Attachment H - SIPP 2018 Wealth Brochure

Attachment H
SIPP

Why Measure Wealth and Asset
Ownership?
Wealth (total assets minus total debt) is an
important indicator of economic well being.
Income alone does not provide a complete
picture of the resources people have for
coping with unforeseen events such as
losing a job or an unexpected illness. We
measure wealth and asset ownership to
understand the economic health of
households in the United States.
In order to better understand the
characteristics of the population, including
economic well-being, we conduct surveys
such as the Survey of Income and Program
Participation (SIPP) to produce that
information.
Because our country is so populous (over
300 million people), we only survey a
scientific sample of the whole population.
Thus, your answers to this survey represent
thousands of Americans!
Americans work hard everyday, achieving
triumphs and facing struggles. By studying
both our successes and setbacks, we can
help our nation make informed decisions.
By law, all personal information collected
for this study is kept strictly confidential.
Thank you for participating in this survey,
and for helping represent our nation’s most
important asset…
People Just Like You.

Wealth and Asset Ownership

Mission and Purpose
Data from the Survey of Income and
Program Participation (SIPP) are used to
evaluate changes in:
•
•
•

Income
Movement into and out of
government assistance programs
Effects of our changing family and
social situations for individuals
and households

For more information, visit SIPP online at:
www.census.gov/sipp

Wealth by Characteristics

Distribution of Wealth
SIPP measures how wealth varies across
the U.S Population. In 2013:
•
•
•

25 percent of households had
wealth of $3,990 or less.
The median (average) household
had wealth of $80,039.
25 percent of households had
wealth of $318,824 or greater.

$350,000

Distribution of Net Worth:
2013
$318,824

$300,000
$250,000

SIPP measures how wealth varies across
social and economic characteristics.

Composition of Wealth
SIPP also measures assets and their
composition of wealth for U.S. households.
In 2013:

•

Home equity (the value of one’s
home minus all debts against it)
was the largest share of wealth,
accounting for 32.2 percent of net
worth owned by households.

•

Retirement accounts (such as 401(k)
and IRA accounts) were the second
largest share of total net worth at

Using data from 2013, we found the
following:

Race: The median wealth of Non-Hispanic
White householders (the person who owns or
rents a home) is about 14 times that of Black
householders.
Health Insurance: The median wealth of
households in which all members had health
insurance for the entire year was about 11
times that of households in which anyone
went at least one month without health
insurance coverage.

26.8 percent.

Composition of Wealth, by Asset Type:
2013¹ (Percentage)
32.2

Equity in own home

Retirement accounts

$200,000
$150,000
$100,000

$80,039

$50,000

26.8

Stocks and mutual fund
shares

9.6

Assets at financial
institutions

9.4

Business Equity

5.2

Rental property

4.4

Other real estate

3.9

Motor vehicles

3.3

$3,990
$0
25th
Median
75th
Percentile
(Average)
Percentile
Source: U.S. Census Bureau, Survey of Income
and Program Participation, 2014 Panel

¹Excludes households in the top 1% of wealth. Some wealth
categories not shown.
Source: U.S. Census Bureau, Survey of Income and Program
Participation, 2014 Panel