.

Percent of Aggregate Household Net Worth, by Asset Type: 1995

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1993 panel.

Unsecured liabilities

Checking accounts

U.S. savings bonds

Other financial

investments

Other real estate

Other interestearning assets

Business or

profession

Rental property

IRA or

KEOGH accounts

Motor vehicles

Stocks and mutual

fund shares

Interest-earning assets

at financial institutions

Own home 44.4

9.6

8.4

8.3

8.3

6.2

5.6

4.5

4.3

2.8

0.8

0.6

-3.6

Household Net Worth and Asset Ownership: 1995 vii

U.S. Census Bureau
Table A. Asset Ownership Rates for Households, Median Value of Holdings, and the Distribution of Net Worth,

by Asset Type: 1993 and 1995

[Excludes group quarters]

Asset type

1995 1993

(In 1995 dollars)

Percent of

households

that own

asset type

Median value

of asset for

asset owners

(dollars)

Percent

distribution of

net worth

Percent of

households

that own

asset type

Median value

of asset for

asset owners

(dollars)

Percent

distribution of

net worth

All assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (X) (X) 100.0 (X) (X) 100.0

Interest-earning assets at financial institutions . . . 69.1 2,537 9.6 71.1 3,159 11.4

Other interest-earning assets . . . . . . . . . . . . . . . . . . 7.7 15,000 4.5 8.6 13,691 4.0

Checking accounts ........................... 46.7 500 0.6 45.9 526 0.5

Stocks and mutual fund shares ................ 20.8 9,000 8.4 20.9 7,331 8.3

Own home .................................. 64.3 50,000 44.4 64.3 49,156 44.4

Rental property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.1 34,250 6.2 8.4 30,861 6.7

Other real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.5 22,000 4.3 9.3 20,450 4.6

Vehicles. .................................... 89.2 6,675 8.3 85.7 5,414 6.4

Business or profession. . ...................... 10.3 8,000 5.6 10.8 7,373 6.4

U.S. savings bonds. .......................... 18.8 700 0.8 18.5 816 0.8

IRA or Keogh accounts . . ..................... 24.1 15,000 8.3 23.1 13,677 6.7

Other financial investments1 . . . . . . . . . . . . . . . . . . . 4.2 29,100 2.8 5.2 22,120 3.0

Unsecured liabilities2 ......................... 56.6 2,500 –3.6 (NA) (NA) (NA)

(NA) Not available. (X) Not applicable.

1

Includes mortgages held for sale of real estate, amount due from sale of business or property, and other financial assets.

2

Because net worth is assets less liabilities, unsecured liabilities are subtracted from the distribution of net worth and are shown as negative.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Figure 2.

Median Value of Asset Holdings for Selected Asset Types: 1993 and 1995

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Interest-earning assets

at financial institutions

Equity in motor vehicles

Equity in own

business or profession

Stocks and mutual

fund shares

IRA or KEOGH accounts

Other interestearning assets

Equity in own home

 

 

 

 

 

 

$50,000

 $49,156 

$15,000

$13,691

$15,000

$13,677

$9,000

$7,331

$8,000

$7,373

$6,675

$5,414

$2,537

$3,159 

1995

1993

(1995 dollars)

viii Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
NET WORTH BY INCOME

Table B shows the median net worth of households distributed by monthly income quintiles, for 1995 and 1993.

Household income is the average monthly income

received from all sources by all members of the household

during the last month prior to the survey interview.

Figure 4 shows a strong positive relationship between

net worth and income quintile. Median net worth in 1995

Figure 3.

Asset Ownership Rates of Households for Selected Asset Types: 1993 and 1995 

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Other interestearning assets

Equity in own business

or profession

Stocks and mutual

fund shares

IRA or KEOGH accounts

Equity in own home

Interest-earning assets

at financial institutions

Equity in motor vehicles

 

 

 

 

 

 

89.2%

 85.7%

69.1%

71.1%

64.3% 

64.3%

 24.1% 

23.1%

20.8% 

20.9%

10.3%

10.8%

7.7%

 8.6%

1995

1993

Table B. Median Net Worth of Households, by

Monthly Household Income Quintile Groups:

1993 and 1995

[Excludes group quarters]

Monthly household

income quintile1

1995 1993

(in 1995 dollars)

Number of

households2

Median

net worth

(dollars)

Number of

households2

Median net

worth

(dollars)

Total ......... 99,088 40,200 96,467 39,590

Lowest quintile ..... 19,838 5,000 19,327 4,475

Second quintile .... 19,812 21,966 19,306 21,308

Third quintile ...... 19,811 35,949 19,279 32,429

Fourth quintile ..... 19,812 52,860 19,304 52,664

Highest quintile .... 19,814 116,232 19,251 125,337

1

Quintile upper limits for 1995 were: lowest quintile−$1,096; second

quintile−$2,002; third quintile−$3,109; fourth quintile−$4,844. Upper

limits for 1993 were: lowest quintile−$1,128; second quintile−$2,068;

third quintile−$3,155; fourth quintile−$4,882. 2 Number of households in thousands.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Figure 4.

Median Net Worth of Households, 

by Monthly Household Income 

Quintile Groups: 1993 and 1995

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

Participation, 1991, 1992, and 1993 panels.

1995

1993

Highest

quintile

Fourth

quintile

Third

quintile

Second

quintile

Lowest

quintile

$5,000

$4,475

$21,966

$21,308

$35,949

$32,429 

$52,860

$52,664

$116,232

$125,337

(1995 dollars)

Household Net Worth and Asset Ownership: 1995 ix

U.S. Census Bureau
rose from $5,000 for households in the lowest quintile to

$116,232 for households in the highest. Even so, the

$116,232 figure represents a drop for the highest quintile

from $125,337 in 1993. Only the third income quintile

experienced a significant increase between 1993 and

1995, from $32,429 to $35,949.

Table C shows that asset ownership patterns and

median household asset values also vary with household

monthly income quintile. For example, in 1995 the home

ownership rate was only 41.4 percent among households

in the lowest income quintile, far below the 85.1 percent

figure among households in the highest income quintile.

Median home equity ranged from $40,000 within the lowest income quintile to $65,061 in the highest.

Ownership rates and median values for assets other

than home equity also displayed large differences between

the lowest and highest income quintile. In 1995, these

assets included stocks and mutual fund shares (ownership

rate of 5.6 percent for the lowest quintile compared with

42.6 percent for the highest), IRA or Keogh accounts (6.2

percent compared with 48.3 percent), and business equity

(5.0 percent compared with 17.5 percent). The median

value of stocks and mutual fund shares in 1995 varied

from $6,120 for the lowest income group to $11,000 for

the highest one. Within income quintiles, the median value

Table C. Asset Ownership Rates for Households and Median Value of the Holdings, by Monthly Household

Income Quintile, for Selected Asset Types: 1993 and 1995

[Excludes group quarters]

Monthly household income quintile1

Interestearning

assets at

financial

institutions

Other

interestearning

assets

Stocks and

mutual fund

shares

Equity in

own home

Equity in

motor

vehicles

Equity in own

business or

profession

IRA or

Keogh

accounts

Percent of Households Owning

Assets

1995

Total ....................... 69.1 7.7 20.8 64.3 89.2 10.3 24.1

Lowest quintile . .................. 40.5 2.2 5.6 41.4 68.6 5.0 6.2

Second quintile .................. 61.3 4.4 12.3 56.3 88.6 7.2 14.3

Third quintile..................... 72.7 7.1 18.5 64.3 94.9 9.7 21.9

Fourth quintile ................... 81.0 8.9 24.8 74.2 96.8 12.2 29.9

Highest quintile .................. 90.2 15.9 42.6 85.1 97.3 17.5 48.3

1993

Total........................ 71.1 8.6 20.9 64.3 85.7 10.8 23.1

Lowest quintile . .................. 42.2 2.6 4.4 41.5 58.2 6.1 5.4

Second quintile .................. 62.9 5.1 11.6 55.9 85.1 7.5 14.0

Third quintile..................... 73.7 7.3 18.1 63.4 93.1 9.6 20.5

Fourth quintile ................... 84.6 9.1 26.0 74.8 95.8 11.6 28.3

Highest quintile .................. 92.2 19.1 44.3 86.0 96.4 19.4 47.1

Median Value of Holdings for

Asset Owners

1995 (dollars)

Total........................ 2,537 15,000 9,000 50,000 6,675 8,000 15,000

Lowest quintile . .................. 1,499 6,145 6,120 40,000 3,000 4,000 12,000

Second quintile .................. 1,999 15,999 7,000 45,000 3,800 5,000 12,000

Third quintile..................... 2,000 14,999 7,464 49,000 6,198 5,000 13,000

Fourth quintile ................... 2,400 14,248 7,464 45,789 8,663 7,500 13,100

Highest quintile .................. 5,000 16,349 11,000 65,061 12,975 15,000 17,800

1993 (in 1995 dollars)

Total........................ 3,159 13,691 7,331 49,156 5,414 7,373 13,677

Lowest quintile . .................. 1,679 10,532 3,476 41,015 1,745 996 10,533

Second quintile .................. 2,106 13,692 5,178 43,156 3,526 2,086 11,586

Third quintile..................... 2,104 13,165 4,898 45,274 4,871 5,056 10,006

Fourth quintile ................... 2,893 10,532 6,214 44,080 6,837 10,006 12,429

Highest quintile .................. 6,319 15,798 10,524 69,589 10,425 17,985 16,958

1

Quintile upper limits for 1995 were: lowest quintile−$1,096; second quintile−$2,002; third quintile−$3,109; fourth quintile−$4,844. Upper limits for

1993 were: lowest quintile−$1,128; second quintile−$2,068; third quintile−$3,155; fourth quintile−$4,882.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

x Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
of stocks and mutual fund assets increased significantly

from 1993 to 1995, except for the highest income quintile, where there was not a significant difference. The lowest income quintile saw an increase of $2,644 from 1993

to 1995; the fourth income quintile, an increase of

$1,250.

Table D shows that the composition of net worth by

asset type differed among income groups. The share of

net worth in home equity generally decreased from 57.5

percent for the lowest income quintile to 36.8 percent for

the highest. In contrast, stocks and mutual funds grew

from 4.9 percent of the net worth of the lowest income

quintile, to 11.5 percent of the highest. Interest-earning

assets not held at financial institutions accounted for 1.4

percent for the lowest quintile, and 6.5 percent for the

highest.

Table D also reveals differences in the asset-type composition of net worth by income group. Reflecting declines

within each income quintile, the share of net worth for

households in general attributed to interest-earning assets

held at financial institutions fell from 14.2 percent in 1991

to 9.6 percent in 1995. In contrast, the share of net worth

in motor vehicles rose across income groups, accounting

for 8.3 percent of overall household net worth in 1995, up

from 6.4 percent in 1991.

NET WORTH BY AGE

Table E shows median net worth by household income

and age of the householder for 1995 and 1993. Figure 5

displays the median value of net worth by age of householder in 1995. These data show a positive association

Table D. Distribution of Asset Values for Households and the Distribution of Net Worth, by Monthly

Household Income Quintile, for Selected Asset Types: 1991 and 1995

[Excludes group quarters]

Monthly household income quintile1

Interest

earning

assets at

financial

institutions

Other

interestearning

assets

Stocks and

mutual fund

shares

Equity in

own home

Equity in

motor

vehicles

Equity in own

business or

profession

IRA or

Keogh

accounts

Percent Distribution of the Value

1995

Total ......................... 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Lowest quintile . . . . . . . . . . . . . . . . . . . . 6.7 2.4 4.7 10.3 8.1 5.6 6.1

Second quintile . ................... 16.5 5.9 6.9 15.0 13.1 7.0 8.8

Third quintile ...................... 19.0 11.7 12.1 18.2 18.7 15.2 16.2

Fourth quintile ..................... 21.3 18.0 17.7 21.1 24.7 23.0 21.4

Highest quintile .................... 36.6 61.9 58.6 35.3 35.4 49.2 47.6

1991

Total ......................... 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Lowest quintile . . . . . . . . . . . . . . . . . . . . 6.0 1.2 2.6 10.0 6.2 6.8 3.1

Second quintile . ................... 13.9 5.5 6.0 15.0 13.7 10.9 9.2

Third quintile ...................... 18.8 14.6 10.4 17.0 18.9 13.6 13.8

Fourth quintile ..................... 21.8 15.2 15.8 22.1 24.7 16.2 21.0

Highest quintile .................... 39.4 63.3 65.3 36.0 36.6 52.5 53.0

Percent Distribution of Net Worth

1995

Total . . . . . . . . . . . . . . . . . . . . . . . . . 9.6 4.5 8.4 44.4 8.3 5.6 8.3

Lowest quintile . . . . . . . . . . . . . . . . . . . . 8.0 1.4 4.9 57.5 8.4 3.9 6.3

Second quintile . ................... 13.3 2.2 4.9 56.4 9.2 3.3 6.2

Third quintile ...................... 10.9 3.2 6.0 48.5 9.3 5.1 8.1

Fourth quintile . . . . . . . . . . . . . . . . . . . . . 9.8 3.9 7.1 44.8 9.8 6.1 8.5

Highest quintile . . . . . . . . . . . . . . . . . . . . 8.3 6.5 11.5 36.8 6.9 6.5 9.3

1991

Total ......................... 14.2 5.0 7.1 41.9 6.4 7.3 5.2

Lowest quintile .................... 12.4 0.9 2.6 60.6 5.7 7.1 2.3

Second quintile . ................... 16.2 2.3 3.5 51.5 7.1 6.5 3.9

Third quintile ...................... 17.0 4.6 4.7 45.0 7.6 6.3 4.5

Fourth quintile ..................... 15.2 3.7 5.5 45.3 7.7 5.8 5.3

Highest quintile .................... 12.6 7.1 10.3 33.8 5.2 8.6 6.2

1

Quintile upper limits for 1995 were: lowest quintile−$1,096; second quintile−$2,002; third quintile−$3,109; fourth quintile−$4,844. Quntile upper

limits for 1991 (in 1995 dollars) were: lowest quintile−$1,196; second quintile−$2,135; third quintile−$3,254; fourth quintile−$4,973.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1990 and 1993 panels.

