Indian Americans household income average Rs 87 lakh annually: Report

Washington, January 29

The household income of an Indian American family on an average is USD 120,000 (over Rs 87 lakhs) per annum, surpassing all ethnic groups and white Americans as well, according to a report.

The National Coalition for Asian Pacific American Community Development in its report said data show that some groups, like Indian households, are earning remarkably high incomes (USD 119,858), others, like Burmese households, are earning incomes (USD 45,348) comparable to those earned by Black (USD 41,511) and Latinx (USD 51,404) households.

This pattern of vastly different economic statistics across AAPI (Asian American and Pacific Islanders) subgroups is similar across a variety of indicators, including poverty rate, homeownership rates and rent burden, it said.

The median household income for Asians (USD 87,194)-which is 1.2 – 2 times higher than Black (USD 41,511), Latinx (USD 51,404) and White (USD 67,937) households-suggests that Asian households are doing quite well, the coalition said.

This pattern of vastly different economic statistics across AAPI subgroups is similar across a variety of indicators, including poverty rate, homeownership rates and rent burden, which when put together correlate with the fact of extreme economic inequality within the larger category of AAPI-an unfortunate reality that is too often overlooked, it said.

There is an estimated four million Indian-American population in the US. — PTI