The Average American Household Has A $1.06 Million Net Worth — Then Why Do People Still Feel So Broke?

Group 1 - The average household net worth in the U.S. is reported at $1.06 million, but this figure is skewed by a small number of ultra-wealthy households, with the median net worth being only $192,900 [2][3] - Half of U.S. households possess less than $192,900 in total assets, highlighting a significant disparity between average and median net worth [3] - Net worth is defined as total assets minus liabilities, which include mortgages, car loans, and other debts [4] Group 2 - Despite the increase in reported net worth, rising prices for essential goods and housing are impacting consumer purchasing power [6] - The average U.S. home value has reached $363,505, reflecting a 0.2% increase over the past year, making homeownership increasingly difficult for first-time buyers [6] - The average cost of a new car is now $48,039, which is nearly equivalent to the U.S. median income, indicating a strain on consumer finances [7]