Household Net Worth and Asset Ownership: 1995 xi

U.S. Census Bureau
Table E. Median Net Worth and Median Net Worth Excluding Home Equity of Households, by Age of

Householder and Monthly Household Income Quintile: 1993 and 1995

[Excludes group quarters. Number of households in thousands]

Monthly household income quintile

Total

Less than

35 years

35 to 44

years

45 to 54

years

55 to 64

years

65 years and over

Total

65 to 69

years

70 to 74

years

75 years

and over

1995 Monthly Household Income

Quintile1

All households (thousands) ........ 99,088 24,092 23,343 17,813 12,338 21,502 6,056 5,834 9,612

Median net worth (dollars).......... 40,200 7,428 31,691 61,248 91,330 92,399 106,408 97,414 81,600

Excluding home equity........... 11,773 4,350 9,873 17,423 22,397 24,047 31,524 24,797 19,149

Net Worth by Income Quintile

Lowest quintile

Households (thousands) ........... 19,838 5,136 3,221 2,075 2,339 7,066 1,467 1,651 3,948

Median net worth (dollars).......... 5,000 1,000 3,000 5,000 15,396 30,975 27,009 31,000 31,449

Excluding home equity........... 2,099 699 1,248 1,523 2,800 3,699 3,750 3,349 3,798

Second quintile

Households (thousands) ........... 19,812 5,196 3,586 2,578 2,243 6,209 1,523 1,764 2,922

Median net worth (dollars).......... 21,966 3,330 8,074 17,956 54,263 88,747 87,500 88,028 90,373

Excluding home equity........... 5,654 2,150 3,000 4,100 8,075 23,998 20,749 22,104 26,650

Third quintile

Households (thousands) ........... 19,811 5,293 4,673 3,329 2,494 4,021 1,308 1,196 1,517

Median net worth (dollars).......... 35,949 8,379 20,198 37,004 96,407 145,997 139,853 148,323 143,997

Excluding home equity........... 11,248 5,047 7,598 10,748 23,244 56,000 48,149 62,020 63,106

Fourth quintile

Households (thousands) ........... 19,812 4,903 5,903 3,986 2,593 2,426 984 714 728

Median net worth (dollars).......... 52,860 16,336 42,311 65,533 122,369 200,523 185,347 195,534 220,228

Excluding home equity........... 17,198 10,000 13,505 18,845 44,293 102,195 100,229 79,409 115,298

Fifth quintile

Households (thousands) ........... 19,814 3,563 5,958 5,844 2,669 1,779 773 509 497

Median net worth (dollars).......... 116,232 40,462 90,921 147,012 202,181 376,995 344,254 357,250 466,850

Excluding home equity........... 42,523 21,556 33,473 56,295 85,593 212,573 180,545 163,910 286,147

1993 Monthly Household Income

Quintile2

All households (thousands)......... 96,468 24,361 22,790 16,258 12,291 20,768 6,132 5,504 9,131

Median net worth (dollars).......... 39,590 6,094 30,758 60,833 96,356 90,924 97,429 100,850 81,792

Excluding home equity........... 10,011 3,473 8,657 15,272 26,446 21,742 24,910 24,282 19,091

Lowest quintile

Households (thousands) ........... 19,327 5,154 2,911 1,972 2,231 7,059 1,560 1,600 3,899

Median net worth (dollars).......... 4,475 503 1,022 4,081 17,801 32,020 36,247 25,672 33,862

Excluding home equity........... 1,000 105 526 579 2,001 3,152 2,632 2,256 3,685

Second quintile

Households (thousands) ........... 19,306 5,201 3,516 2,272 2,310 6,006 1,692 1,674 2,641

Median net worth (dollars).......... 21,308 2,988 4,995 16,351 60,116 85,290 76,455 88,316 89,143

Excluding home equity........... 5,265 1,680 2,080 3,265 12,434 21,723 17,634 21,794 24,102

Third quintile

Households (thousands) ........... 19,279 5,659 4,795 2,847 2,306 3,672 1,244 1,076 1,352

Median net worth (dollars).......... 32,429 7,366 18,238 39,407 91,009 145,937 122,802 155,075 164,838

Excluding home equity........... 8,724 4,273 5,609 7,873 24,330 56,741 46,776 56,535 70,622

Fourth quintile

Households (thousands) ........... 19,304 5,096 5,723 3,686 2,429 2,370 934 682 754

Median net worth (dollars).......... 52,664 16,718 43,034 65,336 128,794 210,216 192,605 182,918 244,473

Excluding home equity........... 15,892 8,110 12,961 17,624 40,868 98,162 90,196 88,218 112,333

Fifth quintile

Households (thousands) ........... 19,252 3,251 5,846 5,480 3,014 1,660 702 472 486

Median net worth (dollars).......... 125,337 40,498 96,217 140,640 221,971 373,686 333,630 370,482 500,836

Excluding home equity........... 47,811 18,398 37,076 53,888 106,792 226,810 194,605 225,259 288,074

1

Quintile upper limits for 1995 were: lowest quintile−$1,096; second quintile−$2,002; third quintile−$3,109; fourth quintile−$4,844. 2

Quintile upper limits for 1993 were: lowest quintile−$1,128; second quintile−$2,068; third quintile−3,155; fourth quintile−$4,882.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, 1993 panels.

xii Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
between age of householder and household net worth, up

to age 70. In 1995, median household net worth increased

significantly from $7,428 among householders under the

age of 35, to $106,408 among those aged 65-69, but then

declined to $81,600 among householders 75 years and

older.

Table E also shows that, for most of the age-ofhouseholder cohorts, median household net worth did not

change from 1993 to 1995. The exception was the median

net worth of households with householders less than 35

years old: their median net worth rose from $6,094 in

1993 to $7,428 in 1995.

Besides being associated with each other, age of householder and wealth are interrelated with income. The

youngest households (householders under 35 years old)

tend to have more income, but lower net worth, than

households with householders 65 years and older. As can

be inferred from Table E, about 57 percent of the youngest

households had average monthly incomes in the top three

income quintiles (above $2,002) in 1995, but only about

38 percent of the oldest households (householders 65

years or older) were in these quintiles. In contrast, the

youngest households had a median net worth of only

$7,428 in 1995, compared with $92,399 for the oldest.

Median net worth excluding home equity is another

important indicator of well-being for households, especially for households with retired householders. In 1995,

this measure increased with age of householder for all age

groups under 70, then declined for the remaining groups.

For households in general, the measure increased from

$10,011 in 1993 to $11,773 in 1995, rising for all age categories except householders aged 55 to 64 (where it fell

from $26,446 in 1993 to $22,397 in 1995).

Table F shows the distribution of net worth in 1993 and

1995 by age of householder and type of asset. For each

age group, home equity was the major type of asset holding, representing from 42.0 percent of net worth for

householders under 35, to 48.3 percent for those 65 years

and over. The shares of net worth held as equity in motor

vehicles and in business equity declined with advances in

the age of the householder: motor vehicles fell from 25.3

percent of net worth for the youngest group to 4.4 percent for the oldest; and business equity similarly declined

from 11.9 percent to 1.4 percent.

Householders aged 45-64 years had the highest proportion of net worth, about 10 percent, in IRA and Keogh

accounts. In contrast, householders aged 65 and over had

7.3 percent in these accounts; and householders under 35

had only 5.2 percent.

Table F reveals some changes between 1993 and 1995

in asset-accumulation patterns by age of the householder.

The share of household net worth in stocks and mutual

funds for households with householders under the age of

35 decreased from 8.9 percent in 1993 to 6.3 percent in

Figure 5.

Median Net Worth and Median Net Worth Excluding Home Equity of 

Households, by Age of Householder: 1995

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1993 panel.

Median net worth 

Median net worth excluding home equity

75 years of

age and older

70 to 74 years

65 to 69 years

55 to 64 years

45 to 54 years

35 to 44 years

Less than

35 years

 

$7,428

$4,350

$31,691

$9,873

$61,248

$17,423

$91,330

$22,397

$106,408

$31,524

$97,414

$24,797

$81,600

$19,149

(1995 dollars)

Household Net Worth and Asset Ownership: 1995 xiii

U.S. Census Bureau
Table F. Percent Distribution of Net Worth of Households, by Age of Householder and Asset Type:

1993 and 1995

[Excludes group quarters]

Asset type

1995 1993

Total

Less

than 35

years

35 to

44

years

45 to

54

years

55 to

64

years

65 years

and over Total

Less

than 35

years

35 to

44

years

45 to

54

years

55 to

64

years

65 years

and over

Total net worth........... 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Interest-earning assets at

financial institutions. . . . . . . . . . . 9.6 8.2 6.6 7.2 6.7 14.6 11.4 10.9 7.9 7.7 9.6 16.7

Other interest-earning assets . . . 4.5 4.0 1.6 3.0 4.6 6.9 4.0 2.1 2.5 2.6 4.1 6.1

Checking accounts . . . . . . . . . . . . 0.6 1.4 0.7 0.6 0.3 0.4 0.5 1.2 0.7 0.5 0.4 0.4

Stocks and mutual fund shares . 8.4 6.3 7.9 7.8 9.4 8.6 8.3 8.9 6.4 8.1 8.8 9.1

Own home ................... 44.4 42.0 48.3 43.6 42.8 44.4 44.4 43.8 47.7 45.3 42.4 43.6

Rental property . . . . . . . . . . . . . . . 6.2 3.2 4.3 6.9 9.6 5.3 6.7 5.3 6.4 7.2 9.1 5.2

Other real estate . . . . . . . . . . . . . . 4.3 6.4 4.1 5.8 5.0 2.6 4.6 5.1 5.0 5.5 4.9 3.6

Vehicles. . . . . . . . . . . . . . . . . . . . . . 8.3 25.3 11.9 8.3 6.4 4.4 6.4 18.2 8.8 6.5 4.9 3.7

Business or profession. . . . . . . . . 5.6 11.9 10.9 7.9 3.5 1.4 6.4 10.6 9.5 9.0 6.1 2.4

U.S. savings bonds. . . . . . . . . . . . 0.8 0.7 0.9 0.6 0.7 0.8 0.8 1.0 1.2 0.7 0.7 0.8

IRA or Keogh accounts . . . . . . . . 8.3 5.2 7.1 10.1 10.2 7.3 6.7 3.9 6.3 7.4 8.8 5.7

Other financial investments1 . . . 2.8 1.9 2.0 2.3 2.7 3.8 3.0 3.6 2.9 2.6 3.0 3.2

Unsecured liabilities2 .......... –3.6 –16.0 –6.5 –4.1 –1.9 –0.6 –3.4 –14.5 –5.3 –3.3 –2.8 –0.6

1

Includes mortgages held for sale of real estate, amount due from sale of business or property, and other financial assets.

2

Because net worth is assets less liabilities, unsecured liabilities are subtracted from the distribution of net worth and are shown as negative.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Table G. Median Net Worth and Median Net Worth Excluding Home Equity of Households, by Monthly

Household Income Quintile and Race and Hispanic Origin of Householder: 1993 and 1995

[Excludes group quarters]

Monthly household income quintile1

Total White Black Hispanic origin2

1995

1993

(in 1995

dollars) 1995

1993

(in 1995

dollars) 1995

1993

(in 1995

dollars) 1995

1993

(in 1995

dollars)

All households (thousands). . .......... 99,088 96,468 84,224 82,190 11,719 11,248 8,161 7,403

Median net worth (dollars)............. 40,200 39,590 49,030 48,177 7,073 4,653 7,255 4,904

Excluding home equity.............. 11,773 (NA) 14,398 (NA) 2,657 (NA) 2,900 (NA)

Net Worth by Income

Lowest quintile

Households (thousands) .............. 19,838 19,327 15,085 14,662 4,077 4,066 2,416 2,272

Median net worth (dollars)............. 5,000 4,475 9,720 8,010 1,500 263 1,250 526

Excluding home equity.............. 2,099 (NA) 3,000 (NA) 200 (NA) 500 (NA)

Second quintile

Households (thousands) .............. 19,812 19,306 16,742 16,162 2,617 2,663 1,979 1,760

Median net worth (dollars)............. 21,966 21,308 26,534 28,499 3,998 3,587 3,898 3,055

Excluding home equity.............. 5,654 (NA) 7,359 (NA) 2,250 (NA) 1,700 (NA)

Third quintile

Households (thousands) .............. 19,811 19,279 17,066 16,591 2,164 2,126 1,564 1,437

Median net worth (dollars)............. 35,949 32,429 42,123 38,278 11,623 8,932 10,377 6,649

Excluding home equity.............. 11,248 (NA) 12,837 (NA) 4,333 (NA) 4,181 (NA)

Fourth quintile

Households (thousands) .............. 19,812 19,304 17,489 17,218 1,684 1,454 1,416 1,115

Median net worth (dollars)............. 52,860 52,664 57,445 56,920 27,275 21,850 19,424 21,171

Excluding home equity.............. 17,198 (NA) 19,225 (NA) 7,500 (NA) 6,823 (NA)

Highest quintile

Households (thousands) .............. 19,814 19,252 17,843 17,558 1,176 937 784 819

Median net worth (dollars)............. 116,232 125,337 123,781 129,923 40,866 47,422 80,416 58,903

Excluding home equity.............. 42,523 (NA) 46,773 (NA) 14,672 (NA) 21,497 (NA)

(NA) Not available.

1

Quintile upper limits for 1995 were: lowest quintile−$1,096; second quintile−$2,022; third quintile−$3,109; fourth quintile−$4,844. Upper limits for

1993 were: lowest quintile−$1,128; second quintile−$2,068; third quintile−$3,155; fourth quintile−$4,882. 2

People of Hispanic origin may be of any race.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

xiv Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
1995. At the same time, the share of net worth invested in

IRA and Keogh accounts for householders aged 45 to 54

increased from 7.4 percent to 10.1 percent.

NET WORTH BY RACE AND HISPANIC ORIGIN

Table G and Figure 6 show median net worth data by

the race and Hispanic origin of householders. In 1995,

households with White householders had a median net

worth of $49,030; those with Black householders, $7,073;

and those with Hispanic householders, $7,255.14

White households, in every income quintile, had significantly higher levels of median net worth than Black and

Hispanic households. In the lowest quintile in 1995, the

median net worth for White households was $9,720; for

Black households, $1,500; and for Hispanic households,

$1,250. The corresponding figures for the highest quintile

were $123,781 for White households, $40,866 for Black

households, and $80,416 for Hispanic households.

Although the gap between the median net worth of

White households, and those of Black or Hispanic households, was still large in 1995 (roughly $42,000), it narrowed from 1993 (when it was roughly $43,500). The

median net worth of White householders did not differ

between 1993 and 1995; but that for Blacks increased

from $4,653 to $7,073; and that for Hispanics rose from

$4,904 to $7,255.

The shares of net worth held in various types of assets

also differed by the race of the householder (see Table H).

Compared with White households, Black households held

a significantly greater percentage of their net worth in

durable goods such as housing (61.8 percent for Black

households, 43.7 percent for White households in 1995;

63.3 percent and 41.1 percent in 1991) and motor

14The median net worth difference between Hispanic and Black

households is not statistically significant.

Figure 6.

Median Net Worth and Median Net Worth 

Excluding Home Equity of Households, 

by Race and Hispanic Origin of 

Householder: 1995

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

1993 panel.

Median net worth 

Median net worth 

excluding home equity

Hispanic

householders

Black

householders

White

householders

All households

 

 

 

 

 

$40,200

$11,773

$49,030

$14,398

$7,073

$2,657

$7,255

$2,900

(1995 dollars)

Table H. Percent Distribution of Net Worth of Households by Asset Type, by Race and Hispanic Origin of

Householder: 1991 and 1995

[Excludes group quarters]

Asset type

Total White Black Hispanic origin1

1995 1991 1995 1991 1995 1991 1995 1991

Total net worth. . ................ 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Interest-earning assets at financial

institutions . . . . . . . . . . . . . . . . . . . . . . . . . 9.6 14.2 9.8 14.5 5.5 8.4 6.9 8.7

Other interest-earning assets . . . . . . . . . . 4.5 5.0 4.6 5.2 1.0 1.7 1.7 0.9

Checking accounts . . . . . . . . . . . . . . . . . . . 0.6 0.5 0.5 0.5 0.9 0.8 0.9 0.7

Stocks and mutual fund shares . . . . . . . . 8.4 7.1 8.6 7.4 2.1 1.6 4.3 1.7

Own home .......................... 44.4 41.9 43.7 41.1 61.8 63.3 55.6 54.9

Rental property . . . . . . . . . . . . . . . . . . . . . . 6.2 6.8 6.3 6.7 4.7 7.1 6.8 9.2

Other real estate . . . . . . . . . . . . . . . . . . . . . 4.3 5.4 3.9 5.5 9.7 4.4 3.2 5.9

Vehicles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.4 8.0 6.2 16.9 10.2 13.0 9.8

Business or profession. . . . . . . . . . . . . . . . 5.6 7.3 5.7 7.2 1.9 6.7 4.6 8.8

U.S. savings bonds. . . . . . . . . . . . . . . . . . . 0.8 0.6 0.8 0.6 0.7 0.4 0.4 0.4

IRA or Keogh accounts . . . . . . . . . . . . . . . 8.3 5.2 8.6 5.3 2.7 2.6 6.2 2.8

Other financial investments2 . . . . . . . . . . . 2.8 3.1 3.0 3.2 1.4 1.1 3.2 1.8

Unsecured liabilities3 ................. –3.6 –3.4 –3.9 –3.3 –9.3 –8.3 –6.6 –5.7

1

People of Hispanic origin may be of any race.

