The U.S. Affordability Crisis - By The Nimbers

By AI search (and Brian T Lynch, MSW)

The United States is a very rich country with a poor citizenry. It is structurally organized to grow and maintain this vast disparity, and we the people are beginning to catch on to that fact.  I asked  an AI search anout this and here is what came up:

The average American net worth* is estimated at approximately $620,654 (as of 2024/2025), though this figure is heavily skewed by high-wealth households. A more representative figure, the median net worth, is significantly lower at roughly $124,041. 

Average (Mean): Calculated by taking total household wealth and dividing it by the number of households. This number is often high because billionaires and ultra-high-net-worth individuals pull the average upward.

Median: The exact middle point. Half of the population has more, and half has less. This is generally considered a more accurate reflection of American’s lived experience  

Approximately 88% to 97% of U.S. families have less than $1 million in specific investments or retirement savings. While average net worth is high due to top-tier wealth, only about 4.7% of Americans hold at least $1 million in retirement-specific accounts. Roughly 1 in 6 (about 16-18%) households have a total net worth exceeding $1 million. 

Retirement Account Data: Only 4.7% of Americans have $1 million+ in dedicated retirement accounts (e.g., 401(k) or IRA).

Total Household Assets: Roughly 88% of U.S. households have a total net worth under $1 million.

Liquid Assets: Estimates suggest only about 2% of US adults have over $1 million in liquid assets like cash, stocks, or bonds.

Median vs. Average: While the average U.S. household net worth is over $1 million, the median (typical) net worth is only around $192,700

Age is a Factor: While 65-74 year olds have the highest average net worth ($1.2M), their median net worth is only $266,400.

Here is a startling fact;  According to the most recent comprehensive Federal Reserve data (2022 SCF, typically cited through 2025), couples with children have a median net worth of $250,620, while single parents have a median net worth of $50,750.

As of recent federal data, the median household net worth in the United States is approximately $192,700 (based on 2022 Survey of Consumer Finances data released in 2023). While average net worth exceeds $1 million due to high-wealth outliers, the median provides a more accurate "middle point" for the typical American family. 

Here is a particularly sad fact given America’s great wealth:  The United States consistently records higher child poverty rates than most European countries. Recent data indicates the U.S. child poverty rate has been observed at approximately 21% to 26%, whereas many European nations, particularly in Scandinavia and parts of Western Europe, frequently report rates between 5% and 12%.

While temporary policy shifts like the expanded Child Tax Credit briefly reduced U.S. rates, the U.S. generally remains at the high end of developed nations. 

Me here: As a child welfare worker for 30 years I have observed first-hand that the financial welfare of our children isn’t a priority in America.

* Note that the average net worth of $620,654 per person is what each of us would have if America’s personal wealth was equally distributed.

The United States is a very rich country with a poor citizenry. It is structurally organized to grow and maintain this vast disparity, and we the people are beginning to catch on to that fact. I asked an AI search anout this and here is what came up:

The average American net worth* is estimated at approximately $620,654 (as of 2024/2025), though this figure is heavily skewed by high-wealth households. A more representative figure, the median net worth, is significantly lower at roughly $124,041.

Average (Mean): Calculated by taking total household wealth and dividing it by the number of households. This number is often high because billionaires and ultra-high-net-worth individuals pull the average upward.

Median: The exact middle point. Half of the population has more, and half has less. This is generally considered a more accurate reflection of American’s lived experience

Approximately 88% to 97% of U.S. families have less than $1 million in specific investments or retirement savings. While average net worth is high due to top-tier wealth, only about 4.7% of Americans hold at least $1 million in retirement-specific accounts. Roughly 1 in 6 (about 16-18%) households have a total net worth exceeding $1 million.

Retirement Account Data: Only 4.7% of Americans have $1 million+ in dedicated retirement accounts (e.g., 401(k) or IRA).

Total Household Assets: Roughly 88% of U.S. households have a total net worth under $1 million.

Liquid Assets: Estimates suggest only about 2% of US adults have over $1 million in liquid assets like cash, stocks, or bonds.

Median vs. Average: While the average U.S. household net worth is over $1 million, the median (typical) net worth is only around $192,700

Age is a Factor: While 65-74 year olds have the highest average net worth ($1.2M), their median net worth is only $266,400.

Here is a startling fact; According to the most recent comprehensive Federal Reserve data (2022 SCF, typically cited through 2025), couples with children have a median net worth of $250,620, while single parents have a median net worth of $50,750.

As of recent federal data, the median household net worth in the United States is approximately $192,700 (based on 2022 Survey of Consumer Finances data released in 2023). While average net worth exceeds $1 million due to high-wealth outliers, the median provides a more accurate "middle point" for the typical American family.

Here is a particularly sad fact given America’s great wealth: The United States consistently records higher child poverty rates than most European countries. Recent data indicates the U.S. child poverty rate has been observed at approximately 21% to 26%, whereas many European nations, particularly in Scandinavia and parts of Western Europe, frequently report rates between 5% and 12%.

While temporary policy shifts like the expanded Child Tax Credit briefly reduced U.S. rates, the U.S. generally remains at the high end of developed nations.

Me here: As a child welfare worker for 30 years I have observed first-hand that the financial welfare of our children isn’t a priority in America.

* Note that the average net worth of $620,654 per person is what each of us would have if America’s personal wealth was equally distributed.