Average Net Worth by Age for Americans for 2024


Average net worth by education

While higher education can be costly in the short term, the results are noticeable for Americans who obtain college degrees. At every additional stage of education, both average and median net worth increase for American households. One concern Americans have is taking on student loan debt, but picking the right major can help you pay off your debt while increasing your net worth.

Education Median net worth Average net worth
No high school diploma $20,500 $137,800
High school diploma $74,000 $305,200
Some college $88,800 $376,400
College degree $308,200 $1,519,900

The difference between college graduates and those who did not finish high school is stark: the median net worth for those with a college degree is over 11 times higher than the median net worth of those without a high school diploma.

Average net worth by family structure

The family structure statistics for net worth show a positive effect for couples, likely due to their ability to share expenses, savings and investments. Even couples who have to provide for dependents have a higher average net worth than single people with no children.

Family structure Median net worth Average net worth
Single (less than 55 years old), no child $15,700 $131,760
Single with child(ren) $36,710 $284,620
Single (55 years or older), no child $119,500 $444,900
Couple with child(ren) $166,300 $879,210
Couple, no child $251,700 $1,314,550

That said, the group with the highest average net worth is couples without children, who have an average net worth many times as large as that of single people without children.

Average net worth by housing status

Those who buy a house have a much higher average net worth, as the value of a house contributes significantly to a person’s net worth.

Housing status Median net worth Average net worth
Renter or other $6,300 $95,600
Homeowner $255,000 $1,102,100

Many people see buying a home as an investment, and these numbers show why. Being a homeowner makes a person’s net worth increase by over 1,000 percent.

Average net worth by race or ethnicity

The United States strives for equality, but the average net worth by race or ethnicity data shows that there is still a lot of work to do. The average net worth of white Americans is almost six times higher than that of Hispanic or Latino Americans and seven times higher than that of African Americans.

Race or ethnicity Median net worth Average net worth
White, non-Hispanic $188,200 $983,400
Black or African American, non-Hispanic $24,100 $142,500
Hispanic or Latino $36,200 $165,500
Other or multiple race $74,500 $657,200

Why your net worth matters

Your net worth is a good way to see how you’re doing financially in the present as well as how well you’re prepared for the future. An individual’s net worth includes savings and retirement funds, like a 401(k), as well as any investments like stocks or bonds that you own. When you have a higher net worth, you’ll be able to retire comfortably, and if you’re a parent, you’ll be more able to leave your children with some of your assets.

How is net worth calculated?

In short, your net worth is what you own minus what you owe. You’ll typically hear people say your assets (what you own) minus your liabilities (what you owe).

Assets include money in your bank accounts or investments, as well as the value of your property, like a home or a car. Your liabilities may include credit card balances, loans or a mortgage. You have a positive net worth if you have more assets than debts, and you have a negative net worth if your debts outnumber your assets.

Based on your net worth, you can also determine your social class, including whether you fall within the middle class.

How to increase your net worth

There are various ways to increase your net worth, like improving your financial literacy. Many Americans say they didn’t receive generational education about credit and other aspects of financial literacy, so learning about building credit, saving and investing can help set you up for success financially.

Here, we’ve broken down some other ways to increase your net worth by age group. There are different strategies that benefit individuals at different times in their lives, so we’ve included tailored tips by age below.

20 to 30 years old:

30 to 40 years old:

  • Manage your spending habits.
  • Continue working on your credit.
  • Plan for big events like marriage, children and buying a home.

40 to 50 years old:

  • Plan on buying a home if you didn’t in your 30s.
  • Beware of “lifestyle creep,” which is when you gradually spend more without realizing it.
  • Automate your savings and investing.

50 to 70 years old:

  • Begin more seriously preparing for retirement.

70 and older:

  • Once you’re retired, you can worry less about growing your net worth.
  • Set up a monthly schedule for withdrawing from your retirement fund for living expenses and enjoying your retirement.

What many people don’t realize is that poor credit can make improving a person’s net worth and overall financial health a lot more difficult. Bad credit costs you money that you could be saving or investing because you’re paying higher interest rates, fees and down payments. Sometimes, poor credit happens due to mistakes that you made when you were younger, but it can also be due to incorrect or unfair items on your credit report.

Whether you need help rebuilding your credit or challenging credit report errors, Lexington Law Firm is here for you. We can work with you to challenge inaccuracies, and we also offer other financial tools that may benefit you. To learn more about how we can help, get your free credit assessment today.


Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Reviewed By

Alexis Peacock

Supervising Attorney

Alexis Peacock was born in Santa Cruz, California and raised in Scottsdale, Arizona.

In 2013, she earned her Bachelor of Science in Criminal Justice and Criminology, graduating cum laude from Arizona State University. Ms. Peacock received her Juris Doctor from Arizona Summit Law School and graduated in 2016. Prior to joining Lexington Law Firm, Ms. Peacock worked in Criminal Defense as both a paralegal and practicing attorney. Ms. Peacock represented clients in criminal matters varying from minor traffic infractions to serious felony cases. Alexis is licensed to practice law in Arizona. She is located in the Phoenix office.

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