Older Americans Take the Top Wealth Spot
Families led by someone aged 75 or older have become the wealthiest in the United States, according to a Federal Reserve report released Friday. Their median net worth climbed to nearly $505,000, up from just over $367,000 in 2022. Three years earlier, the richest group had been families aged 65 to 74. The figures are adjusted for inflation. The shift reflects steady gains in the stock market, which have boosted wealthier families since the previous Survey of Consumer Finances, conducted every three years, was completed in 2022.[S1][S2][S3][S4][S5][S6][S7][S8]
For the oldest households, average wealth climbed 10% to $1.96 million. That figure is far higher than the median because the richest families lift the average. Meanwhile, the median net worth of the wealthiest tenth of families jumped 31% to $3.6 million between 2022 and 2025. The median represents the midpoint separating the richest and poorest families.[S1]
Young Families Lose Ground as Debt Strains Grow
Younger families headed the other way. Households aged 35 and under had a median net worth of $33,000, down 23% from 2022. Meanwhile, more Americans reported heavy debt burdens and missed loan payments. In 2025, almost 20% of U.S. families said they had fallen behind on a loan payment during the prior year, a steep rise from 12.2% in 2022. The share of families spending at least 40% of income on debt payments climbed to 8.6%, the highest in at least 12 years.[S1]
Incomes Rise Broadly, but Unevenly
The survey also showed widespread income gains after inflation was taken into account, which modestly narrowed income inequality versus three years earlier. Median family income increased roughly 7% between 2021 and 2024, to about $82,000. The survey tracks income for the year preceding each reporting period. Families in the middle fifth recorded the largest income increase, while the top fifth saw incomes fall. Higher earners' incomes declined, probably due to swings in business income, which the Fed described as volatile.[S1]
