What Is Household Net Worth
Household net worth is the total value of assets minus liabilities for a family or single-person household. Assets include home equity, retirement accounts, savings, and investments, while liabilities cover mortgages, student loans, credit card debt, and other obligations. It is a common measure of financial health used by economists and policymakers.
Average and Median Net Worth in 2017
In 2017, the average household net worth in the United States was approximately 692,100 dollars, according to the Federal Reserve's Survey of Consumer Finances. The median net worth was much lower, at roughly 97,300 dollars, reflecting the skewed distribution of wealth. The median is often considered a better indicator of typical household financial position because it is less affected by extremely wealthy families.
Distribution and Key Takeaways
Wealth was concentrated among higher-income and older households in 2017. Families in the top tenth of the distribution held a large share of total net worth, while many middle-income households had modest balances or even negative net worth due to debt. For more detailed tables and methodology, see the Federal Reserve's official release at https://www.federalreserve.gov/econres/scf.htm.
