Spatial Wealth Inequality in the United States: Theory and Evidence

Tom Kemeny, Dylan Shane Connor, Joel Suss, Siqiao Xie, Jiwon Jang and Zhining Gu

No r4sg9_v1, SocArXiv from Center for Open Science

Abstract: Despite extensive research on spatial inequality, the geography of wealth remains understudied. We develop a theoretical framework explaining why wealth's spatial distribution differs from income's and how local advantages create self-reinforcing dynamics. Using novel data tracking household net worth across 722 U.S. commuting zones from 1960-2020, we establish five stylized facts. Wealth is 60-70% more spatially concentrated than income, with patterns distinct from income and housing values. Post-1980 increases in between-place inequality reflect places changing positions rather than divergence. Within places, bottom 50% wealth shares declined nationwide. These patterns reveal feedback mechanisms compounding spatial advantages, highlighting welfare disparities exceeding income-focused research.

Date: 2026-02-18
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:r4sg9_v1

DOI: 10.31219/osf.io/r4sg9_v1

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