2

Includes mortgages held for sale of real estate, amount due from sale of business or property, and other financial assets.

3

Because net worth is assets less liabilities, unsecured liabilities are subtracted from the distribution of net worth and are shown as negative.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1990 and 1993 panels.

Household Net Worth and Asset Ownership: 1995 xv

U.S. Census Bureau
vehicles (16.9 percent and 8.0 percent in 1995; 10.2 percent and 6.2 percent in 1991). Conversely, Black households had a significantly lower percentage than White

households in financial assets such as stocks and mutual

fund shares (8.6 percent and 2.1 percent in 1995; 7.4 percent and 1.6 percent in 1991) and interest-earning assets

at financial institutions (9.8 percent and 5.5 percent in

1995; 14.5 percent and 8.4 percent in 1991).

NET WORTH BY TYPE OF HOUSEHOLD

Figure 7 shows that married-couple households had the

largest median net worth in 1995, $64,694; followed by

that for male householders, $16,346 (or 25.3 percent of

the married-couple figure); and by that for female householders, $14,949 (23.1 percent of the married-couple

median).

Table I shows the median net worth of households, by

type of household (married-couple; female householder,

no spouse present; and male householder, no spouse

present), by the age of householder, for 1993 and 1995.

Married-couple households had the largest median net

worth for 1995 in all the age categories shown in Table I.

Net worth figures for female householders trailed those

for male householders in the two youngest age categories;

and were not significantly different from them in the two

oldest. Female householders under 35 years old had a net

worth of $2,580, compared with $5,425 for males; the

corresponding figures for those aged 35 to 54 were

$11,233 and $22,150.

Neither married-couple households nor female householders experienced a significant change in household net

worth between 1993 and 1995 (although married-couple

households did see a significant increase in their median

net worth holdings excluding home equity, from $17,960

in 1993 to $19,010 in 1995). The median net worth of

male householders, on the other hand, was higher in 1995

than in 1993, rising from $14,219 to $16,346.

NET WORTH BY EMPLOYMENT STATUS

Table J shows that median net worth in 1995 varied by

the employment status of the householder. For all households with householders under 65 years of age, the

median net worth was $28,470. For householders who

had a job for the entire 4 months covered in the SIPP survey, the median was $33,848. For those who did not have

a job during this time, but who looked for work or were

on layoff, the median was $3,000. Finally, for those without labor force activity (not working, not looking for work,

not on layoff), the median was $11,298.

SYMBOLS USED IN TABLES

− Represents zero or rounds to zero

(X) Not applicable

(B) Base is less than 200,000

USER COMMENTS

The Census Bureau welcomes the comments and advice

of data users. If you have suggestions or comments,

please write to:

Daniel Weinberg

Chief, Housing and Household Economic Statistics Division

U.S. Census Bureau

Washington, DC 20233-8500

or contact:

Labor Force and Transfer Program Statistics Branch

301-457-3230

ACCURACY OF THE ESTIMATES

Statistics from surveys are subject to sampling and nonsampling error. All comparisons presented in this report

have taken sampling error into account and meet the U.S.

Census Bureau’s standards for statistical significance. Nonsampling errors in surveys may be attributed to a variety

of sources, such as how the survey was designed, how

respondents interpret questions, how able and willing

respondents are to provide correct answers, and how

accurately the answers are coded and classified. The Census Bureau employs quality control procedures throughout

the production process—including the overall design of

surveys, the wording of questions, review of the work of

interviewers and coders, and statistical review of reports.

Figure 7.

Median Net Worth and Median Net Worth 

Excluding Home Equity of Households, 

by Type of Household: 1995

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

1993 panel.

Median net worth 

Median net worth 

excluding home equity

Female

householders

Male

householders

Married couple

households

All households

 

 

 

 

 

$40,200

$11,773

$64,694

$16,346

$7,375

$14,949

$4,400

$19,010

(1995 dollars)

xvi Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
The SIPP employs ratio estimation, whereby sample

estimates are adjusted to independent estimates of the

national population by age, race, sex, and Hispanic origin.

This weighting partially corrects for bias due to undercoverage, but how it affects different variables in the survey

is not precisely known. Moreover, biases also may bepresent when people who are missed in the survey differ

from those interviewed in ways other than the categories

used in weighting (age, race, sex, and Hispanic origin). All

of these considerations affect comparisons across different surveys or data sources.

For further information on statistical standards and the

computation and use of standard errors, contact

Kandasamy Selvavel, Demographic Statistical Methods

Division, at 301-457-4182,

Kandasamy.Selvavel@census.gov.

Table I. Median Net Worth and Median Net Worth Excluding Home Equity of Households, by Type of Household

and Age of Householder: 1993 and 1995

[Excludes group quarters]

Type of household by age of householder

1995 1993

Number of

households

(thousands)

Median net worth

(dollars)

Number of

households

(thousands)

Median net worth

(in 1995 dollars)

Total

Excluding

equity in

own home Total

Excluding

equity in

own home

Married-couple households ........... 54,685 64,694 19,010 52,891 65,204 17,960

Less than 35 years . . . . . ........... 11,753 14,299 7,700 12,141 13,631 5,980

35 to 54 years .................... 25,949 63,107 18,973 23,983 65,171 18,365

55 to 64 years .................... 7,495 126,725 41,248 7,568 134,560 45,863

65 years and over ................. 9,487 138,249 47,741 9,199 136,706 46,776

Male householders . ................. 16,044 16,346 7,375 15,397 14,219 5,432

Less than 35 years . . . . . ........... 5,402 5,425 4,311 5,285 4,529 3,044

35 to 54 years .................... 6,336 22,150 7,899 6,157 19,408 6,484

55 to 64 years .................... 1,539 39,045 9,849 1,437 47,050 11,486

65 years and over ................. 2,767 67,697 15,374 2,518 63,978 13,616

Female householders ................ 28,359 14,949 4,400 28,180 14,002 3,542

Less than 35 years . . . . . ........... 6,937 2,580 1,850 6,935 1,414 832

35 to 54 years .................... 8,869 11,233 3,948 8,908 8,853 2,793

55 to 64 years .................... 3,305 44,400 6,849 3,286 47,147 6,820

65 years and over ................. 9,248 61,549 11,100 9,050 60,753 10,069

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

Household Net Worth and Asset Ownership: 1995 xvii

U.S. Census Bureau
Table J. Median Net Worth of Households, by Labor Force Activity of Householder During the 4-Month

Reference Period,1 for Householders Under 65 Years: 1993 and 1995

[Excludes group quarters. Number of households in thousands]

Labor force activity of householders under 65 years

1995 1993

Number of

households

Median measured

net worth

(dollars)

Number of

households

Median measured

net worth

(in 1995 dollars)

Total . . . . . . . . . . . ................................... 77,586 28,470 75,700 28,164

With labor force activity in the past 4 months . . . .............. 66,357 30,569 65,258 29,598

With a job during the entire 4 months...................... 61,405 33,848 59,235 33,177

With a job during some of the 4 months ................... 3,518 5,750 3,512 8,339

No job during the entire 4 months, spent time looking or

on layoff .............................................. 1,434 3,000 2,511 2,633

No labor force activity during the past 4 months . . ............ 11,229 11,298 10,442 15,759

1

The sample of households in the SIPP is divided into four interview groups called rotation groups. Each month, one of the four rotation groups is

interviewed about the previous 4 months (the reference period). The asset and liability data in this report were collected from the first rotation group in

February 1995, and refer to the last day of January 1995; the second rotation group was interviewed in March 1995, and their data refer to February

1995, and so on. As a result, the data presented in this report represent an average of the assets and liabilities of people at the end of January, February, March, and April 1995.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1991, 1992, and 1993 panels.

xviii Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Page left blank to preserve table order.

Household Net Worth and Asset Ownership: 1995 1

U.S. Census Bureau
Table 1. Median Value of Assets for Households, by Type of Asset Owned and Selected Characteristics: 1995

[In dollars. Excludes group quarters]

Characteristics Net worth

Interest-earning

assets at financial institutionsOther interestearning assets

Regular

checking

accounts

Stocks and

mutual fund shares

Equity in

business or

profession

Equity in motor vehicles

Total ................................. 40,200 2,537 15,000 500 9,000 8,000 6,675

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White.................................... 49,030 3,000 15,000 500 9,350 8,500 6,998

Black.................................... 7,073 999 (B) 500 4,000 2,500 3,848

Hispanic origin ............................. 7,255 1,000 (B) 500 7,000 7,000 3,499

AGE OF HOUSEHOLDER

Less than 35 years .......................... 7,428 1,000 6,125 450 4,000 4,950 5,500

35 to 44 years.............................. 31,691 1,900 5,000 500 5,000 7,500 6,936

45 to 54 years.............................. 61,248 2,548 12,499 600 8,000 12,000 8,200

55 to 64 years.............................. 91,330 4,900 21,998 500 10,000 7,000 8,648

65 years and over ........................... 92,399 9,249 25,000 628 21,000 10,000 5,699

65 to 69 years ............................ 106,408 7,499 22,999 600 20,000 6,170 7,500

70 to 74 years ............................ 97,414 7,499 24,999 600 20,300 15,000 6,225

75 and over.............................. 81,600 10,800 26,199 650 24,000 (B) 4,025

EDUCATION OF HOUSEHOLDER

Less than 12 years .......................... 20,092 2,499 16,999 400 5,000 5,000 3,500

High school: 4 years ......................... 37,216 2,248 19,999 500 6,000 7,000 6,359

College: 1 to 3 years ...................... 33,850 2,000 13,999 500 7,319 8,500 6,675

4 or more years ................... 80,416 4,000 15,000 800 11,000 10,000 9,588

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households ..................... 64,694 3,000 14,999 559 8,200 9,500 8,998

Less than 35 years ......................... 14,299 1,230 5,998 500 4,000 4,500 7,173

35 to 54 years ............................ 63,107 2,499 9,999 600 5,500 10,000 9,373

55 to 64 years ............................ 126,725 5,799 20,000 600 11,691 10,000 11,248

65 years and over.......................... 138,249 10,000 24,999 850 21,370 11,500 8,825

Male householder ........................... 16,346 2,000 10,000 510 9,000 10,000 4,348

Less than 35 years ......................... 5,425 1,010 7,000 500 4,000 7,000 4,500

35 to 54 years ............................ 22,150 2,000 4,249 500 10,000 12,500 4,025

55 to 64 years ............................ 39,045 3,499 (B) 500 9,000 (B) 5,300

65 years and over.......................... 67,697 8,000 20,000 800 22,000 (B) 3,998

Female householder.......................... 14,949 2,000 21,699 400 10,000 750 3,500

Less than 35 years ......................... 2,580 550 (B) 300 4,000 (B) 3,448

35 to 54 years ............................ 11,233 1,200 10,000 400 6,000 1,000 4,025

55 to 64 years ............................ 44,400 2,800 49,999 420 7,900 (B) 4,448

65 years and over.......................... 61,549 7,998 25,000 500 20,000 (B) 3,350

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total ................................. 28,470 2,000 10,000 500 6,000 8,000 6,900

With labor force activity........................ 30,569 1,999 10,000 500 6,000 8,500 7,159

With job entire period ....................... 33,848 2,000 10,000 500 6,000 9,000 7,442

With job part of period ....................... 5,750 1,200 (B) 335 10,000 5,000 4,348

No job during period, spent time looking or on layoff . . . 3,000 1,100 (B) 300 (B) (B) 3,350

No labor force activity......................... 11,298 2,500 19,000 300 7,900 2,500 4,848

Monthly Household Income

Lowest quintile ............................. 5,000 1,499 6,145 249 6,120 4,000 3,000

Second quintile ............................. 21,966 1,999 15,999 350 7,000 5,000 3,800

Third quintile............................... 35,949 2,000 14,999 500 7,464 5,000 6,198

Fourth quintile .............................. 52,860 2,400 14,248 600 7,464 7,500 8,663

Highest quintile ............................. 116,232 5,000 16,349 1,000 11,000 15,000 12,975

REGION

Northeast ................................. 55,485 2,999 14,999 500 8,000 7,000 7,025

Midwest .................................. 45,582 2,919 13,499 500 9,000 10,000 7,125

South ................................... 31,698 2,499 15,000 500 9,300 10,000 6,696

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,203 2,499 19,000 600 9,000 7,000 5,925

TENURE

Owner ................................... 84,952 3,700 15,999 600 10,000 10,000 8,522

Renter ................................... 3,000 1,000 10,000 400 4,512 4,700 3,500

2 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 1. Median Value of Assets for Households, by Type of Asset Owned and Selected Characteristics:

1995—Con.

[In dollars. Excludes group quarters]

Characteristics Equity on

own home

Rental

property

equity

Other real

estate equity

U.S. savings

bonds

IRA or

Keogh

accounts Other assets1

Total ...................................... 50,000 34,250 22,000 700 15,000 29,100

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White......................................... 51,567 38,000 23,000 775 15,000 29,100

Black......................................... 31,485 4,000 18,000 400 5,000 (B)

Hispanic origin .................................. 32,786 13,000 23,000 400 10,000 (B)

AGE OF HOUSEHOLDER

Less than 35 years ............................... 16,018 10,000 12,000 350 5,300 5,000

35 to 44 years................................... 36,741 20,000 25,000 650 11,000 18,478

45 to 54 years................................... 54,095 39,000 26,000 800 16,000 26,212

55 to 64 years................................... 70,000 60,000 30,000 1,000 20,400 29,100

65 years and over ................................ 70,000 28,000 20,000 1,400 25,000 35,000

65 to 69 years ................................. 75,000 28,000 20,000 1,400 29,931 54,000

70 to 74 years ................................. 70,000 45,000 30,000 1,500 25,000 31,000

75 and over................................... 65,000 13,000 15,000 1,000 19,000 34,000

EDUCATION OF HOUSEHOLDER

Less than 12 years ............................... 42,539 6,000 17,000 350 15,000 (B)

High school: 4 years .............................. 50,000 20,000 20,000 600 13,000 27,600

College: 1 to 3 years ........................... 45,200 45,000 20,000 600 12,000 25,000

4 or more years ........................ 60,216 48,570 35,000 1,000 17,460 30,000

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households .......................... 51,691 40,000 26,000 900 17,047 29,100

Less than 35 years .............................. 17,017 19,000 15,000 400 7,000 (B)

35 to 54 years ................................. 48,213 30,000 30,000 850 15,000 20,800

55 to 64 years ................................. 78,474 62,250 35,000 1,050 25,000 29,100

65 years and over............................... 78,976 45,000 25,000 1,500 32,000 49,500

Male householder ................................ 40,000 25,000 20,000 500 10,004 26,000

Less than 35 years .............................. 13,859 (B) (B) 200 5,000 (B)

35 to 54 years ................................. 35,249 36,000 20,000 600 11,000 (B)

55 to 64 years ................................. 58,000 (B) (B) (B) 20,000 (B)

65 years and over............................... 60,000 15,000 (B) 2,000 20,000 (B)

Female householder............................... 50,000 18,000 10,000 500 9,800 27,600

Less than 35 years .............................. 15,361 (B) (B) 300 3,600 (B)

35 to 54 years ................................. 32,508 17,000 20,000 400 8,800 (B)

55 to 64 years ................................. 58,000 38,000 (B) 800 12,000 (B)

65 years and over............................... 60,000 10,000 10,000 1,000 14,000 29,100

LABOR FORCE ACTIVITY OF HOUSEHOLDERS UNDER

65 YEARS

Total ...................................... 42,464 35,000 25,000 600 12,600 25,000

With labor force activity............................. 40,830 35,000 25,000 600 12,200 20,000

With job entire period ............................ 41,161 33,000 25,000 600 12,257 21,998

With job part of period ............................ 31,953 (B) 11,000 500 10,249 (B)

No job during period, spent time looking or on layoff ........ 40,473 (B) (B) (B) (B) (B)

No labor force activity.............................. 58,000 45,000 20,000 500 18,000 (B)

Monthly Household Income

Lowest quintile .................................. 40,000 17,900 12,000 300 12,000 (B)

Second quintile .................................. 45,000 10,000 15,000 300 12,000 25,000

Third quintile.................................... 49,000 29,964 16,000 500 13,000 28,600

Fourth quintile ................................... 45,789 33,000 20,000 800 13,100 28,973

Highest quintile .................................. 65,061 52,000 35,000 1,000 17,800 30,000

REGION

Northeast ...................................... 72,000 25,000 30,000 1,000 15,000 29,100

Midwest ....................................... 45,390 25,000 20,000 675 13,400 27,600

South ........................................ 39,027 35,000 17,000 600 14,591 27,600

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,373 60,000 35,000 700 15,500 29,100

TENURE

Owner ........................................ 50,000 35,000 23,000 900 16,300 29,100

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (B) 20,000 20,000 350 7,000 14,593

(B) Base is less than 200,000

1Includes mortgages held from sale of real estate, amount due from sale of business or property, and other financial assets.

