Net worth statistics at a glance
Net worth moved higher across nearly every group in the Federal Reserve’s SCF 2019 to 2022 comparison, but the size of the gains varied sharply by income, age, education, race, and housing status.
The biggest headline is simple: real median net worth for all families rose from $141.1k in 2019 to $192.9k in 2022, a 37% increase (Federal Reserve SCF 2019-2022 report, Table 2).
That overall gain sits alongside a larger jump in the mean. Real mean net worth rose from $868.0k to $1,063.7k, up 23% (Federal Reserve SCF 2019-2022 report, Table 2). The gap between median and mean is a reminder that high-balance households still pull the average upward.
Fast facts
- The share of families with any asset edged up from 99.6% to 99.7% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share with any financial asset rose from 98.7% to 99.0% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share holding stocks climbed from 15.2% to 21.0% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share with retirement accounts rose from 50.5% to 54.3% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share of families with any debt increased from 76.6% to 77.4% (Federal Reserve SCF 2019-2022 report, Table 4).
- The median payment-to-income ratio for debtors fell from 18.2 in 2010 to 13.4 in 2022, the lowest level ever recorded in the SCF (Federal Reserve SCF 2019-2022 report, Table 5).
Table of contents
- What net worth statistics show overall
- Net worth by income group
- Net worth by age, education, and race
- Net worth by housing status and geography
- Assets, debt, and leverage statistics
- Retirement balance statistics
- What the numbers suggest
What net worth statistics show overall
The broad trend in the Federal Reserve SCF 2019-2022 report is not subtle: household balance sheets strengthened, and they did so in a way that lifted both middle-of-the-distribution families and the upper end.
A good way to read the headline is to compare the median and mean together. The median rose 37%, while the mean rose 23% (Federal Reserve SCF 2019-2022 report, Table 2). That means more typical households saw strong gains, while very large portfolios continued to keep the average high.
At the same time, the asset side became slightly more universal. The share of families with any asset went from 99.6% to 99.7%, and the share with any financial asset went from 98.7% to 99.0% (Federal Reserve SCF 2019-2022 report, Table 3). Those are small changes, but they matter because they show that ownership remained nearly universal even as balances shifted upward.
The debt side is more nuanced. More families had debt in 2022 than in 2019, but several burden measures moved down over a longer horizon. That mix suggests the question is not simply whether households owed money, but whether those obligations became more manageable relative to income.
Net worth by income group
Income remains one of the clearest dividing lines in the net worth statistics, but the 2019 to 2022 changes show gains across the full spectrum.
| Usual income group | Median net worth in 2019 | Median net worth in 2022 | Change | Mean net worth in 2019 | Mean net worth in 2022 | Change |
|---|---|---|---|---|---|---|
| Bottom quintile | $11.3k | $14.0k | +24% | $132.2k | $129.7k | -2% |
| 20th to 39.9th percentile | $51.1k | $71.0k | +39% | $157.6k | $218.7k | +39% |
| 40th to 59.9th percentile | $107.7k | $159.3k | +48% | $255.7k | $385.4k | +51% |
| 60th to 79.9th percentile | $230.8k | $307.2k | +33% | $490.3k | $636.8k | +30% |
| 80th to 89.9th percentile | $443.2k | $747.0k | +69% | $985.4k | $1,264.7k | +28% |
| Top decile | $1.8423m | $2.5562m | +39% | $5.6223m | $6.6296m | +18% |
The table highlights three useful patterns.
First, the middle groups posted broad-based gains. Families in the 40th to 59.9th percentile of usual income saw median net worth rise 48% and mean net worth rise 51% (Federal Reserve SCF 2019-2022 report, Table 2). Families in the 60th to 79.9th percentile also saw strong gains, with median net worth up 33% and mean net worth up 30% (Federal Reserve SCF 2019-2022 report, Table 2).
Second, the largest median jump among income brackets belongs to the 80th to 89.9th percentile, where median net worth surged from $443.2k to $747.0k, up 69% (Federal Reserve SCF 2019-2022 report, Table 2). That is an unusually large move for a group already well above the middle.
Third, the bottom quintile shows that median and mean can tell different stories. The median rose from $11.3k to $14.0k, but the mean slipped from $132.2k to $129.7k (Federal Reserve SCF 2019-2022 report, Table 2). For lower-income families, a small number of large balances can still shape the average even when the typical household improves.
Net worth by age, education, and race
Age is another strong predictor of balance sheet strength, and the 2022 results show a steep climb from younger families into late middle age.
