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  4. Changes in U.S. Family Finances from 2019 to 2022

Changes in U.S. Family Finances from 2019 to 2022

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Figure 1. Change in median and mean family incomes, 2016–22 surveys

Percent

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Years Median Mean
2016–19 5 -3
2019–22 3 15

Note: Income is measured for the calendar year prior to the survey. Changes are based on inflation-adjusted dollars.

Source: Here and in subsequent figures and tables, Federal Reserve Board, Survey of Consumer Finances.

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Figure 2. Change in median and mean family net worth, 2016–22 surveys

Percent

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Years Median Mean
2016-19 18 2
2019-22 37 23

Note: Changes are based on inflation-adjusted dollars.

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Figure A. Participation in any retirement plan, by usual income group, 2016–22 surveys

Percent

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Percentile of usual income 2016 2019 2022
All 67 65 68
0–49.9 41 38 41
50–89.9 83 81 84
90–100 95 93 96

Note: Key identifies bars in order from left to right.

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Figure A. Families with direct and indirect holdings of stock, by usual income group, 2013–2022 surveys

Percent

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Percentile of usual income 2013 2016 2019 2022
All 49 52 53 58
0–49.9 25 28 31 34
50–89.9 68 71 70 78
90–100 92 94 92 95

Note: Key identifies bars in order from left to right.

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Figure A. Net housing values, 1998–2022 surveys

Thousands of 2022 dollars

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  1998 2001 2004 2007 2010 2013 2016 2019 2022
Mean 160,608 201,444 252,683 281,645 209,664 202,836 243,639 263,010 335,315
Median 103,930 117,184 135,130 150,255 102,434 101,827 123,337 139,105 200,000
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Figure B. Median net housing values, by usual income group, 1998–2022 surveys

Index, 2007 = 1

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Percentile of usual income 1998 2001 2004 2007 2010 2013 2016 2019 2022
0–49.9 0.80 0.79 0.82 1.00 0.72 0.67 0.75 0.90 1.14
50–89.9 0.62 0.74 0.90 1.00 0.62 0.64 0.79 0.86 1.32
90–100 0.44 0.57 0.84 1.00 0.77 0.65 0.88 0.82 1.20
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Figure C. Housing affordability, 1998–2022 surveys

Ratio of median housing value to median income

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Year Ratio
1998 2.90
2001 3.07
2004 3.68
2007 4.23
2010 3.67
2013 3.63
2016 3.51
2019 3.81
2022 4.59
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Figure A. Families that owned businesses, by usual income group, 2013–22 surveys

Percent

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Percentile of usual income 2013 2016 2019 2022
All 15 18 18 20
0–49.9 8 10 11 14
50–89.9 18 20 22 21
90–100 39 44 43 47
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Figure A. Distribution of student debt across usual income quintiles, 2004–22 surveys

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Quintile of usual income 2004 2007 2010 2013 2016 2019 2022
Less than 20 13 12 11 14 11 9 9
20–39.9 18 10 11 13 16 16 12
40–59.9 19 19 24 18 20 21 20
60–79.9 24 30 25 28 25 26 27
80–100 26 29 29 28 28 28 32

Note: Key identifies usual income quintiles in the order that they appear on the figure, with the lowest quintile on the bottom and the highest quintile on the top.

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Last Update: November 08, 2023