Household Net Worth and Asset Ownership: 1995 3

U.S. Census Bureau
Table 2. Asset Ownership Rates for Households, by Selected Characteristics: 1995

[Excludes group quarters]

Characteristics Number of

households

(thousands)

Percent owning

Interest-earning assets at financial institutions

Other interestearning assets

Regular

checking

accounts

Stocks and

mutual fund sharesOwn business

or profession Motor vehicles

Total ................................. 99,088 69.1 7.7 46.7 20.8 10.3 89.2

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White.................................... 84,224 72.4 8.7 48.9 23.1 11.3 91.5

Black.................................... 11,719 46.4 1.1 31.9 5.2 2.9 73.4

Hispanic origin ............................. 8,161 49.0 1.7 38.1 5.3 6.2 80.8

AGE OF HOUSEHOLDER

Less than 35 years .......................... 24,092 60.8 3.3 46.8 13.3 7.8 88.2

35 to 44 years.............................. 23,343 69.5 5.5 48.9 19.3 13.3 92.2

45 to 54 years.............................. 17,813 71.9 7.6 53.2 25.8 16.1 93.2

55 to 64 years.............................. 12,338 70.6 10.2 47.6 24.1 12.2 91.5

65 years and over ........................... 21,502 74.8 13.7 38.5 24.6 4.0 82.6

65 to 69 years ............................ 6,056 74.4 15.2 41.2 27.2 7.1 89.4

70 to 74 years ............................ 5,834 74.6 14.1 39.4 26.1 4.7 87.2

75 and over.............................. 9,612 75.2 12.5 36.2 22.0 1.5 75.4

EDUCATION OF HOUSEHOLDER

Less than 12 years .......................... 20,597 49.3 2.6 36.8 7.3 5.6 78.6

High school: 4 years ......................... 31,669 66.5 5.1 48.4 15.8 9.6 90.1

College: 1 to 3 years ...................... 23,665 73.1 6.7 51.1 21.2 11.5 92.4

4 or more years ................... 23,158 86.2 16.7 48.9 39.2 14.4 94.2

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households ..................... 54,685 76.8 8.9 51.8 25.4 14.2 96.5

Less than 35 years ......................... 11,753 69.8 3.2 52.7 17.2 10.8 96.4

35 to 54 years ............................ 25,949 77.7 7.5 55.3 25.7 18.0 96.9

55 to 64 years ............................ 7,495 78.4 12.3 51.3 29.9 16.2 97.6

65 years and over.......................... 9,487 81.5 17.2 41.5 30.9 6.4 94.7

Male householder ........................... 16,044 62.1 6.6 39.9 17.0 9.5 87.1

Less than 35 years ......................... 5,402 59.5 4.8 43.7 12.7 8.2 87.8

35 to 54 years ............................ 6,336 61.0 5.7 39.6 19.1 13.2 88.8

55 to 64 years ............................ 1,539 61.5 7.1 35.5 17.7 8.7 82.0

65 years and over.......................... 2,767 70.2 11.9 35.6 20.4 4.0 84.9

Female householder.......................... 28,359 58.4 5.9 40.9 14.0 3.3 76.4

Less than 35 years ......................... 6,937 46.8 2.1 39.3 7.1 2.5 74.6

35 to 54 years ............................ 8,869 56.4 3.6 45.7 13.7 5.2 83.1

55 to 64 years ............................ 3,305 57.2 6.8 44.8 14.1 4.9 82.0

65 years and over.......................... 9,248 69.3 10.6 36.2 19.4 1.4 69.4

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total ................................. 77,586 67.6 6.0 49.0 19.7 12.1 91.1

With labor force activity........................ 66,357 71.3 6.1 51.3 20.9 13.7 93.7

With job entire period ....................... 61,405 73.2 6.3 52.3 21.7 14.4 94.5

With job part of period ....................... 3,518 52.7 3.6 43.3 11.8 6.0 87.4

No job during period, spent time looking or on layoff . . . 1,434 39.0 3.0 32.1 7.8 1.8 75.1

No labor force activity......................... 11,229 45.1 5.6 35.5 12.5 2.5 75.6

Monthly Household Income

Lowest quintile ............................. 19,838 40.5 2.2 32.6 5.6 5.0 68.6

Second quintile ............................. 19,812 61.3 4.4 42.4 12.3 7.2 88.6

Third quintile............................... 19,811 72.7 7.1 51.0 18.5 9.7 94.9

Fourth quintile .............................. 19,812 81.0 8.9 54.0 24.8 12.2 96.8

Highest quintile ............................. 19,814 90.2 15.9 53.8 42.6 17.5 97.3

Household Net Worth

Negative or zero ............................ 10,247 32.4 0.6 36.5 3.3 4.1 55.0

$1 to $4,999 ............................... 14,092 42.0 0.4 40.5 2.3 2.6 85.9

$5,000 to $9,999 ............................ 6,022 61.7 1.2 53.3 8.0 5.1 94.8

$10,000 to $24,999 .......................... 11,629 68.7 2.5 50.5 11.6 7.7 94.1

$25,000 to $49,999 .......................... 11,633 72.6 4.2 50.7 15.8 8.8 92.9

$50,000 to $99,999 .......................... 16,111 78.5 6.0 49.7 21.5 10.7 93.4

$100,000 to $249,999......................... 18,862 88.3 12.3 49.2 35.4 14.6 95.8

$250,000 to $499,999......................... 7,028 93.7 26.6 44.3 52.9 23.3 96.3

$500,000 and over........................... 3,464 93.3 44.0 43.4 68.4 32.4 96.2

REGION

Northeast ................................. 20,184 73.0 8.9 44.0 21.3 9.7 81.8

Midwest .................................. 25,569 74.4 7.9 48.1 22.5 11.1 92.3

South ................................... 33,414 62.2 6.4 43.6 18.2 9.4 89.8

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,921 70.1 8.5 53.0 22.2 11.6 92.0

TENURE

Owner ................................... 63,663 78.9 10.2 49.6 26.9 12.7 94.5

Renter ................................... 35,424 51.5 3.3 41.6 9.7 6.1 79.7

4 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 2. Asset Ownership Rates for Households, by Selected Characteristics: 1995—Con.

[Excludes group quarters]

Characteristics

Percent owning

Own home Rentalproperty

Other

real estate Mortgages

U.S. savings bonds

IRA or

Keogh

accounts Other assets1

Total ................................. 64.3 7.1 7.5 1.4 18.8 24.1 2.5

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White .................................... 67.4 7.5 8.2 1.6 20.3 26.5 2.9

Black .................................... 45.2 4.3 2.7 0.3 8.9 7.9 0.7

Hispanic origin .............................. 41.4 4.7 3.2 0.7 8.4 8.5 0.9

AGE OF HOUSEHOLDER

Less than 35 years ........................... 38.2 2.1 2.9 0.1 15.3 12.7 1.4

35 to 44 years .............................. 64.9 5.6 6.2 0.6 22.0 24.2 1.8

45 to 54 years .............................. 73.2 10.0 11.3 1.2 22.5 33.2 2.5

55 to 64 years .............................. 78.6 12.3 12.4 2.3 20.6 36.6 3.3

65 years and over............................ 77.1 9.2 8.3 3.5 15.1 22.1 4.2

65 to 69 years............................. 81.0 10.3 11.7 3.6 21.8 36.1 5.2

70 to 74 years............................. 80.8 9.1 9.1 3.6 16.4 27.2 3.9

75 and over .............................. 72.5 8.5 5.6 3.3 10.0 10.1 3.8

EDUCATION OF HOUSEHOLDER

Less than 12 years ........................... 57.3 5.4 4.0 0.9 7.8 8.4 0.9

High school: 4 years.......................... 65.2 6.0 6.5 1.6 17.4 19.7 1.9

College: 1 to 3 years ...................... 62.2 7.1 7.5 1.0 21.3 24.7 2.3

4 or more years .................... 71.1 10.3 12.1 2.1 27.9 43.4 5.1

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households...................... 77.7 8.9 10.1 1.8 24.6 31.1 2.9

Less than 35 years ......................... 56.0 2.5 4.2 0.2 20.9 16.0 1.6

35 to 54 years............................. 80.0 9.1 10.1 1.1 27.2 33.0 2.4

55 to 64 years............................. 88.2 14.9 16.6 2.9 27.2 45.6 3.7

65 years and over .......................... 89.9 11.2 12.1 4.9 20.3 33.5 5.2

Male householder ............................ 46.1 5.7 5.2 1.0 11.6 18.1 2.2

Less than 35 years ......................... 24.9 2.8 2.8 0.2 10.7 10.9 2.0

35 to 54 years............................. 50.9 6.1 6.5 0.5 13.1 23.6 2.0

55 to 64 years............................. 61.8 11.5 6.3 1.9 11.6 25.2 1.3

65 years and over .......................... 67.8 7.4 6.4 2.8 10.1 15.6 3.6

Female householder .......................... 48.6 4.6 4.0 1.0 11.6 14.0 2.1

Less than 35 years ......................... 18.4 0.8 0.8 − 9.5 8.7 0.7

35 to 54 years............................. 47.3 3.7 4.7 0.5 14.3 17.1 1.4

55 to 64 years............................. 64.5 7.0 5.8 1.2 9.5 21.4 3.3

65 years and over .......................... 66.8 7.6 4.9 2.1 11.2 12.3 3.4

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total.................................. 60.7 6.6 7.3 0.9 19.8 24.7 2.1

With labor force activity ........................ 62.4 6.8 7.6 0.9 21.3 26.1 2.1

With job entire period ........................ 64.3 7.0 7.6 0.9 22.1 27.0 2.2

With job part of period ....................... 40.0 3.1 7.1 0.3 12.1 17.9 1.9

No job during period, spent time looking or on layoff . . . 35.9 4.0 6.8 0.8 9.5 10.3 −

No labor force activity ......................... 50.5 5.5 5.8 0.9 11.0 16.1 1.8

Monthly Household Income

Lowest quintile .............................. 41.4 3.5 3.0 0.6 5.3 6.2 0.8

Second quintile ............................. 56.3 4.6 4.6 1.3 10.6 14.3 1.3

Third quintile ............................... 64.3 6.5 6.2 1.4 16.7 21.9 2.5

Fourth quintile .............................. 74.2 8.2 9.1 1.5 26.0 29.9 3.0

Highest quintile.............................. 85.1 12.9 14.8 2.4 35.3 48.3 5.1

Household Net Worth

Negative or zero............................. 12.7 0.7 0.6 − 7.5 4.1 0.3

$1 to $4,999 ............................... 12.9 0.4 0.5 0.4 5.9 2.3 0.3

$5,000 to $9,999 ............................ 28.5 1.1 1.1 − 11.4 8.6 0.9

$10,000 to $24,999 ........................... 55.7 2.1 3.3 0.3 15.7 14.1 0.9

$25,000 to $49,999 ........................... 82.7 2.8 5.8 0.5 18.8 18.5 1.7

$50,000 to $99,999 ........................... 92.1 6.2 7.3 0.9 23.3 25.7 1.8

$100,000 to $249,999 ......................... 94.4 12.7 13.4 2.3 27.0 42.8 3.6

$250,000 to $499,999 ......................... 96.1 22.8 20.7 5.7 32.9 60.5 8.7

$500,000 and over ........................... 96.1 37.4 30.0 8.7 33.5 68.9 15.1

REGION

Northeast ................................. 61.5 8.3 6.3 1.0 21.8 27.2 2.1

Midwest .................................. 68.5 7.1 7.0 1.3 23.3 26.0 2.8

South .................................... 66.5 6.2 8.5 1.2 15.6 20.3 2.1

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57.8 7.7 7.9 2.4 15.3 25.0 3.4

TENURE

Owner ................................... 100.0 10.4 10.1 2.0 23.6 31.5 3.3

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . − 1.4 2.9 0.4 10.1 10.8 1.2

− Represents zero or rounds to zero

1Includes amount due from sale of business or property, and other financial assets.

Household Net Worth and Asset Ownership: 1995 5

U.S. Census Bureau
Table 3. Interest-Earning Asset Ownership Rates for Households, by Selected Characteristics: 1995

[Excludes group quarters]

Characteristics Number of households

(thousands)

Percent owning interest-earning assets

Total

Held at financial institute Other interest-earning assets

Total

Passbook

savings

accounts

Money

market

deposit

accounts

Certificates

of deposit

Interestearning

checking

accounts Total

Money

market

funds

U.S.

