Average American networth by age rises through working life and peaks in the early retirement years, according to the Federal Reserve’s 2022 Survey of Consumer Finances. Roughly speaking, the median household headed by someone under 35 had about $39,000, and by ages 65 to 74 it was about $409,900. The details are below.
One quick note on wording: the survey reports both medians and means, and they tell very different stories. We’ll cover both.
The numbers at a glance
| Age of household head | Median net worth (roughly) |
|---|---|
| Under 35 | $39,000 |
| 35 to 44 | $135,600 |
| 45 to 54 | $247,200 |
| 55 to 64 | $364,500 |
| 65 to 74 | $409,900 |
| 75 and older | $335,600 |
For all households, the 2022 survey put the median at about $192,900 and the mean at about $1.06 million. The survey was published in October 2023, and you can find the full data on the Federal Reserve’s SCF page.
Median or average?
The median is the middle household: half have less, half have more. The mean is the arithmetic average, and a handful of extremely wealthy households pull it far above the median. That’s why the mean for all households is several times the median. When someone asks about the average American networth by age, the median is usually the more realistic benchmark for a typical family.
Why the curve looks this way
Under 35
Young adults are often paying student loans, renting, and just starting retirement saving. Net worth can be low or even negative.
35 to 54
Home equity grows as mortgages are paid down and prices rise, and retirement accounts build up. This is also when child costs and mortgage payments are heaviest, so progress can feel slow.
55 to 74
Peak saving years, with children often independent and mortgages shrinking. Many households reach their highest net worth here.
75 and older
Median net worth dips as people spend down savings, and some downsize or pay for care. Gifts and inheritances can also reduce the figure.
What counts as net worth
- Assets: home value, retirement accounts, savings, investments, vehicles, business equity.
- Liabilities: mortgage, auto and student loans, credit card debt.
- Not counted by default: expected Social Security benefits, which are an income stream and not an owned asset.
Using the data for yourself
Here is a sensible way to use these benchmarks without letting them stress you out.
- Calculate your own number: add what you own, subtract what you owe.
- Compare it with the median for your age group, bearing in mind that homeownership strongly affects the result.
- Don’t panic if you’re below. Many factors, such as local housing costs, career breaks or caring for relatives, explain a lower figure.
- Focus on the trend. A rising net worth over a few years matters more than one snapshot.
Why comparisons can mislead
Averages hide a lot. Renters and owners differ massively, since home equity is the largest asset for many middle-class families. Race, education, region and family structure all show wide gaps in the survey. A single median is a starting point only. It also reflects 2022 conditions, and asset prices and interest rates have moved since then.
Average American networth by age: key points
To pull it together, the typical American household’s net worth grows for decades, plateaus around retirement and then slowly declines. The medians above are the best publicly available yardstick, and they’re rounded. Your plan should rest on your own goals, not on what the median household has.
Common questions
Does my home count?
Yes. The equity in your home, meaning its value minus the mortgage, is part of net worth, and for many households it is the largest asset. Some people prefer to also look at a figure that excludes home equity to see how much is in liquid savings and investments.
Should retirement accounts be included?
Yes, the survey includes them. Remember that pre-tax balances, such as a traditional 401(k), will be taxed when withdrawn, so the spendable amount is somewhat lower.
What if my net worth is negative?
It’s more common than people think, especially for young adults with student debt. The useful step is to track it every few months and watch the direction.
This is general information, not financial advice.
Related reading
- Who Has the Most Networth in the World? Understanding the Rankings
- What Is Hailey Welch Networth? The Viral Fame Money Story
Photo: Various artists and engravers at the US Bureau of Engraving and Printing, Public domain, via Wikimedia Commons
