That's according to data collected in 2022 and published in 2023 by the Federal Reserve. This is the most recent data available.
Unsurprisingly, older Americans tend to have higher net worths -- also known simply as "wealth" -- than younger Americans. Those with a college degree also have significantly higher net worths than those without one.
Net worth is also heavily stratified by race. The average net worth of white Americans is roughly six times higher than the median net worth of Black Americans and nearly five times higher than that of Hispanic Americans.
Net worth is the value of assets you control minus your liabilities. The former includes anything that can be turned into cash, such as your house, other real estate, car, investments, and bank accounts. The latter includes outstanding obligations, such as loans, mortgages, and credit card debt.
Understanding your wealth and how it compares to the average net worth can provide a clearer picture of your financial well-being and identify areas that may benefit from improvement. It can also be a big help when you're figuring out how much money you need to retire.
Key findings
- The median net worth of Americans in 2022 was $192,700.
- In 2022, the median net worth of Americans younger than 35 was $39,040. The median net worth of Americans between 65 and 74 was about 11 times higher at $410,000.
- In 2022, the median net worth of Americans with a college degree was $464,400. The median net worth of Americans with a high school diploma was $107,000.
- In 2022, the median net worth of white Americans was $284,310. The median net worth of Black Americans was $44,100, and the median net worth of Hispanic Americans was $62,120. Asian families -- which the Federal Reserve reported on for the first time -- had the highest median net worth at $535,400.
Average net worth: $192,700
The median net worth of Americans in 2022 was $192,700, according to the Federal Reserve.
That's a $51,555 increase from 2019, roughly a 37% jump, and the largest recorded since the Fed began collecting this data in 1989. (Data is in 2022 dollars.)