Government

securities

Municipal

and

corporate

bonds

Other

assets

Total .................... 99,088 70.3 69.8 59.5 10.5 13.4 36.4 7.8 3.3 1.9 3.0 2.0

RACE AND HISPANIC ORIGIN OF

HOUSEHOLDER

White....................... 84,224 73.5 72.9 61.7 11.6 14.9 39.1 8.8 3.8 2.2 3.4 2.2

Black....................... 11,719 47.6 47.4 43.4 2.6 3.7 17.0 1.1 0.2 0.1 0.3 0.8

Hispanic origin ................ 8,161 49.8 49.6 44.8 3.4 3.4 19.1 1.7 0.8 0.3 0.5 0.6

AGE OF HOUSEHOLDER

Less than 35 years ............. 24,092 62.1 61.8 55.5 4.7 4.1 28.0 3.3 1.9 0.6 0.9 0.8

35 to 44 years................. 23,343 70.6 70.2 62.5 8.5 7.7 33.8 5.5 2.8 1.0 1.5 1.5

45 to 54 years................. 17,813 72.8 72.6 64.9 12.0 11.4 37.9 7.8 4.0 1.4 2.5 2.1

55 to 64 years................. 12,338 72.0 71.1 58.9 13.2 16.4 39.7 10.4 4.3 2.6 4.4 2.6

65 years and over .............. 21,502 76.0 75.1 56.6 16.1 30.0 45.7 13.8 4.3 4.4 6.5 3.5

65 to 69 years ............... 6,056 75.7 74.7 59.1 15.6 25.6 45.5 15.3 5.8 4.7 7.3 3.7

70 to 74 years ............... 5,834 75.7 74.8 58.0 18.0 30.0 45.6 14.2 4.7 4.1 6.7 3.6

75 and over................. 9,612 76.3 75.4 54.2 15.2 32.7 45.9 12.6 3.1 4.5 5.9 3.3

EDUCATION OF HOUSEHOLDER

Less than 12 years ............. 20,597 50.3 50.1 41.0 5.3 11.9 22.3 2.6 0.8 0.6 1.0 0.7

High school: 4 years ............ 31,669 67.5 67.1 57.4 8.1 13.5 32.7 5.2 1.4 1.5 1.7 1.7

College: 1 to 3 years ......... 23,665 74.4 73.9 64.8 8.9 11.5 37.4 6.8 2.8 1.7 2.3 1.9

4 or more years ...... 23,158 87.6 86.7 73.5 19.8 16.6 53.2 16.9 8.6 3.9 7.2 3.7

TYPE OF HOUSEHOLD BY AGE OF

HOUSEHOLDER

Married-couple households ........ 54,685 77.7 77.3 67.4 12.7 14.9 41.8 9.0 4.0 2.1 3.6 2.3

Less than 35 years ............ 11,753 70.6 70.5 64.2 6.6 5.0 32.8 3.3 1.9 0.6 0.7 0.8

35 to 54 years ............... 25,949 78.6 78.2 70.7 12.0 10.9 40.7 7.6 4.0 1.4 2.3 2.1

55 to 64 years ............... 7,495 80.1 79.0 65.8 16.4 19.8 46.6 12.6 5.2 3.1 5.6 3.2

65 years and over............. 9,487 82.3 81.8 63.7 19.3 34.2 52.3 17.3 5.6 5.4 9.4 4.2

Male householder .............. 16,044 63.8 63.1 51.8 7.4 9.2 31.7 6.7 3.5 1.3 2.0 1.4

Less than 35 years ............ 5,402 61.1 60.5 52.7 3.5 4.1 27.2 4.8 3.0 0.8 1.6 0.9

35 to 54 years ............... 6,336 62.9 62.4 53.2 8.0 6.7 29.9 5.9 3.5 0.6 1.2 1.2

55 to 64 years ............... 1,539 62.2 61.5 48.3 8.9 10.7 33.6 7.1 3.6 1.2 3.0 1.8

65 years and over............. 2,767 71.9 70.4 48.7 12.7 24.3 43.4 11.9 4.5 4.0 4.1 2.8

Female householder............. 28,359 59.5 59.0 48.6 7.8 12.9 28.8 6.0 1.9 1.8 2.3 1.7

Less than 35 years ............ 6,937 48.4 48.2 42.9 2.5 2.6 20.6 2.1 1.0 0.6 0.5 0.6

35 to 54 years ............... 8,869 57.1 57.0 50.1 5.7 6.5 24.6 3.7 1.2 0.7 1.5 1.3

55 to 64 years ............... 3,305 58.2 57.9 48.4 8.0 11.5 26.7 7.0 2.6 2.2 2.2 1.6

65 years and over............. 9,248 70.7 69.6 51.6 13.8 27.4 39.7 10.7 2.9 3.6 4.2 2.9

LABOR FORCE ACTIVITY OF

HOUSEHOLDERS UNDER 65

YEARS

Total .................... 77,586 68.7 68.3 60.3 8.9 8.8 33.9 6.1 3.0 1.2 2.0 1.6

With labor force activity........... 66,357 72.5 72.1 64.0 9.4 9.0 35.7 6.2 3.2 1.2 1.9 1.7

With job entire period .......... 61,405 74.3 73.9 65.7 9.8 9.3 36.6 6.4 3.3 1.2 2.0 1.8

With job part of period .......... 3,518 55.0 54.9 47.1 4.6 5.6 27.4 3.6 2.2 1.0 1.2 0.5

No job during period, spent time

looking or on layoff ........... 1,434 39.8 39.8 32.8 4.8 4.1 20.0 3.0 1.2 1.5 0.7 0.4

No labor force activity............ 11,229 46.1 45.6 38.3 5.8 7.7 23.0 5.7 2.2 1.5 2.5 1.3

Monthly Household Income

Lowest quintile ................ 19,838 41.4 41.1 32.0 4.1 8.6 18.2 2.2 1.1 0.7 0.8 0.4

Second quintile ................ 19,812 62.6 62.1 50.9 6.8 13.7 29.2 4.4 1.3 1.3 1.4 1.3

Third quintile.................. 19,811 73.7 73.3 62.7 9.2 13.6 36.5 7.2 2.3 2.0 2.7 2.1

Fourth quintile ................. 19,812 82.3 81.8 71.6 11.2 13.9 42.4 9.1 3.8 2.1 3.5 2.3

Highest quintile ................ 19,814 91.3 90.5 80.4 21.0 17.3 56.0 16.1 8.0 3.5 6.5 4.0

Household Net Worth

Negative or zero ............... 10,247 34.2 34.2 29.2 1.3 1.5 15.5 0.6 0.3 0.1 0.2 0.1

$1 to $4,999 .................. 14,092 43.2 43.0 37.4 1.3 1.6 14.5 0.5 0.2 0.1 0.1 0.3

$5,000 to $9,999 ............... 6,022 62.7 62.2 54.9 2.3 4.2 21.7 1.2 0.5 0.1 − 0.5

$10,000 to $24,999 ............. 11,629 69.8 69.5 61.5 4.7 6.3 31.3 2.5 1.1 0.2 0.4 0.9

$25,000 to $49,999 ............. 11,633 73.4 73.0 63.8 6.9 10.0 34.4 44.2 1.8 0.6 0.7 1.5

$50,000 to $99,999 ............. 16,111 79.2 78.7 68.1 9.6 15.3 39.9 6.0 2.5 1.4 1.4 1.8

$100,000 to $249,999............ 18,862 89.3 88.6 74.6 17.9 25.2 54.6 12.4 5.0 3.2 3.8 3.1

$250,000 to $499,999............ 7,028 94.8 93.8 74.9 32.0 35.0 63.0 26.8 11.3 7.1 12.5 6.2

$500,000 and over.............. 3,464 96.7 93.5 72.7 40.3 31.5 68.3 44.4 20.2 13.0 27.9 9.1

REGION

Northeast .................... 20,184 74.2 73.6 62.9 12.5 12.4 38.4 8.9 4.0 2.8 3.3 1.8

Midwest ..................... 25,569 75.3 74.7 64.2 10.3 17.7 38.5 7.9 3.2 1.9 2.6 2.3

South ...................... 33,414 63.2 62.8 51.9 9.4 12.7 34.0 6.5 2.9 1.4 2.7 1.7

West . . . . . . . . . . . . . . . . . . . . . . . 19,921 71.7 71.2 62.8 10.3 10.2 36.0 8.7 3.3 2.0 3.5 2.5

TENURE

Owner ...................... 63,663 79.9 79.3 67.4 13.9 17.7 44.0 10.3 4.4 2.5 4.1 2.6

Renter ...................... 35,424 52.9 52.6 45.3 4.2 5.7 22.9 3.3 1.4 0.8 0.9 0.9

− Represents zero or rounds to zero

6 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 4. Percent Distribution of Household Net Worth, by Amount of Net Worth and Selected Characteristics:

1995

[Excludes group quarters]

Characteristics Number of

households

(thousands)

Amount of net worth (in dollars)

Zero or

negative

$1

to $4,999

$5,000

to $9,999

$10,000

to $24,999

$25,000

to $49,999

$50,000

to $99,999

$100,000

to $249,999

$250,000

to $499,999

$500,000

and

over

Total ........................ 99,088 10.3 14.2 6.1 11.7 11.7 16.3 19.0 7.1 3.5

RACE AND HISPANIC ORIGIN OF

HOUSEHOLDER

White........................... 84,224 8.8 12.5 6.0 11.3 11.7 16.8 21.1 7.9 4.0

Black ........................... 11,719 21.7 24.7 6.8 13.9 12.6 14.0 5.5 0.6 0.2

Hispanic origin..................... 8,161 17.8 28.3 9.0 12.9 9.9 10.7 8.6 2.4 0.5

AGE OF HOUSEHOLDER

Less than 35 years.................. 24,092 19.3 24.9 11.1 17.7 11.2 9.3 5.2 1.0 0.3

35 to 44 years ..................... 23,343 10.2 15.1 6.5 13.5 14.5 18.0 16.0 4.3 2.0

45 to 54 years ..................... 17,813 8.7 9.0 4.8 10.3 12.2 17.9 23.2 9.2 4.6

55 to 64 years ..................... 12,338 5.8 8.7 3.5 7.5 8.6 18.3 29.1 12.0 6.4

65 years and over .................. 21,502 4.4 8.8 2.4 6.6 10.8 19.6 28.6 12.4 6.2

65 to 69 years ................... 6,056 4.5 7.9 1.8 5.7 9.6 17.9 29.8 15.6 7.2

70 to 74 years ................... 5,834 4.4 8.1 2.1 6.0 9.9 20.8 30.1 12.0 6.6

75 and over ..................... 9,612 4.4 9.8 3.1 7.6 12.2 20.0 27.0 10.7 5.3

EDUCATION OF HOUSEHOLDER

Less than 12 years.................. 20,597 15.1 20.7 6.5 10.5 12.3 16.1 14.5 3.4 0.9

High school: 4 years ................ 31,669 9.4 15.1 6.5 12.6 11.7 17.0 19.6 6.1 2.0

College: 1 to 3 years ............. 23,665 9.7 15.4 6.8 12.9 11.9 15.6 18.2 6.2 3.1

4 or more years........... 23,158 8.1 6.0 4.4 10.4 11.1 16.0 23.2 12.6 8.2

TYPE OF HOUSEHOLD BY AGE OF

HOUSEHOLDER

Married-couple household ............. 54,685 6.1 8.9 4.9 11.3 12.7 18.1 23.6 9.4 5.0

Less than 35 years ................ 11,753 12.4 18.6 10.6 20.5 15.8 13.4 7.1 1.3 0.3

35 to 54 years ................... 25,949 5.8 7.7 4.6 11.0 14.4 20.5 23.4 8.6 3.9

55 to 64 years ................... 7,495 2.7 4.7 2.1 6.0 7.1 17.4 35.3 15.2 9.5

65 years and over................. 9,487 1.5 3.7 1.0 4.7 8.7 18.1 35.1 17.1 10.1

Male householder .................. 16,044 13.5 20.1 8.7 14.5 11.3 12.7 12.8 4.1 2.3

Less than 35 years ................ 5,402 19.0 28.0 13.5 17.9 9.3 6.4 4.6 1.2 0.1

35 to 54 years ................... 6,336 12.5 18.5 7.4 14.3 13.3 14.5 13.1 3.6 2.8

55 to 64 years ................... 1,539 11.5 13.8 5.0 13.7 8.1 13.7 21.7 10.0 2.5

65 years and over................. 2,767 5.9 11.8 4.4 8.7 12.3 20.1 23.3 8.1 5.5

Female householder................. 28,359 16.8 21.1 6.8 11.1 10.1 14.7 13.8 4.3 1.3

Less than 35 years ................ 6,937 31.3 33.0 10.2 12.9 4.9 4.9 2.5 0.2 0.2

35 to 54 years ................... 8,869 18.1 22.2 8.2 13.9 10.8 12.9 10.7 2.2 1.0

55 to 64 years ................... 3,305 10.3 15.2 5.9 8.2 12.3 22.5 18.6 5.8 1.3

65 years and over................. 9,248 7.0 13.2 3.4 8.0 12.5 21.1 23.5 8.9 2.4

LABOR FORCE ACTIVITY OF

HOUSEHOLDERS UNDER 65 YEARS

Total ........................ 77,586 12.0 15.7 7.1 13.1 12.0 15.3 16.4 5.6 2.7

With labor force activity ............... 66,357 10.3 14.6 7.5 13.8 12.9 15.7 16.7 5.7 2.8

With job entire period............... 61,405 9.3 13.6 7.4 14.0 13.1 16.3 17.4 6.0 2.9

With job part of period .............. 3,518 21.3 26.3 9.0 12.4 9.5 9.3 8.4 2.1 1.7

No job during period, spent looking or on

layoff......................... 1,434 26.2 30.3 5.9 6.7 9.6 9.6 9.7 1.7 0.4

No labor force activity ................ 11,229 21.8 22.2 4.7 9.4 6.8 12.8 14.4 5.4 2.6

MONTHLY HOUSEHOLD INCOME

Lowest quintile .................... 19,838 22.0 27.8 6.0 10.5 10.1 12.2 8.5 2.1 0.8

Second quintile .................... 19,812 12.4 20.5 7.7 11.5 10.8 15.4 16.7 4.5 0.5

Third quintile ...................... 19,811 7.9 13.6 8.8 13.8 11.9 16.0 19.6 6.3 2.2

Fourth quintile ..................... 19,812 6.5 6.8 6.0 14.5 14.8 19.2 20.8 8.1 3.3

Highest quintile .................... 19,814 2.8 2.4 1.9 8.4 11.1 18.5 29.6 14.5 10.7

REGION

Northeast ........................ 20,184 12.7 12.6 4.5 9.3 8.8 15.9 23.5 9.0 3.7

Midwest ......................... 25,569 8.9 12.2 5.8 11.9 12.9 18.8 20.1 6.6 2.9

South........................... 33,414 10.2 15 6.8 13.6 13.8 16.5 15.7 5.5 2.8

West . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,921 9.9 17.2 6.9 10.8 9.7 12.9 18.8 8.5 5.2

TENURE

Owner .......................... 63,663 2.0 2.9 2.7 10.2 15.1 23.3 28.0 10.6 5.2

Renter .......................... 35,424 25.2 34.6 12.1 14.5 5.7 3.6 3.0 0.8 0.4

Household Net Worth and Asset Ownership: 1995 7

U.S. Census Bureau
Table 5. Average (Mean) Value of Assets for Households, by Type of Asset Owned and Selected Characteristics: 1995

[In dollars. Excludes group quarters]

Characteristics

Net worth

Interest-earning

assets at financial

institutions

Other interestearning assets

Regular

checking

accounts

Stocks and

mutual fund

share

Equity in

business or

profession

Equity in

motor vehicles

Total ................................. 102,626 14,241 59,691 1,213 41,214 55,492 9,523

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White.................................... 112,840 15,312 59,945 1,237 41,882 57,129 9,806

Black.................................... 30,531 3,642 (B) 887 12,305 19,513 7,035

Hispanic origin ............................. 38,986 5,494 (B) 895 32,164 28,763 6,291

AGE OF HOUSEHOLDER

Less than 35 years .......................... 27,210 3,660 32,892 783 12,816 41,142 7,792

35 to 44 years.............................. 73,332 6,974 21,624 1,045 30,091 60,140 9,450

45 to 54 years.............................. 128,190 12,842 50,820 1,455 38,727 62,881 11,353

55 to 64 years.............................. 166,384 15,697 75,171 1,197 65,055 47,931 11,581

65 years and over ........................... 161,164 31,536 80,820 1,762 56,588 58,870 8,666

65 to 69 years ............................ 188,506 26,649 73,613 1,868 57,359 66,308 10,804

70 to 74 years ............................ 160,793 27,291 69,659 1,606 51,616 49,478 8,942

75 and over.............................. 144,165 37,135 94,000 1,790 59,570 (B) 6,875

EDUCATION OF HOUSEHOLDER

Less than 12 years .......................... 60,219 15,088 56,233 1,193 29,028 30,795 6,854

High school: 4 years ......................... 86,128 14,055 59,145 1,060 29,642 62,619 8,923

College: 1 to 3 years ...................... 94,122 12,248 51,245 1,028 36,395 50,828 9,447

4 or more years ................... 171,592 15,732 63,871 1,630 52,247 61,337 12,363

