:max_bytes(150000):strip_icc()/GettyImages-1363872209-a5ec723c281747b380b15386db71cb58.jpg?w=1500&resize=1500,1001&ssl=1 "Here’s The Average Net Worth of Each Class: How Does Yours Compare? | Global News Avenue")
Here’s The Average Net Worth of Each Class: How Does Yours Compare?
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median net worth It ranges from a few thousand dollars for lower-class families to more than $7 million for upper-class families. Yet the vast majority of Americans fall somewhere between these numbers.
Knowing your net worth level can help you evaluate your own financial situation. But no matter where you fall, there’s a chance Increase your net worth and improve your overall personal financial health.
Main points
- The lower class has a median net worth of about $3,500, while the upper class has a median net worth of about $7.81 million.
- The median net worth of the middle class ranges from $93,300 to $1.04 million.
- Net worth is just one measure we can use to classify families as lower, middle, and upper class, and it’s a valuable tool for measuring your financial progress.
Average net worth by category
There are many different ways we can define the various financial categories in the United States. While we sometimes categorize them by income, we can also focus specifically on net worth. Of course, there is no formal definition of lower, middle, and upper class, but we can usually classify them according to certain percentiles.
lower class
According to 2022 Federal Reserve data (the latest available data as of release), the median net worth of households in the bottom 25% is $3,500. The average net worth of the same household is -$5,300.
Keep in mind that while there is often a correlation between net worth and income, this is not always the case.
For example, some people with lower net worth may have lower incomes. Others may have higher incomes but also higher debts.
middle class
family in middle class— which we define as those with net worth in the 25th to 90th percentiles — median net worth ranges from $93,300 to $1,036,200. Their average net worth ranges from $98,800 to $1,102,400. This is obviously a big range, but we can break it down by dividing this group into lower middle, middle, and upper middle. These ranges are as follows:
| Median net worth | average net worth | |
|---|---|---|
| lower middle class | $93,300 | $98,800 |
| middle class | $365,300 | $373,700 |
| upper middle class | $1,036,200 | $1,102,400 |
Upper class
The top 10% of U.S. households by net worth have a median net worth of $3,794,600 and an average net worth of $7,810,500.
notes
The average is much higher than the median for the class because the average is skewed by some extremely high net worth individuals.
bottom line
Net worth can be a useful way of defining lower, middle and upper class. Median net worth It ranges from a few thousand dollars to millions of dollars, but most Americans fall somewhere in between.
Remember, your net worth doesn’t reflect you as a person, but it can be a valuable tool for tracking your financial progress as you pay off debt and increase your income and investments.
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