New Federal Reserve data shows Americans' net worth rose over past 3 years, driven by home values
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The Federal Reserve recently released data on the average net worth of Americans by age group.
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Net worth is calculated as assets minus liabilities. It measures your overall financial health.
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Between 2019-2022, median net worth rose 37% to $192,900 and mean net worth rose 23% to $1,063,700.
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The wealthiest households drive up the average net worth, making the mean much higher than the median.
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Homeownership rate increased slightly to 66.1%. Median home value rose from $139,100 in 2019 to $201,000 in 2022.