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households ..................... 132,552 14,498 60,377 1,301 45,166 56,069 11,558

Less than 35 years ......................... 37,290 4,062 22,133 810 12,041 41,688 9,145

35 to 54 years ............................ 119,430 10,048 38,782 1,247 36,952 61,020 12,057

55 to 64 years ............................ 217,450 18,141 75,154 1,313 75,263 49,812 13,874

65 years and over.......................... 219,391 34,403 86,638 2,263 63,657 60,556 11,320

Male householder ........................... 71,071 11,538 47,235 1,425 33,080 68,073 7,005

Less than 35 years ......................... 23,503 3,124 50,399 856 13,900 49,145 6,654

35 to 54 years ............................ 76,363 9,552 17,912 1,866 31,549 74,349 7,080

55 to 64 years ............................ 104,819 12,837 (B) 1,330 41,559 (B) 8,007

65 years and over.......................... 133,061 28,784 71,947 1,720 55,615 (B) 6,997

Female householder.......................... 62,771 15,217 65,561 878 32,981 30,142 6,194

Less than 35 years ......................... 13,018 3,174 (B) 658 14,474 (B) 5,873

35 to 54 years ............................ 46,469 7,618 44,635 783 23,550 42,617 6,650

55 to 64 years ............................ 79,247 9,536 81,361 846 29,680 (B) 7,060

65 years and over.......................... 109,838 28,912 74,125 1,187 45,309 (B) 5,565

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total ................................. 86,403 8,932 46,375 1,093 35,887 55,186 9,739

With labor force activity........................ 87,655 8,462 44,108 1,125 33,370 55,181 9,891

With job entire period ....................... 91,164 8,593 44,955 1,136 32,741 56,027 10,111

With job part of period ....................... 47,794 5,759 (B) 977 46,227 24,185 7,000

No job during period, spent time looking or on layoff . . . 35,170 6,900 (B) 809 (B) (B) 6,316

No labor force activity......................... 79,002 13,327 61,104 821 60,780 55,367 8,620

Monthly Household Income

Lowest quintile ............................. 41,001 8,150 25,644 679 35,937 32,113 4,998

Second quintile ............................. 60,800 13,211 31,139 797 24,058 27,866 6,305

Third quintile............................... 85,615 12,834 37,863 1,010 27,946 45,024 8,364

Fourth quintile .............................. 107,272 12,918 46,419 1,223 30,548 53,866 10,854

Highest quintile ............................. 218,510 19,999 89,358 2,045 58,849 80,433 15,450

Household Net Worth

Negative or zero ............................ -6,937 1,178 (B) 532 2,980 -2,606 3,724

$1 to $4,999 ............................... 2,108 839 (B) 492 1,882 586 2,801

$5,000 to $9,999 ............................ 7,330 1,909 (B) 795 2,643 1,759 5,836

$10,000 to $24,999 .......................... 16,684 3,414 4,533 872 3,752 6,366 8,467

$25,000 to $49,999 .......................... 36,573 5,010 8,139 1,042 7,172 9,651 9,221

$50,000 to $99,999 .......................... 73,030 8,273 12,569 1,098 11,569 15,966 10,465

$100,000 to $249,999......................... 157,347 17,534 27,988 1,503 27,311 41,112 12,669

$250,000 to $499,999......................... 341,379 38,921 53,063 2,387 59,092 103,042 15,655

$500,000 and over........................... 866,848 73,315 179,353 4,915 162,273 216,899 20,771

REGION

Northeast ................................. 116,465 14,308 51,267 1,256 43,362 55,738 9,626

Midwest .................................. 98,622 14,663 60,348 1,187 38,934 54,784 9,875

South ................................... 85,581 14,588 51,042 1,116 35,860 53,577 9,554

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122,332 13,077 78,861 1,339 49,426 58,760 8,929

TENURE

Owner ................................... 149,909 16,550 63,220 1,400 44,682 59,051 11,179

Renter ................................... 17,649 7,879 39,973 810 23,969 42,157 5,994

8 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 5. Average (Mean) Value of Assets for Households, by Type of Asset Owned and Selected

Characteristics: 1995—Con.

[In dollars. Excludes group quarters]

Characteristics Equity in

own home

Rental

property

equity

Other

real estate

equity

U.S. savings

bonds

IRA or

Keogh

accounts Other assets1

Total ...................................... 70,917 89,364 58,642 4,147 35,519 68,545

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White......................................... 73,058 95,116 53,932 4,278 36,703 69,586

Black......................................... 41,735 33,479 109,225 2,297 10,555 (B)

Hispanic origin .................................. 52,323 56,100 38,945 1,638 28,503 (B)

AGE OF HOUSEHOLDER

Less than 35 years ............................... 29,888 41,186 59,603 1,198 11,031 29,736

35 to 44 years................................... 54,624 56,725 49,389 3,109 21,578 52,005

45 to 54 years................................... 76,305 88,459 66,046 3,652 39,132 65,578

55 to 64 years................................... 90,735 129,036 66,679 5,555 46,531 76,986

65 years and over ................................ 92,729 93,355 50,458 8,667 52,961 83,122

65 to 69 years ................................. 99,289 102,136 43,889 7,208 59,675 107,468

70 to 74 years................................... 91,611 85,517 67,889 7,654 49,431 69,066

75 and over .................................... 88,868 91,753 41,818 11,677 43,617 72,902

EDUCATION OF HOUSEHOLDER

Less than 12 years ............................... 57,108 92,320 32,336 4,077 32,439 (B)

High school: 4 years .............................. 65,464 69,358 40,952 3,490 25,468 59,294

College: 1 to 3 years ........................... 66,166 102,891 61,198 3,138 30,679 50,963

4 or more years ........................ 91,902 94,359 77,746 5,513 45,113 90,077

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households .......................... 74,097 91,894 64,842 4,698 40,163 72,817

Less than 35 years .............................. 29,022 38,440 76,019 1,283 12,490 (B)

35 to 54 years ................................. 68,496 70,764 60,735 3,765 33,358 57,768

55 to 64 years ................................. 98,830 144,874 73,667 5,972 54,324 87,616

65 years and over............................... 103,319 98,270 59,781 11,124 59,593 93,684

Male householder ................................ 63,004 104,162 50,962 2,664 29,573 49,031

Less than 35 years .............................. 29,427 (B) (B) 843 10,845 (B)

35 to 54 years ................................. 58,838 126,379 70,255 2,431 26,316 (B)

55 to 64 years ................................. 81,098 (B) (B) (B) 29,226 (B)

65 years and over............................... 85,109 113,218 (B) 6,035 66,709 (B)

Female householder............................... 65,361 69,713 33,965 2,725 19,898 66,585

Less than 35 years .............................. 34,846 (B) (B) 1,190 6,665 (B)

35 to 54 years ................................. 50,160 44,789 37,783 1,629 18,907 (B)

55 to 64 years ................................. 69,908 78,911 (B) 3,540 18,369 (B)

65 years and over............................... 80,419 80,164 30,517 4,801 29,182 67,674

LABOR FORCE ACTIVITY OF HOUSEHOLDERS UNDER

65 YEARS

Total ...................................... 63,232 87,820 61,205 3,195 31,196 59,585

With labor force activity............................. 62,198 83,523 61,850 3,071 29,326 56,229

With job entire period ............................ 62,732 82,254 64,100 3,085 29,273 55,480

With job part of period ............................ 52,294 (B) 33,310 2,952 32,171 (B)

No job during period, spent time looking or on layoff ........ 48,352 (B) (B) (B) (B) (B)

No labor force activity.............................. 70,782 119,223 56,227 4,611 49,180 (B)

Monthly Household Income

Lowest quintile .................................. 56,902 92,091 41,393 2,136 41,647 (B)

Second quintile .................................. 60,907 34,997 39,455 2,256 26,286 38,217

Third quintile.................................... 64,576 80,276 36,614 3,777 31,775 52,795

Fourth quintile ................................... 64,804 79,140 49,330 4,439 30,597 60,433

Highest quintile .................................. 94,483 119,001 82,921 4,980 42,206 98,831

Household Net Worth

Negative or zero ................................. 10,052 (B) (B) 704 8,747 (B)

$1 to $4,999 .................................... 2,911 (B) (B) 559 3,031 (B)

$5,000 to $9,999 ................................. 5,315 (B) (B) 908 3,969 (B)

$10,000 to $24,999 ............................... 11,593 4,267 9,591 1,208 6,530 (B)

$25,000 to $49,999 ............................... 25,610 6,739 15,790 1,364 10,552 (B)

$50,000 to $99,999 ............................... 50,377 19,641 19,809 2,623 15,174 18,744

$100,000 to $249,999.............................. 92,345 40,399 37,975 4,702 26,991 41,126

$250,000 to $499,999.............................. 147,396 91,977 75,920 8,779 51,938 68,474

$500,000 and over................................ 234,041 281,256 183,809 14,022 128,652 190,719

REGION

Northeast ...................................... 92,276 96,041 58,538 4,540 36,171 73,970

Midwest ....................................... 61,083 71,651 44,612 4,182 32,767 72,157

South ........................................ 55,116 76,643 59,379 3,357 34,007 58,924

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93,329 120,367 73,356 4,868 40,529 71,924

TENURE

Owner ........................................ 70,917 91,157 57,988 4,754 38,874 74,743

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (B) 65,089 62,695 1,603 17,894 30,462

(B) Base is less than 200,000

1Includes mortgages held from sale of real estate, amount due from sale of business or property, and other financial assets.

Household Net Worth and Asset Ownership: 1995 9

U.S. Census Bureau
Table 6. Standard Errors for Median Value of Assets for Households, by Type of Asset Owned and Selected

Characteristics: 1995

[In dollars. Excludes group quarters]

Characteristics

Net worth

Interest-earning

assets at financial

institutions

Other interestearning assets

Regular

checking

accounts

Stocks and

mutual fund

shares

Equity in

business or

profession

Equity in

motor vehicles

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 473 35 565 7 236 301 59

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611 43 577 8 252 331 64

Black. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 45 (B) 25 475 513 117

Hispanic origin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 55 (B) 27 1,285 1,186 124

AGE OF HOUSEHOLDER

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . . 185 29 601 13 264 433 98

35 to 44 years. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 758 52 467 16 283 511 115

45 to 54 years.............................. 1,615 79 1,100 19 447 852 161

55 to 64 years.............................. 2,682 181 2,087 22 696 685 202

65 years and over ........................... 1,924 259 1,560 22 1,045 1,304 120

65 to 69 years ............................ 4,097 396 2,564 38 1,694 1,135 263

70 to 74 years ............................ 3,786 403 2,845 32 1,927 3,432 230

75 and over.............................. 2,616 447 2,597 35 1,817 (B) 146

EDUCATION OF HOUSEHOLDER

Less than 12 years . . . . . . . . . . . . . . . . . . . . . . . . . . 532 90 2,077 15 492 560 83

High school: 4 years . . . . . . . . . . . . . . . . . . . . . . . . . 773 56 1,676 12 323 483 96

College: 1 to 3 years . . . . . . . . . . . . . . . . . . . . . . 816 53 1,143 14 392 620 109

4 or more years ................... 1,799 94 794 21 426 658 144

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households . . . . . . . . . . . . . . . . . . . . . 924 51 706 10 265 409 92

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . 483 47 827 19 338 479 155

35 to 54 years ............................ 1,250 60 710 15 256 555 134

55 to 64 years ............................ 3,724 258 2,186 31 939 1,091 288

65 years and over.......................... 3,459 389 2,114 39 1,493 1,771 230

Male householder . . . . . . . . . . . . . . . . . . . . . . . . . . . 490 70 933 19 610 974 107

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . 299 61 1,255 31 507 1,268 165

35 to 54 years ............................ 1,049 116 748 32 929 1,643 153

55 to 64 years ............................ 3,782 370 (B) 73 1,612 (B) 406

65 years and over.......................... 4,177 655 3,763 73 3,486 (B) 255

Female householder. . . . . . . . . . . . . . . . . . . . . . . . . . 341 57 1,780 12 556 93 65

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . 151 33 (B) 18 630 (B) 129

35 to 54 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . 457 61 1,966 22 566 529 118

55 to 64 years ............................ 2,737 223 10,322 37 977 (B) 215

65 years and over.......................... 2,241 361 2,702 26 1,525 (B) 123

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387 31 489 8 184 314 66

With labor force activity. . . . . . . . . . . . . . . . . . . . . . . . 440 31 507 8 194 339 71

With job entire period . . . . . . . . . . . . . . . . . . . . . . . 497 32 533 8 197 363 76

With job part of period . . . . . . . . . . . . . . . . . . . . . . . 483 101 (B) 31 1,681 1,309 230

No job during period, spent time looking or on layoff . . . 429 167 (B) 50 (B) (B) 330

No labor force activity. . . . . . . . . . . . . . . . . . . . . . . . . 416 129 2,509 17 781 573 159

Monthly Household Income

Lowest quintile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 61 939 11 672 482 73

Second quintile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 593 65 1,812 12 530 504 80

Third quintile. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 924 59 1,315 15 469 434 103

Fourth quintile .............................. 1,208 65 1,089 17 404 579 132

Highest quintile ............................. 2,283 127 970 29 452 967 176

REGION

Northeast ................................. 1,456 86 1,167 17 457 603 134

Midwest .................................. 1,012 75 975 14 440 712 114

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 638 61 1,050 13 449 679 103

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 997 76 1,527 18 510 554 124

TENURE

Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 887 57 661 10 289 423 83

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 27 943 11 290 327 58

10 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 6. Standard Errors for Median Value of Assets for Households, by Type of Asset Owned and Selected

Characteristics: 1995—Con.

[In dollars. Excludes group quarters]

Characteristics Equity in

own home

Rental

property

equity

Other real

estate equity

U.S. savings

bonds

IRA or

Keogh

accounts Other assets1

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 512 1,547 748 17 270 1,419

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 547 1,816 775 20 280 1,449

Black......................................... 1,298 676 1,707 35 426 (B)

Hispanic origin .................................. 1,589 2,513 3,075 51 1,155 (B)

AGE OF HOUSEHOLDER

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 537 1,697 1,004 19 254 842

35 to 44 years. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 795 2,105 1,704 30 394 2,454

45 to 54 years................................... 1,137 3,517 1,697 42 593 2,859

55 to 64 years................................... 1,355 5,623 2,135 72 849 3,275

65 years and over ................................ 1,003 2,395 1,352 88 938 2,576

65 to 69 years ................................. 1,899 4,258 2,138 136 1,631 7,380

70 to 74 years ................................. 1,937 7,409 3,540 178 1,621 3,987

75 and over................................... 1,594 1,729 1,644 116 1,707 4,251

EDUCATION OF HOUSEHOLDER

Less than 12 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 960 682 1,600 29 1,003 (B)

High school: 4 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 875 1,745 1,252 27 452 2,502

College: 1 to 3 years ........................... 1,042 4,169 1,355 29 447 2,532

4 or more years ........................ 1,178 3,590 1,867 43 503 2,574

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households . . . . . . . . . . . . . . . . . . . . . . . . . . 641 2,185 1,025 26 380 1,819

Less than 35 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 644 4,183 1,280 25 395 (B)

35 to 54 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 829 2,346 1,673 34 452 2,143

55 to 64 years ................................. 1,924 6,517 3,039 84 1,177 3,896

65 years and over............................... 1,603 5,243 2,247 123 1,483 4,919

Male householder ................................ 1,281 3,130 1,574 40 523 3,762

Less than 35 years .............................. 1,279 (B) (B) 24 486 (B)

35 to 54 years ................................. 1,656 6,945 2,245 66 688 (B)

55 to 64 years ................................. 4,499 (B) (B) (B) 2,200 (B)

65 years and over............................... 2,632 3,982 (B) 432 2,443 (B)

Female householder. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 971 1,885 738 30 435 2,807

Less than 35 years .............................. 1,389 (B) (B) 37 418 (B)

35 to 54 years ................................. 1,495 3,572 2,605 32 605 (B)

55 to 64 years ................................. 2,223 9,472 (B) 150 1,144 (B)

65 years and over............................... 1,450 1,431 889 112 1,071 3,949

LABOR FORCE ACTIVITY OF HOUSEHOLDERS UNDER

65 YEARS

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 549 1,862 958 16 258 1,593

With labor force activity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 559 1,985 978 17 257 1,438

With job entire period . . . . . . . . . . . . . . . . . . . . . . . . . . . . 577 1,907 1,044 17 262 1,546

With job part of period ............................ 2,639 (B) 1,682 83 1,408 (B)

No job during period, spent time looking or on layoff ........ 4,445 (B) 4,634 (B) (B) (B)

No labor force activity.............................. 1,885 6,901 2,533 49 1,298 (B)

Monthly Household Income

Lowest quintile .................................. 1,048 2,571 1,252 29 1,060 (B)

Second quintile .................................. 1,080 1,261 1,317 21 679 3,028

Third quintile. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,111 3,175 1,198 30 571 3,106

Fourth quintile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 990 3,111 1,346 37 484 3,094

Highest quintile .................................. 1,204 3,739 1,893 41 497 2,624

REGION

Northeast ...................................... 1,359 2,326 2,337 52 565 3,410

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 844 2,230 1,348 31 462 2,711

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 701 2,842 858 28 489 2,463

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,570 5,618 2,396 41 624 2,867

TENURE

Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 512 1,639 806 25 330 1,530

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (B) 3,014 1,677 19 369 1,529

(B) Base is less than 200,000

1Includes mortgages held from sale of real estate, amount due from sale of business or property, and other financial assets.

