According to recent findings, Indian and Filipino Americans exhibit the lowest poverty rates among Asian groups, standing at 6% and 7%, respectively. However, over 2.3 million Asian Americans, comprising about one-tenth of the population, were living in poverty in 2022. Despite the common portrayal of Asian Americans as financially and educationally successful, approximately 10% of them are impoverished, as per an analysis by the Pew Research Center and US census bureau data.
Poverty rates vary significantly across different origin groups, with Burmese and Hmong Americans recording some of the highest poverty rates in 2022, reaching 19% and 17%, respectively. Notably, a third of Asian Americans living in poverty aged 25 and older hold a bachelor’s degree, surpassing the 14% rate among non-Asians in similar circumstances.
Nearly 60% of Asian Americans living in poverty are immigrants, with a significant portion lacking English proficiency. Moreover, about one million impoverished Asians reside in ten major US metropolitan areas, with cities like New York City, Los Angeles, and San Francisco harboring substantial populations. Despite this, Fresno, Buffalo, and Pittsburgh exhibit high poverty rates among Asian Americans.
Financial challenges are prevalent among Asian adults living in poverty, with 79% reporting such difficulties compared to 48% among those above the poverty line. Assistance-seeking behaviors vary, with a majority turning to family or friends and a significant proportion seeking aid from government entities.
Views on the attainability of the American dream vary among Asian Americans, with 47% of those in poverty perceiving it as unattainable. Nonetheless, homeownership is considered a key element of the American dream, although the homeownership rate is notably lower among Asian Americans living in poverty compared to those above the poverty line (40% vs. 71%).
The American dream is valued similarly among Asians in poverty and those above the poverty line, with emphasis placed on freedom of choice, family life, children’s opportunities, and retirement comfort.
