Hispanic wealth could triple by 2025, St. Louis Fed study finds
Hispanics in the U.S. could see wealth triple by 2025 if trends from the past two decades hold, a St. Louis Federal Reserve study released today finds.
"Hispanic families will own between $2.5 trillion and $4.4 trillion of wealth in 2025" adjusted for inflation, researchers William Emmons and Bryan Noeth wrote, leaving them with between 2.6 and 3.2 percent of the U.S. total. That's up from $1.4 trillion in 2010 that made up of 2.2 percent.
"The majority of the gain will be due to faster population growth, but a small increase may occur due to faster growth of average household wealth," they wrote in the June issue of the regional central bank's 'In the Balance' report.
Most Hispanic families would remain less wealthy than white and Asian families, and the group's wealth share would remain far below its population share. In 2010, about 16.3 percent of the U.S. population was Hispanic.
The wealth of the median Hispanic family will rise faster than that of the overall population, the researchers wrote, because the group saw an "extraordinary 39 percent decline in median wealth" between 2007 and 2010.