Household Net Worth and Asset Ownership: 1995 11

U.S. Census Bureau
Table 7. Standard Errors for Average (Mean) Value of Assets for Households, by Type of Asset Owned and

Selected Characteristics: 1995

[In dollars. Excludes group quarters]

Characteristics

Net worth

Interest-earning

assets at financial

institutions

Other interestearning assets

Regular

checking

accounts

Stocks and

mutual fund

shares

Equity in

business or

profession

Equity in

motor vehicles

Total ................................. 1,581 419 4,026 52 1,808 3,194 88

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White.................................... 1,788 467 4,114 57 1,884 3,397 97

Black.................................... 2,294 334 (B) 70 2,416 5,736 209

Hispanic origin ............................. 2,471 598 (B) 59 8,534 7,425 233

AGE OF HOUSEHOLDER

Less than 35 years .......................... 1,396 195 8,071 27 1,223 5,771 135

35 to 44 years.............................. 2,174 455 3,783 45 2,693 6,680 165

45 to 54 years.............................. 4,175 802 8,799 210 3,309 5,969 240

55 to 64 years.............................. 6,200 1,000 9,850 75 8,215 7,550 302

65 years and over ........................... 4,037 1,435 8,000 130 3,539 11,079 191

65 to 69 years ............................ 9,083 2,683 11,973 228 7,055 18,537 436

70 to 74 years ............................ 6,767 2,600 10,278 174 5,338 13,500 341

75 and over.............................. 5,606 2,212 15,791 237 5,758 (B) 222

EDUCATION OF HOUSEHOLDER

Less than 12 years .......................... 2,234 977 13,312 238 4,830 5,521 172

High school: 4 years ......................... 2,092 759 8,661 45 2,346 6,886 138

College: 1 to 3 years ...................... 3,038 861 7,900 50 3,246 5,153 166

4 or more years ................... 4,697 789 5,968 112 3,335 5,919 218

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households ..................... 2,435 545 5,098 53 2,498 3,510 125

Less than 35 years ......................... 2,417 278 5,464 36 1,422 6,807 201

35 to 54 years ............................ 2,962 485 6,199 71 2,607 4,785 184

55 to 64 years ............................ 9,392 1,403 12,596 105 10,671 8,688 409

65 years and over.......................... 7,072 2,334 10,884 245 5,704 12,108 295

Male householder ........................... 3,522 839 9,166 279 3,414 10,559 182

Less than 35 years ......................... 2,744 317 22,289 60 2,967 14,594 254

35 to 54 years ............................ 6,046 1,132 7,645 702 5,284 15,542 286

55 to 64 years ............................ 11,099 1,791 (B) 239 14,816 (B) 669

65 years and over.......................... 11,717 3,313 20,527 215 8,340 (B) 557

Female householder.......................... 1,900 918 8,957 44 2,404 8,254 127

Less than 35 years ......................... 1,341 427 (B) 56 3,441 (B) 218

35 to 54 years ............................ 2,937 1,366 11,733 57 4,817 15,738 241

55 to 64 years ............................ 4,997 1,107 16,549 80 4,528 (B) 406

65 years and over.......................... 4,322 2,001 14,127 124 3,772 (B) 216

LABOR FORCE ACTIVITY OF HOUSEHOLDERS

UNDER 65 YEARS

Total ................................. 1,650 302 4,125 56 2,092 3,336 99

With labor force activity........................ 1,766 309 4,320 62 2,019 3,354 103

With job entire period ....................... 1,862 323 4,483 65 2,003 3,434 108

With job part of period ....................... 6,453 896 (B) 112 14,719 8,471 389

No job during period, spent time looking or on layoff . . . 6,153 1,737 (B) 164 (B) (B) 594

No labor force activity......................... 4,587 1,191 12,885 67 10,820 24,810 331

Monthly Household Income

Lowest quintile ............................. 1,720 491 6,219 51 5,169 4,809 145

Second quintile ............................. 1,730 681 3,641 49 1,990 4,701 137

Third quintile............................... 2,484 743 4,233 46 2,002 6,214 152

Fourth quintile .............................. 3,084 861 4,633 63 2,592 5,902 174

Highest quintile ............................. 6,234 1,221 9,281 217 4,036 7,499 267

Household Net Worth

Negative or zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . 517 147 (B) 35 972 7,369 144

$1 to $4,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 39 (B) 32 540 179 57

$5,000 to $9,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 105 (B) 48 439 607 116

$10,000 to $24,999 . . . . . . . . . . . . . . . . . . . . . . . . . . 104 132 589 44 336 1,358 144

$25,000 to $49,999 . . . . . . . . . . . . . . . . . . . . . . . . . . 172 209 1,016 60 532 1,003 192

$50,000 to $99,999 . . . . . . . . . . . . . . . . . . . . . . . . . . 291 302 1,249 53 648 1,460 183

$100,000 to $249,999. . . . . . . . . . . . . . . . . . . . . . . . . 771 533 1,893 69 1,126 2,414 198

$250,000 to $499,999......................... 2,092 1,799 4,213 257 3,075 7,125 439

$500,000 and over........................... 19,736 6,610 16,970 1,330 12,576 21,474 1,047

REGION

Northeast ................................. 3,632 920 6,715 203 4,803 7,909 185

Midwest .................................. 2,861 807 8,747 72 2,984 5,409 165

South ................................... 2,302 810 5,457 65 2,372 5,346 146

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,422 791 11,056 82 4,782 7,676 227

TENURE

Owner ................................... 2,250 521 4,555 74 2,096 3,585 117

Renter ................................... 1,061 634 7,282 32 2,702 6,987 100

12 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Table 7. Standard Errors for Average (Mean) Value of Assets for Households, by Type of Asset Owned and

Selected Characteristics: 1995—Con.

[In dollars. Excludes group quarters]

Characteristics Equity in

own home Rental property

Other

real estate

equity

U.S. savings

bonds

IRA or

Keogh

accounts Other assets1

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 837 5,119 4,246 352 1,206 4,830

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

White. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 902 5,636 3,157 379 1,278 5,019

Black......................................... 1,666 8,417 65,727 754 1,141 (B)

Hispanic origin .................................. 3,051 11,042 7,212 336 5,851 (B)

AGE OF HOUSEHOLDER

Less than 35 years ............................... 1,177 7,203 29,863 103 853 6,853

35 to 44 years................................... 1,370 7,960 5,332 341 1,251 13,285

45 to 54 years................................... 1,959 10,937 8,459 389 2,660 12,473

55 to 64 years................................... 2,280 12,861 7,604 658 3,272 12,675

65 years and over ................................ 1,854 10,111 4,945 1,793 3,495 7,252

65 to 69 years ................................. 3,819 20,120 6,609 1,229 6,047 15,238

70 to 74 years................................... 3,291 14,634 10,118 1,443 4,914 13,098

75 and over................................... 2,694 16,388 9,286 5,612 6,360 9,480

EDUCATION OF HOUSEHOLDER

Less than 12 years ............................... 1,493 18,949 3,683 783 4,466 (B)

High school: 4 years .............................. 1,244 7,977 4,306 329 1,299 6,667

College: 1 to 3 years ........................... 1,614 10,794 12,629 293 2,041 6,941

4 or more years ........................ 2,135 7,239 7,132 926 2,334 10,306

TYPE OF HOUSEHOLD BY AGE OF HOUSEHOLDER

Married-couple households .......................... 1,073 5,762 5,116 475 1,525 6,189

Less than 35 years .............................. 1,234 8,895 42,082 125 1,125 (B)

35 to 54 years ................................. 1,431 6,156 5,028 322 1,805 9,643

55 to 64 years ................................. 2,923 16,107 9,165 791 4,222 17,256

65 years and over............................... 2,841 13,398 6,250 2,956 4,433 10,223

Male householder ................................ 2,472 20,089 15,467 384 3,534 9,118

Less than 35 years .............................. 3,068 (B) (B) 187 2,158 (B)

35 to 54 years ................................. 3,362 40,434 30,804 529 4,356 (B)

55 to 64 years ................................. 6,972 (B) (B) 1,564 3,603 (B)

65 years and over............................... 6,254 35,756 (B) (B) 17,017 (B)

Female householder............................... 1,491 10,395 5,395 340 1,633 10,576

Less than 35 years .............................. 4,577 (B) (B) 290 1,362 (B)

35 to 54 years ................................. 2,333 14,422 8,444 271 2,990 (B)

55 to 64 years ................................. 3,673 20,248 (B) 927 2,024 (B)

65 years and over............................... 2,330 16,776 9,823 945 3,653 11,177

LABOR FORCE ACTIVITY OF HOUSEHOLDERS UNDER

65 YEARS

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 908 5,923 5,353 191 1,218 6,358

With labor force activity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 972 6,000 5,917 196 1,205 6,666

With job entire period ............................ 1,002 6,065 6,328 201 1,231 6,652

With job part of period ............................ 4,826 (B) 8,547 1,149 7,180 (B)

No job during period, spent time looking or on layoff ........ 4,539 (B) (B) (B) (B) (B)

No labor force activity.............................. 2,515 22,067 9,593 759 5,611 (B)

Monthly Household Income

Lowest quintile .................................. 1,800 19,552 10,900 403 6,060 (B)

Second quintile .................................. 1,537 4,504 4,863 388 2,332 6,131

Third quintile.................................... 1,620 11,294 3,592 524 2,881 6,778

Fourth quintile ................................... 1,565 8,042 6,038 1,080 1,834 7,889

Highest quintile .................................. 2,211 10,568 9,988 408 2,274 11,885

Household Net Worth

Negative or zero ................................. 2,293 (B) (B) 133 3,069 (B)

$1 to $4,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385 (B) (B) 73 453 (B)

$5,000 to $9,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 384 (B) (B) 140 327 (B)

$10,000 to $24,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 1,002 771 139 341 (B)

$25,000 to $49,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 334 1,665 1,384 125 501 (B)

$50,000 to $99,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 443 1,941 1,314 234 585 2,219

$100,000 to $249,999. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 886 2,249 1,984 331 801 2,900

$250,000 to $499,999.............................. 2,696 5,688 5,283 1,124 2,423 5,878

$500,000 and over................................ 8,720 21,508 26,658 4,785 9,266 20,436

REGION

Northeast ...................................... 2,065 13,452 5,717 513 2,512 11,276

Midwest ....................................... 1,330 8,144 4,304 399 1,962 11,395

South ........................................ 1,144 7,744 9,451 327 2,116 7,557

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,566 11,681 8,329 1,774 3,259 8,716

TENURE

Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 837 5,391 3,630 432 1,404 5,488

Renter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (B) 14,229 20,680 186 1,367 5,916

(B) Base is less than 200,000

1Includes mortgages held from sale of real estate, amount due from sale of business or property, and other financial assets.

Household Net Worth and Asset Ownership: 1995 13

U.S. Census Bureau
Table 8. Standard Errors for Median Net Worth and Median Net Worth Excluding Home Equity, by Age of

Householder and Monthly Household Income Quintile: 1995

[In dollars. Excludes group quarters]

Monthly household quintile1

Age of householder

Total Less than 35 35 to 44 45 to 54 55 to 64

65 and older

Total 65 to 69 70 to 74 75 and older

Median net worth . . . . . . . . . . . . . . . . . . . . 473 185 758 1,615 2,682 1,924 4,097 3,786 2,616

Excluding home equity . . . . . . . . . . . . . . . 142 130 246 496 752 610 1,505 1,208 723

Net worth by income quintile

Lowest quintile

Median net worth . . . . . . . . . . . . . . . . . . . . . 148 106 201 517 1,210 1,355 2,650 2,768 1,835

Excluding home equity . . . . . . . . . . . . . . . . 57 96 116 165 220 167 372 313 230

Second lowest quintile

Median net worth . . . . . . . . . . . . . . . . . . . . . 593 202 538 1,344 3,905 2,621 5,171 4,527 4,025

Excluding home equity . . . . . . . . . . . . . . . . 165 156 209 449 608 1,017 1,869 1,814 1,596

Third lowest quintile

Median net worth . . . . . . . . . . . . . . . . . . . . . 924 412 1,012 2,209 5,022 4,356 7,897 8,003 6,753

Excluding home equity . . . . . . . . . . . . . . . . 285 264 385 701 1,563 2,752 4,071 5,422 5,298

Fourth lowest quintile

Median net worth ..................... 1,208 754 1,612 2,917 5,795 8,504 14,107 14,438 17,151

Excluding home equity . . . . . . . . . . . . . . . . 414 463 584 965 2,809 6,515 10,253 9,542 13,269

Highest lowest quintile

Median net worth ..................... 2,283 1,935 3,002 4,586 8,177 18,669 26,085 31,504 49,147

Excluding home equity . . . . . . . . . . . . . . . . 960 1,011 1,237 2,325 5,068 14,707 18,062 22,770 38,800

1Quintile upper limits for 1995 were: lowest quintile: $1,096; second quintile: $2,002; third quintile: $3,254; fourth quintile: $4,973.

Table 9. Standard Errors for Median Net Worth and

Median Net Worth Excluding Home Equity of

Households, by Monthly Household Income

and Race and Hispanic Origin of Householder: 1995

[In dollars. Excludes group quarters]

Monthly household quintile1

Total White Black

Hispanic

origin2

Median net worth . . . . . . . . . . . . . . . 473 611 260 305

Excluding home equity . . . . . . . . . 142 187 93 124

Lowest quintile

Median net worth . . . . . . . . . . . . . . 148 305 89 131

Excluding home equity . . . . . . . . . 57 93 39 66

Second quintile

Median net worth . . . . . . . . . . . . . . 593 779 435 342

Excluding home equity . . . . . . . . . 165 218 167 168

Third quintile

Median net worth . . . . . . . . . . . . . . 924 1,154 942 997

Excluding home equity . . . . . . . . . 285 350 407 402

Forth quintile

Median net worth .............. 1,208 1,392 2,188 1,886

Excluding home equity . . . . . . . . . 414 487 637 709

Highest quintile

Median net worth .............. 2,283 2,482 3,402 8,064

Excluding home equity . . . . . . . . . 960 1,101 1,128 2,469

1Quintile upper limits for 1995 were: lowest quintile: $1,096; second quintile: $2,002; third

quintile: $3,109; fourth quintile: $4,973. 2People of Hispanic origin may be of any race.

