Average American Household Net Worth Hits $1M, But Median Remains Under $200K

The average net worth of American households was $1.06 million in 2022, up 23% from 2019, boosted by rising house prices and stock market gains.

However, the median net worth of the typical household is just $192,900, which is more representative of most families' experience.

The average is skewed higher by billionaires like Musk and Bezos; the top 10% have average net worth of $6.63 million.

Homeowners have far higher average net worth ($1.53 million) than renters ($155,000), showing the importance of home ownership.

So while technically the "average" American household is in the millionaire class, the more typical family is not nearly that wealthy.