Age groups
- Families younger than 35 saw median net worth rise from $16.1k to $39.0k, up 143% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families age 35 to 44 saw median net worth rise from $105.9k to $135.6k, up 28% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families age 45 to 54 saw median net worth rise from $195.4k to $247.2k, up 27% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families age 55 to 64 saw median net worth rise from $246.3k to $364.5k, up 48% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families age 65 to 74 saw median net worth rise from $308.8k to $409.9k, up 33% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families age 75 or older saw median net worth rise from $295.4k to $335.6k, up 14% (Federal Reserve SCF 2019-2022 report, Table 2).
The standout is the under-35 group. A rise from $16.1k to $39.0k means the youngest households more than doubled their median net worth, but they still remained far below older age groups (Federal Reserve SCF 2019-2022 report, Table 2). That kind of gap is exactly why age-adjusted comparisons are important.
Education also separates households meaningfully.
Education groups
- Families without a high school diploma saw median net worth rise from $23.7k to $38.1k, up 60% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families without a high school diploma saw mean net worth rise from $159.8k to $175.6k, up 10% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families with a high school diploma saw median net worth rise from $85.8k to $106.8k, up 24% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families with some college saw mean net worth rise from $436.4k to $541.1k, up 24% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families with a college degree saw median net worth rise from $357.3k to $464.6k, up 30% (Federal Reserve SCF 2019-2022 report, Table 2).
Education data often gets summarized as a ladder, and the numbers fit that idea. But the mix of median and mean values shows there is more than one pathway through the distribution. A group can have a higher median without having an equally dramatic change in mean, and vice versa.
Race and ethnicity data in Table 2 show similar directional gains, but not equal starting points.
Race and ethnicity groups
- White non-Hispanic families saw median net worth rise from $218.1k to $285.0k, up 31% (Federal Reserve SCF 2019-2022 report, Table 2).
- Black non-Hispanic families saw median net worth rise from $28.0k to $44.9k, up 60% (Federal Reserve SCF 2019-2022 report, Table 2).
- Black non-Hispanic families saw mean net worth rise from $165.1k to $211.5k, up 28% (Federal Reserve SCF 2019-2022 report, Table 2).
- Hispanic or Latino families saw median net worth rise from $41.9k to $61.6k, up 47% (Federal Reserve SCF 2019-2022 report, Table 2).
- Other or multiple-race families saw median net worth rise from $86.4k to $132.9k, up 54% (Federal Reserve SCF 2019-2022 report, Table 2).
- Asian families had mean net worth of $1.8269m in 2022 (Federal Reserve SCF 2019-2022 report, Table 2).
The most notable feature is not just the percentage change, but the spread in levels. The median for Black non-Hispanic families rose 60%, yet it still remained well below the median for White non-Hispanic families in 2022 (Federal Reserve SCF 2019-2022 report, Table 2). The same basic idea shows up across Hispanic or Latino and other race categories as well.
Net worth by housing status and geography
Housing tenure remains one of the most powerful separators in the dataset.
Families that rent or otherwise do not own a home saw median net worth rise from $7.3k to $10.4k, up 43% (Federal Reserve SCF 2019-2022 report, Table 2). Their mean net worth rose from $110.8k to $154.9k, up 40% (Federal Reserve SCF 2019-2022 report, Table 2).
Homeowners were far higher on both measures. Their median net worth rose from $295.5k to $396.2k, up 34%, and their mean net worth rose from $1.2775m to $1.5309m, up 20% (Federal Reserve SCF 2019-2022 report, Table 2).
That contrast matters because homeownership is not just a housing category; it is a balance sheet category. A homeowner median of $396.2k versus a renter median of $10.4k shows why housing status so often predicts net worth outcomes (Federal Reserve SCF 2019-2022 report, Table 2).
Geography adds another layer.
- Families in MSAs saw median net worth rise from $146.0k to $199.2k, up 36% (Federal Reserve SCF 2019-2022 report, Table 2).
- Families in non-MSAs saw mean net worth rise from $376.6k to $652.1k, up 73% (Federal Reserve SCF 2019-2022 report, Table 2).
The geographic comparison here is incomplete because the supplied statistics highlight different measures for each group, but even this partial view is informative. Rural or non-MSA families posted a large mean increase, while MSA families also saw a strong median gain. The different measures suggest the distribution may look different across place types, even when both are improving.
Assets, debt, and leverage statistics
Net worth is the result of two moving parts: assets and liabilities.