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1993 panel.

Table 10. Standard Errors for Median Net Worth and

Median Net Worth Excluding Home Equity

of Households, by Type of Household and

Age of Householder: 1995

[In dollars. Excludes group quarters]

Type of household by age of householder

Median net worth and

median net worth

excluding equity in

own home

Married-couple households . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293

Less than 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264

35 to 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 416

55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,649

65 and over........................................ 1,667

Male householders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221

Less than 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 242

35 to 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 377

55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 954

65 and over........................................ 1,075

Female householders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105

Less than 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119

35 to 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183

55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 453

65 and over. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 439

Source: U.S. Census Bureau, Survey of Income and Program Participation, 1993 panel.

14 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Appendix A.

Definitions and Explanations

Population coverage. The estimates in this report are

restricted to the civilian, noninstitutional population of the

United States and members of the Armed Forces living off

post or with their families on post. The estimates exclude

people living in group quarters.

Geographic regions. Some of the data in this report are

presented for the four major regions of the United States.

Northeast. Connecticut, Maine, Massachusetts, New

Hampshire, New Jersey, New York, Pennsylvania, Rhode

Island, and Vermont.

Midwest (formerly North Central). Illinois, Indiana, Iowa,

Kansas, Michigan, Minnesota, Missouri, Nebraska, North

Dakota, Ohio, South Dakota, and Wisconsin.

South. Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

West. Alaska, Arizona, California, Colorado, Hawaii,

Idaho, Montana, Nevada, New Mexico, Oregon, Utah,

Washington, and Wyoming.

Householder. Survey procedures call for listing first the

person (or one of the people) in whose name the home is

owned or rented as of the interview date. If the house is

owned jointly by a married couple, either the husband or

the wife may be listed first, thereby becoming the reference person, or householder, to whom the relationship of

the other household members is recorded. One person in

each household is designated as the ‘‘householder.’’ The

number of householders, therefore, is equal to the number

of households.

Household. A household consists of all people who

occupy a housing unit. A house, an apartment or other

group of rooms, or a single room is regarded as a housing

unit when it is occupied or intended for occupancy as

separate living quarters; that is, when the occupants do

not live and eat with any other people in the structure and

there is either (1) direct access from the outside or

through a common hall or (2) a kitchen or cooking equipment for the exclusive use of the occupants.

For this report, the household composition was determined as of the interview date. A household includes the

related family members and all the unrelated people, if

any, such as lodgers, foster children, wards, or employees

who share the housing unit. A person living alone in a

housing unit or a group of unrelated people sharing a

housing unit as partners is also counted as a household.

The count of households excludes group quarters.

Examples of group quarters include rooming and boarding

houses, college dormitories, and convents and monasteries.

Race. The data in this report are analyzed using three

racial groups: White, Black, and ‘‘other races.’’

People of Hispanic origin. People of Hispanic origin

were determined on the basis of a question that asked for

self-identification of the respondent’s origin or descent.

Respondents were asked to select their origin (or the origin of some other household member) from a ‘‘flash card’’

listing ethnic origins. People of Hispanic origin, in particular, were those who indicated that their origin was Mexican, Puerto Rican, Cuban, Central or South American, or

some other Hispanic origin. Hispanics may be of any race.

Monthly income. Income represents amounts actually

received during the 4-month reference period, before

deductions for items such as income and payroll taxes,

union dues, and Part B Medicare premiums. The monthly

income estimates shown in this report for households are

based on the sum of the monthly income received by each

member of the household aged 15 years old or over at the

date of interview. The figures represent the average

monthly amounts received by households during the

appropriate 4-month reference period for each rotation

group. To calculate the monthly income figures, the composition of the household was fixed at the date of the

interview and the total cash income of household members 15 years of age and older for the 4-month reference

period was divided by 4. The cash income concept used in

this report includes the sum of all income received from

any of the sources listed in Table A-1. The following are

excluded: rebates, refunds, loans, and capital gain or loss

amounts from the sale of assets, interhousehold transfers

of cash (such as allowances), accrued interest on Individual Retirement Accounts, Keogh retirement plans, and

U.S. Savings bonds. This definition differs somewhat from

that used in the annual income reports based on the

March Current Population Survey (CPS) income supplement

questionnaire. The data in those reports, published in the

P-60 ‘‘Consumer Income Series’’ are based only on income

received in a regular or periodic manner and therefore

exclude lump-sum or one-time payments, such as inheritances or insurance settlements. The March CPS income

definition also excludes those same income sources

excluded by the SIPP.

Household Net Worth and Asset Ownership: 1995 A-1

U.S. Census Bureau
The SIPP income definitions include three types of earnings: wages and salary, nonfarm self-employment, and

farm self-employment. The definition of nonfarm selfemployment and farm self-employment is not based on

the net difference between gross receipts or sales and

operating expenses, depreciation, etc. The monthly

amounts for these income types are based on the salary or

other income received from the business by the owner of

the business or farm during the 4-month period. Earnings

from all jobs and self-employment are included.

The Bureau of Labor Statistics (BLS) publishes quarterly

averages for an earnings concept called ‘‘usual weekly

earnings’’ for employed, full-time wage, and salary workers. The concept differs from the SIPP’s earnings concept

since it is based on usual, not actual, earnings; BLS

excludes the self-employed and earnings from secondary

jobs.

While the income amounts from most sources are

recorded monthly for the 4-month reference period, property income amounts, such as interest, dividends, and

rental income, were recorded as totals for the 4-month

period.

Median income. The median household income is the

amount which divides households into two equal groups,

one having incomes above that amount and the other having incomes below that amount.

Net worth. The household net worth estimates shown in

this report are based on the sum of the market value of

assets owned by every member of the household minus

liabilities (secured or unsecured) owed by household

members. The estimates represent the net worth of households at the end of the appropriate reference period. The

net worth concept is based on the value of all assets

minus all liabilities listed in Table A-2. The major assets

not covered in this report are equities in pension plans,

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

home furnishings and jewelry. These items are not covered because it is particularly difficult to obtain reliable

estimates of the value of these assets in a household survey.

Median net worth. The median net worth is the amount

which divides households into two equal groups, one having net worth less than that amount and the other having

net worth above that amount.

Average net worth. The average net worth is the average obtained by dividing the total net worth of a group by

the number of households in that group.

Comparison of average and median values of net

worth. Average and median values are measures of central tendency of distributions. For symmetric distributions,

the average and median values are the same. For skewed

distributions, however, the average and median values differ. The distribution of net worth is skewed with a concentration of households with low values and very few households with high values. In this case, the median is less

than average net worth; the large proportion of values at

the low end bring the median down, while less frequent

but large values increase the average. Since averages are

more sensitive to extremely high values and the data are

sparse at the upper end of the distribution, medians are

used in the analysis in this report.

With a job. People are classified as ‘‘with a job’’ during

the period if, during the 4-month reference period, they

either (1) worked as paid employees or worked in their

own business or profession or on their own farm or

worked without pay in a family business or farm or (2)

were temporarily absent from work either with or without

pay. In general, the word ‘‘job’’ implies an arrangement for

regular work for pay where payment is in cash wages or

salaries, at piece rates, in tips, by commission, or in kind

(e.g., meals, living quarters, and supplies received). In this

report ‘‘job’’ also includes self-employment at a business,

professional practice, or farm. A business is defined as an

activity that involves the use of machinery or equipment

in which money has been invested, an activity requiring

an office or ‘‘place of business,’’ or an activity that requires

advertising. Payment may be in the form of profits or fees.

The Current Population Survey (CPS), the official source

of labor force statistics for the country, uses the same

definition for a job or business. The term ‘‘with a job,’’

however, should not be confused with the term

‘‘employed’’ as used in the CPS. In the SIPP, ‘‘with a job’’

includes those who were temporarily absent from a job

because of layoff and those waiting to begin a new job in

30 days; in the CPS, these people are not considered

employed, but are classified as ‘‘unemployed.’’

Looking for work. People who ‘‘looked for work’’ during

the period are those who (1) were without a job during at

least 1 week during the 4-month reference period, (2) tried

to get work or establish a business or profession, and (3)

were available to accept a job. Examples of job-seeking

activities are: (a) registering at a public or private employment office, (b) meeting with prospective employers, (c)

investigating possibilities for starting a professional practice or opening a business, (d) placing or answering advertisements, (e) writing letters of application, (f) being on a

professional register, and (g) asking friends or relatives.

Layoff. In general, the word ‘‘layoff’’ means release from a

job because of slack work, material shortages, inventory

taking, plant remodeling, installation of machinery, or

other similar reasons; the released workers anticipate

recall at some future date, either specified or not. For this

survey, people were also on ‘‘layoff’’ who did not have a

job but responded that they had spent at least 1 week on

layoff from a job and that they were available to accept a

job. In addition, people were on ‘‘layoff’’ during the

4-month reference period if they were ‘‘with a job’’ but

‘‘absent without pay’’ from that job for at least 1 full week

during that period, and they responded that their main

reason for being absent from their job or business was

A-2 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
‘‘layoff.’’ In this report, the figures for people ‘‘on layoff’’

also include a small number of people who responded that

they were waiting to report to a new wage and salary job

that was to begin within 30 days.

With labor force activity. The term ‘‘with labor force

activity’’ as used in this report includes all people with a

job (as defined above) and those looking for work or on

layoff from a job for at least 1 week during the 4-month

reference period. Conversely, those people ‘‘with no labor

force activity’’ had no job, were not on layoff from a job,

and made no effort to find a job during the entire 4-month

reference period.

Comparability of the SIPP and the Current Population Survey (CPS) labor force data. The SIPP and CPS

labor force estimates differ not only because of the differences in labor force definitions discussed previously, but

also because of differences in procedures and designs of

the two surveys. For example: (1) The SIPP data relate to

an entire 4-month reference period, but the CPS estimates

relate to the week containing the 12th day of the month;

(2) the recall period for the SIPP extends up to 4 months,

but is only 1 week for the CPS; (3) the labor force questions for the SIPP are not as extensive and probing as

those for the CPS; and (4) the classification scheme for the

CPS gives priority to ‘‘employment’’ before ‘‘unemployment’’ and ‘‘unemployment’’ before ‘‘not in the labor

force,’’ whereas a person may be in each of these statuses

during a single reference period for the SIPP .

Because of these procedural and design differences,

estimates derived from the CPS and the SIPP vary. It is

therefore inappropriate to compare ‘‘employed’’ in the CPS

with ‘‘having a job’’ in the SIPP, or compare ‘‘unemployed’’

in the CPS with ‘‘looking for work or on layoff’’ in the SIPP.

Moreover, it should be noted that the SIPP is primarily an

income survey, and the CPS is primarily a labor force survey.

Table A-1. Income Sources Included in Monthly

Cash Income

Earnings From Employment

Wages and salary

Nonfarm self-employment income

Farm self-employment income

Income From Assets (Property Income)

Regular/passbook savings accounts in a bank, savings

and loan, or credit union

Money market deposit accounts

Certificate of deposit

NOW, Super NOW, or other interest-earning

checking accounts

Money market funds

U.S. Government securities

Municipal or corporate bonds

Other interest-earning assets

Stocks or mutual fund shares

Rental property

Mortgages

Royalties

Other financial investments

Other Income Sources

Social Security

U.S. Government Railroad Retirement

Federal Supplemental Security

State Administered Supplemental Security Income

State unemployment compensation

Supplemental Unemployment Benefits

Black lung payments

Table A-1. Income Sources Included in Monthly

Cash Income—Con.

Other Income Sources—Con.

Worker’s compensation

State temporary sickness or disability benefits

Employer or union temporary sickness policy

Payments from a sickness, accident, or disability

insurance policy purchased by individual

Aid to Families with Dependent Children (AFDC),

(ADC)

General assistance or General relief

Indian, Cuban, or Refugee assistance

Foster child care payments

Other welfare

Child support payments

Alimony payments

Pensions from a company or union

Federal Civil Service or other Federal civilian

employee pensions

U.S. Military retirement

National Guard or Reserve Forces retirement

State government pensions

Local government pensions

Income from paid-up life insurance policies or annuities

Estates and trusts

Other payments for retirement, disability or

survivors, and G.I. Bill/VEAP education benefits

Income assistance from a charitable group

Other unemployment compensation (e.g., Trade

Adjustment Act benefits, strike pay, other)

Veterans’ compensation or pensions

Money from relatives or friends

Household Net Worth and Asset Ownership: 1995 A-3

U.S. Census Bureau
Table A-1. Income Sources Included in Monthly

Cash Income—Con.

Other Income Sources—Con.

Lump sum payments

Income from roomers or boarders

National Guard or Reserve pay

Incidental or casual earnings

Other cash income not included elsewhere

Table A-2. Assets and Liabilities Included in

Net Worth

I. Assets

Interest-earning assets held at financial institutions

Passbook savings account

Money market deposit accounts

Certificate of deposit

Interest-earning checking accounts

Other interest-earning assets

Money market funds

U.S. Government securities

Municipal or corporate bonds

Other interest-earning assets

Stocks and mutual fund shares

Rental property

Mortgages held for sale of real estate

Amount due from sale of business or property

Regular checking accounts

U.S. Savings Bonds

Home ownership

Vacation homes and other real estate

IRA and Keogh accounts

Table A-2. Assets and Liabilities Included in

Net Worth—Con.

I. Assets—Con.

Equity in business or profession

Motor vehicles

Other financial assets

II. Liabilities

A. Secured liabilities

Margin and broker accounts

Mortgages on own home

Mortgages on rental property

Mortgages on other homes or real estate

Debt on business or profession

Vehicle loans

B. Unsecured liabilities

Credit card and store bills

Doctor, dentist, hospital, and nursing home bills

Loans from individuals

Loans from financial institutions

Educational loans

Other unsecured liabilities

A-4 Household Net Worth and Asset Ownership: 1995

U.S. Census Bureau
Appendix B.

Description of Changes in Median Estimation From

Previous Reports

This report uses a different estimation technique for the

median than earlier SIPP reports on household wealth and

asset ownership. This report uses a ‘‘traditional’’ median

estimation procedure that lines up all the values from lowest to highest; the value corresponding to the 50th percentile then becomes the median (respondents tend to

round off responses to the nearest hundred and/or thousand and this tendency is reflected in the median values

throughout the report). In past reports, an interpolation

formula was used on grouped data for median estimation

(see Appendix C in the Household Wealth and Asset Ownership: 1991 report (P70-34) available at the following

Webaddress: www.sipp.census.gov/sipp/pubsmain.htm.

The median interpolation value and its standard error can

vary widely depending on the intervals chosen for use in

the formula. The ‘‘traditional’’ median estimation does not

rely on interpolation within grouped data and is easily replicated. Furthermore, the standard error estimate for the

‘‘traditional’’ median estimate produces much smaller standard errors that are both robust and efficient (see Rousseeuw, Peter J. and Christopher Croux, 1993, ‘‘Alternatives

to Median Absolute Deviation,’’ Journal of the American

Statistical Association. 88:1273-83). When comparing the

data from past reports with data from this report, the standard error of each estimate must be pooled to test for statistically significant differences between the estimates (see

the Source and Accuracy Statement for the 1992 SIPP

Panel for details, www.sipp.census.gov/sipp/

methmain.htm).

Household Net Worth and Asset Ownership: 1995 B-1

U.S. Census Bureau