Indian American community richest with median household income of $103,821

The median household income of four million Indian American households was $103,821 in 2015, compared to other households overall in the US which was $53,889, according to a new US Census Bureau report titled ‘Asian-American and Pacific Islander Heritage Month: May 2017’, brought out on the occasion of the Asian Pacific American Heritage Month (APAHM), which will be celebrated in May.

The numbers are not different from past numbers as for well over a decade and more, the Indian American community in the US has been the riches community overall. The numbers have been helped by an increase in skilled immigration with an increase in H-1B visas periodically.

In terms of the Asian income in the US, Bangladeshi households recorded $49,515 in 2015, with the overall Asian income at $76,260. Indian American community led in this section too.

When it comes to population, out of the 21 million Asians in the US, the Chinese (except Taiwanese) population was the largest Asian group, followed by Asian Indian (4 million), Filipino (3.9 million), Vietnamese (2 million), Korean (1.8 million) and Japanese (1.4 million).

In terms of business, Asians owned 1.9 million businesses in the US in 2012, with an increase of nearly 24 percent from 2007 till 2012. Indian American-owned firms had a steady growth of 20 percent during 2007-2012, with a total of 377,486 firms in the US, in 2012, compared to 308,491 in 2007, the Census Bureau report revealed.

Interestingly, from 2007 to 2012 while the number of Indian American firms grew by 22 percent, Caucasian American-owned firms witnessed a decline of five percent.