"Researchers conducted phone interviews about the financial status of households in Boston, Los Angeles, Miami, Tulsa, and Washington, D.C. The survey asked respondents about their assets, liabilities, financial resources, personal savings, and investment activities.
The cities were selected because their diversity allowed researchers to disaggregate data among subgroups within broader racial categories. In Boston, the report said researchers focused on “multigenerational African Americans (referred here as US blacks), Caribbean blacks (including Haitians), Cape Verdeans (both black and white), Puerto Ricans, and Dominicans.” A total of 403 people were surveyed.
The household median net worth was $247,500 for whites; $8 for US blacks (the lowest of all five cities); $12,000 for Caribbean blacks; $3,020 for Puerto Ricans; and $0 for Dominicans (that’s not a typo either.) The sample size for Cape Verdeans was too small to calculate net worth, the report said."
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