When people ask what is the average persons networth, they usually want a benchmark to compare with their own situation. The most reliable US source is the Federal Reserve’s Survey of Consumer Finances, which is carried out every three years. This guide gives the latest figures I can cite, explains the difference between median and average and shows how age changes the picture.
The headline numbers
In the 2022 survey, which was published in 2023, the median US household had a net worth of about $192,900, and the mean, or average, was about $1,063,700. The gap is huge because a small number of very wealthy households pull the average up. The median is the middle household when everyone is lined up from poorest to richest, so it is a better guide to what is typical.
Median net worth by age
| Age of household head | Median net worth (approx., 2022) |
|---|---|
| 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 over | $335,600 |
The pattern is clear: net worth grows through the working years, peaks around retirement and then falls as people spend their savings.
What is the average persons networth when you leave out the home?
For many households, a home is the biggest asset. Without it, median wealth is much lower. That is why renters and owners differ so sharply, and why housing costs matter so much to wealth building. Retirement accounts are the next largest piece for many families.
Why the numbers differ from other sources
- Some studies use individuals, others households.
- Some include home equity and retirement accounts; others do not.
- Surveys from different years reflect market changes. Net worth rose between 2019 and 2022 because of house prices and stock markets.
Differences by group
The Federal Reserve data show large gaps by race, education and homeownership, and these gaps have persisted for decades. A household with a college degree typically has much higher net worth than one without, and homeowners hold several times more than renters. These figures describe patterns rather than individual outcomes.
How to use the benchmark
- Work out your own net worth using our guide on how to calculate your networth.
- Compare it with the median for your age, not the average.
- Look at direction as much as the level; growth over time matters.
- Do not feel discouraged by averages; they hide huge differences.
Outside the United States
Other countries publish their own data. Credit Suisse and UBS compile global wealth reports with median wealth per adult, which differs hugely between countries. The US has a high average but also high inequality. When comparing countries, check whether the figure is per adult or per household.
Where to go from here
If your net worth is above the median, that is a good sign, and if you are in the top tier you may want to read our guide on the top 10 percent threshold. For context on what net worth is used for, see what networth is used for.
Quick questions readers ask
Is the average the same as typical? No, use the median. Does it include home equity? Yes in these figures. When is the next survey? The Federal Reserve runs it every three years.
The conclusion
So what is the average persons networth? About $193,000 at the median and over $1 million at the mean for US households in 2022, with big differences by age. Use these as a rough guide, not a judgement.
Figures are approximate and based on Federal Reserve data. This is general information, not financial advice.
Featured image: "Now I have Something" – Nigeria (25587519378).png by USAID in Africa, Public domain, via Wikimedia Commons.
