A look at how Latino wealth varies by state

A new report examining Latino wealth in six U.S. states shows that New York — where Puerto Ricans and Dominicans make up the largest Latino ethnic groups — has the highest wealth disparities between Latino and white households. The Brookings Metro report shows that white households in New York hold 40 times the wealth of Latino households. “The regional differences between Latino wealth, assets, and debt highlight how Latinos are not monolithic,” write the report’s authors Tonantzin Carmona, a Brookings Metro fellow, and Noreen M. Surge, of the Latino Policy Forum. Why all Latino wealth is not equal “Public narratives about Latinos’ economic condition place far too much emphasis on individual behaviors of the group, rather than structural factors such as discrimination.” The report highlights Latino wealth, assets and debt across Illinois, California, Texas, Florida and New York — geographic areas where Latinos have traditionally lived for generations and continue to see their population increase, according to Brookings. Other key findings: Aside from New York, the Latino-white wealth gap is more pronounced in California, with white households holding about nine times the median wealth of a typical Latino family.