(Bloomberg) -- Black and Hispanic families in Massachusetts have accumulated only a fraction of the wealth of White families, according to a long-awaited Federal Reserve Bank of Boston study that shows a vast racial divide persists more than a decade after an earlier study galvanized efforts to close it. Most Read from BloombergThe typical White household in the state has a median net worth of nearly $550,000, compared with just $7,800 for a Black family and $1,200 for a Hispanic family, according to the report released Wednesday. The assessed components of net wealth included bank accounts, stock and bond investments, primary residences, other real estate or equity holdings, life insurance, retirement and education savings, minus debts and loans. On the top end, a quarter of White families have an estimated net worth of $1.32 million or more, a figure that in part reflects rising home values in Massachusetts and a surging stock market. Boston's efforts to narrow the wealth gap — which included the creation of the Black Economic Council of Massachusetts and a high-profile commitment from former Boston Celtics star Jaylen Brown to build a "Black Wall Street" in the city — coincided with the national reckoning following George Floyd's death at the hands of Minneapolis police in 2020.