Census data shows drop in household net worth
Monday, June 18, 2012 6:40 AM
The 12 states including Missouri in the U.S. Census Bureau's Midwest region recorded a 15.5 percent decrease in median household net worth 2005-10.
In 2010, the Midwest median net worth per household was $77,769, compared to $92,082 in 2005, according to the Census Bureau's Survey of Income and Program Participation released this morning.
Comparatively, the U.S. median household net worth declined 35 percent to $66,740 from $102,844 during the same time period.
“The overall decline in net worth reflects drops in housing values and stock market indices,” Census Bureau economist Alfred Gottschalck said in a news release.
The Census Bureau's Northeast region recorded the highest median household net worth in 2010 - $86,758 - but it declined from $106,888 in 2005. The West region, which ranked the highest in 2005 at $128,400, was the lowest in 2010 at $57,034. The Midwest ranked No. 2 in 2010 after ranking No. 3 in 2005.