The triennial updates have begun! Today the Federal Reserve released the latest results from their 2016 Survey of Consumer Finances. This survey contains detailed information on the financial status of American households on things such as retirement, net worth, income and debt. All percentile calculators (Net Worth and Income) using Survey of Consumer Finances data from the US Federal Reserve have been updated today.
Inflation Adjusted Highlights 2013 – 2016
To read the entire summary, here’s a link to the 44 page report published by the Fed on the survey changes for 2013 vs 2016. Most of the numbers are adjusted for inflation. https://www.federalreserve.gov/publications/files/scf17.pdf
- Median Household Income is now $52.7k up from $48.1k (up 9.5%)
- Median Household Net worth is now $97.3k up from $83.7k (up 16.2%)
Additional News Articles
Minorities and Americans without college degrees showed greatest gains in wealth since 2013, new data says – The newest survey has reported show double digit percentage gains in net worth and income for certain minority groups and less educated households. The nominal gains are relatively low.
The top 1% of Americans now control 38% of the wealth