How much wealth does the American middle class have?
Data updated December 8, 2024
Around $12.5 trillion, or around 8% of all household wealth in the US in Q2 2024. Wealth, also referred to as net worth, is the total value of what people own minus debt like credit card balances and mortgages. If this wealth was divided equally among all middle-class households, each would have roughly $472,000 in wealth.
There's more than one way to define “middle class,” but one common method is to divide all American households into five equal-sized groups, called quintiles, based on income. The middle class consists of households in the middle group—those earning more than the bottom 40% but less than the top 40%. In 2022, these households earned between $58,000 and $96,000 per year.
$472K
in wealth owned by the average middle class household (Q2 2024)
8%
of all household wealth is owned by households in the middle class (Q2 2024)
The wealth of the American middle class has fluctuated over the past several decades, growing steadily from the late 90s to the mid 2000s before declining after the 2008 financial crisis. Around 2012, middle class wealth began to recover, reaching a peak of $499K in 2022 -- a 60% increase from the 2012 low of $313K.
The average middle class household owned $472K in wealth in Q2 2024
Average household wealth, adjusted for inflation (Q2 2024).
Total wealth in America varies greatly depending on income, and most wealth in the US is concentrated in a small number of very wealthy households: on average, households in the top 1% of earners have about $27 million in wealth, while middle class households have $472,000—less than 2% of that held by the top 1%. This disparity is partly because the top 1% have more wealth overall, but also because there are far fewer households in this group compared to the middle class—1.3 million households versus 27 million.
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The wealth of the top 1% is often highlighted separately because it far exceeds that of every other group, even the rest of the top quintile.
Households in the Top 1% of earners have $25M+ more in wealth than those in the middle class
Average household wealth by income bracket in Q2 2024.
Wealth is calculated by taking the value of assets people own and subtracting their debts. Assets include real estate, retirement accounts, businesses, and other financial investments. Household assets vary greatly across income groups; much middle-class wealth is tied up in real estate and retirement savings, while higher-income households often hold more in business equity and financial investments.
Middle class assets are primarily in real estate and retirement accounts
Average household assets by income bracket, adjusted for inflation, Q2 2024.
The same is true of debt, the second half of the wealth equation. Many households carry some level of debt, and as with assets, the type and amount varies by income group. Lower-income households tend to carry more of their debt in consumer credit, such as credit card balances. Higher-income households typically have a higher proportion of mortgage debt.
Lower income household debts are more concentrated in consumer credit.
Average household assets by income bracket, adjusted for inflation, Q2 2024.
Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
Federal Reserve System
Enhanced Financial Accounts: Distributional Financial Accounts