What Is Net Worth
Net worth is the value of everything a family owns minus what it owes. For US families, it includes home equity, savings, investments, and retirement accounts, minus mortgages, credit card debt, and student loans. It is a common measure of household financial health.
Median and Average US Family Net Worth
According to the Federal Reserve, the median US family net worth was about $192,900 in 2022, while the average was higher at roughly $1.06 million. The large gap shows that a small share of households hold a big share of total wealth. Federal Reserve Survey of Consumer Finances.
Key Factors That Shape Family Wealth
Homeownership, retirement account balances, and education are major drivers of US family net worth. Families with higher incomes and older heads of household tend to have larger balances. Stock market gains and rising home values can increase net worth quickly, while job loss or high debt can reduce it.
