by Latoya Peterson
Please note, this is part five of a multi-part series on the Lifting As We Climb: Women of Color and Wealth report released by the Insight Center for Community Economic Development. Please carefully read part one and review our comment moderation policy before participating in the comments.
Over the course of the Women of Color and Wealth series one question has come up time and time again – what about Asian women? Native women? Other, more specific breakdowns of different racial/ethnic groups? Is there data for queer women of color? For transgender women of color? Sadly, the answer is no.
The report includes a separate break out discussion of Asian and Native American women, saying (all emphasis mine):
Because Asian Americans and Native Americans comprise a much smaller proportion of the U.S. population than blacks and Hispanics and because most surveys that measure wealth do not oversample these groups, our knowledge about their wealth is less robust—particularly for Native Americans.
According to 2004 data from the Survey of Income and Program Participation, Asian Americans have a higher median net worth than white non-Hispanic households ($144,000 and $137,200, respectively). Much of this is due to their home equity, as the Asian population is concentrated in a few cities with very high home values. When data is adjusted for these and other factors, Asians have less wealth than whites on similar socioeconomic characteristics. In interpreting the high home equity of Asian Americans, it is also important to bear in mind that they are likely to own and occupy the home with extended family members and are more likely than whites to contribute more than half of their household income to housing costs.