The asset data in Table 3 point to broad participation and a modest increase in investment ownership.
- The share of families with any asset rose from 99.6% to 99.7% (Federal Reserve SCF 2019-2022 report, Table 3).
- Conditional on holding at least one asset, median total asset holdings rose from $263.8k to $332.6k, up 26% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share with any financial asset rose from 98.7% to 99.0% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share holding transaction accounts rose from 98.2% to 98.6% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share holding stocks rose from 15.2% to 21.0% (Federal Reserve SCF 2019-2022 report, Table 3).
- The share holding retirement accounts rose from 50.5% to 54.3% (Federal Reserve SCF 2019-2022 report, Table 3).
The stock ownership jump is especially important. A rise from 15.2% to 21.0% means more families participated in equity markets in 2022 than in 2019, which helps explain part of the upward movement in mean and median balances (Federal Reserve SCF 2019-2022 report, Table 3).
Debt statistics are more mixed, but several measures improved on a long-run basis.
- The share of families with any debt rose from 76.6% to 77.4% (Federal Reserve SCF 2019-2022 report, Table 4).
- The share with debt secured by a primary residence rose slightly from 42.1% to 42.2% (Federal Reserve SCF 2019-2022 report, Table 4).
- The median amount of primary-residence debt declined from $156.3k to $155.6k, a 0% change (Federal Reserve SCF 2019-2022 report, Table 4).
- The share with credit card balances was 45.4% in 2019 and 45.2% in 2022 (Federal Reserve SCF 2019-2022 report, Table 4).
- The median credit card balance for families with such debt fell from $3.1k to $2.7k, down 14% (Federal Reserve SCF 2019-2022 report, Table 4).
Table 5 gives the clearest long-run debt stress picture.
| Debt and leverage measure | 2010 | 2022 | Direction |
|---|---|---|---|
| Aggregate leverage ratio | 16.4 | 10.7 | Down |
| Median leverage ratio for debtors | 41.3 | 29.2 | Down |
| Median debt-to-income ratio for debtors | 118.8 | 95.1 | Down |
| Median payment-to-income ratio for debtors | 18.2 | 13.4 | Down |
| Share of debtors above 40% payment-to-income | 10.4% | 6.5% | Down |
| Share of families reported late on payments | 17.3% | 12.2% | Down |
These numbers show a consistent story: leverage and payment strain eased over time (Federal Reserve SCF 2019-2022 report, Table 5). The most quotable figure is the median payment-to-income ratio, which reached 13.4 in 2022, the lowest level ever recorded in the SCF (Federal Reserve SCF 2019-2022 report, Table 5).
Retirement balance statistics
Retirement data add another useful layer because they focus on working families and participating households rather than the entire population.
- The mean retirement savings balance among working families with an IRA or DC plan rose from $293.1k in 2016 to $331.4k in 2022 (Federal Reserve SCF 2019-2022 report, Table A).
- The mean retirement savings balance for the top 10% of usual income rose from $803.1k in 2019 to $913.3k in 2022 among participating working families age 35 to 64 (Federal Reserve SCF 2019-2022 report, Table A).
Those are not small balances. They reinforce the broader pattern in the other tables: the upper end of the distribution still holds very large sums, even while many more ordinary households posted gains.
What the numbers suggest
The most useful way to read net worth statistics is to avoid a single headline and instead look for the pattern across measures.
A few patterns stand out from the supplied Federal Reserve tables:
- Median net worth rose faster than mean net worth for all families, which points to gains reaching well beyond the very top (Federal Reserve SCF 2019-2022 report, Table 2).
- Asset ownership remained nearly universal, while stock ownership and retirement-account ownership both increased (Federal Reserve SCF 2019-2022 report, Table 3).
- Debt became more common in a narrow sense, but key burden measures improved over the longer run, especially leverage and payment-to-income ratios (Federal Reserve SCF 2019-2022 report, Table 4 and Table 5).
- Age, education, race, income, and housing status still separate households sharply, even when the direction of change is positive across groups (Federal Reserve SCF 2019-2022 report, Table 2).
- The biggest proportional gains often show up in groups with lower starting balances, while the largest absolute balances remain concentrated among top-income, older, and homeowner households (Federal Reserve SCF 2019-2022 report, Table 2 and Table A).
For readers tracking net worth statistics as an SEO topic, the key takeaway is that the dataset is not just about one national average. It is a distribution story, and the distribution is where the most interesting movement happened.