Infographic: The Average American Household's Finances: How Does Your Money Match Up?

Discover how your spending, saving, debt and more stack up against that of the average American.

The Average American Household's Finances:

How Does Your Money Match Up?

Money — it’s something that few people openly discuss. So you may be wondering how your family’s finances stack up against those of your neighbors in the rest of the nation. Let’s take a peek behind closed doors. . .

What's coming in?

The median, annual gross household income is $57,617.[1,9]


Family households are earning

$75,062

Non-family households are earning

$35,761*

What's going out?

Take a look at the cash you’re shelling out each month to fund your lifestyle. Here’s the breakdown of where your fellow Americans are spending their hard-earned money: [2]

Total Expenses
Housing
33%
Transportation
15.8%
Food
12.6%
Insurance & Pensions
11.9%
Healthcare
8%
Entertainment
5.1%
Misc.
4.5%
Cash Contributions
3.6%
Clothing
3.1%
Education
2.3%

Uncle Sam's cut

At tax time, the average Amercian household owes an estimated $16,436 in annual income-based taxes: [2,6]

  • Federal Income Tax $7,456
  • State & local income taxes $5,467
  • Social Security tax $2,596
  • Medicare tax $917

Ready for an emergency?

Most Americans' savings account could use a boost to protect them against unanticipated expenses:[5]

Bar chart

Got debt? You’re not alone.

On average, Americans have... [3]

Getting smarter about credit

The average American has 3.1 credit cards and a FICO credit score of 700 — the highest average score on record. [3, 4] And the average balance of a family with credit card debt has decreased over the last few years. [10]

 FICO credit scores chart - April 2017

Source: FICO Blog: “US Average FICO Score Hits 700: A Milestone for Consumers”

Get ready for retirement

Looking at retirement savings and pensions, 28% of non-retired adults have nothing saved. [7]

Americans, meanwhile, face increasing responsibility for funding their own retirements, as pensions continue to become less common. So they’re turning to 401(k) plans and IRA contributions: [8]