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764. Family Net Worth -- Mean and Median Net Worth in Constant (1998) Dollars, by Selected Characteristics of Families

[Constant dollar figures are based on consumer price index for all urban consumers published by U.S. Bureau of Labor Statistics. Families include one-person units and, as used in this table, are more comparable to the Bureau of Census household concept. Based on Survey of Consumer Finance; see Appendix III. For definition of median, see Guide to Tabular Presentation] For composition of regions: NORTHEAST: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, and Pennsylvania. MIDWEST: Ohio, Indiana, Illinois, Michigan, Wisconsin, Minnesota, Iowa, Missouri, North Dakota, South Dakota, Nebraska, and Kansas. SOUTH: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida, Kentucky, Tennessee, Alabama, Mississippi, Arkansas, Louisiana, Oklahoma, and Texas. WEST: Montana, Idaho, Wyoming, Colorado, New Mexico, Arizona, Utah, Nevada, Washington, Oregon, California, Alaska, and Hawaii

 
1989 1992 1995 1998
     
Family characteristic Percent Net worth Percent Net worth Percent Net worth Percent Net worth
of of of of
families Mean Median families Mean Median families Mean Median families Mean Median
($1,000) ($1,000) ($1,000) ($1,000) ($1,000) ($1,000) ($1,000) ($1,000)
 
  All families 100.0 236.9 59.7 100.0 212.7 56.5 100.0 224.8 60.9 100.0 282.5 71.6
 
Age of family head:
  Under 35 years old. 28.1 60.5 9.9 25.8 53.1 10.4 24.8 47.4 12.7 23.3 65.9 9.0
  35 to 44 years old 21.5 188.2 71.8 22.8 152.7 50.9 23.0 152.8 54.9 23.3 196.2 63.4
  45 to 54 years old. 15.1 351.7 125.7 16.2 304.4 89.3 17.9 313.0 100.8 19.2 362.7 105.5
  55 to 64 years old 13.9 391.4 124.6 13.2 384.9 130.2 12.5 404.7 122.4 12.8 530.2 127.5
  65 to 74 years old 12.5 356.0 97.1 12.6 326.1 112.3 12.0 369.3 117.9 11.2 465.5 146.5
  75 years old and over. 8.9 307.4 92.2 9.4 244.4 99.2 9.8 273.8 98.8 10.2 310.2 125.6
 
Family income in constant (1998) dollars:1
  Less than $10,000.. 15.1 30.5 1.9 14.8 32.1 2.9 15.1 46.6 4.8 12.6 40.0 3.6
  $10,000 to $24,999. 23.9 72.0 22.8 27.0 69.8 27.1 25.4 80.3 31.0 24.8 85.6 24.8
  $25,000 to $49,999. 29.7 134.2 58.1 29.8 131.4 55.6 31.0 124.0 56.7 28.8 135.4 60.3
  $50,000 to $99,999.. 22.7 247.4 131.4 20.7 245.6 129.9 21.0 258.1 126.6 25.2 275.5 152.0
  $100,000 and more. 8.6 1,378.3 542.1 7.6 1,300.8 481.9 7.4 1,411.9 511.4 8.6 1,727.8 510.8
 
Education of householder:
  No high school diploma. 24.3 106.0 30.7 20.4 80.2 21.3 18.5 89.6 24.0 16.5 79.1 20.9
  High school diploma.. 32.2 142.0 46.9 30.0 127.7 43.9 31.7 141.3 54.7 31.9 157.8 53.8
  Some college 15.7 237.2 58.5 17.8 195.8 65.9 19.0 201.2 49.7 18.5 237.8 73.9
  College degree.. 27.8 460.6 141.4 31.9 387.0 112.1 30.7 407.2 110.9 33.2 528.2 146.4
 
Current work status of householder:
  Working for someone else 57.0 145.0 48.3 54.8 139.6 44.7 58.3 145.2 51.9 59.2 168.9 52.4
  Self-employed.. 11.1 829.0 216.0 10.9 682.3 164.7 10.3 742.0 165.5 11.3 919.8 248.1
  Retired. 25.2 232.5 84.2 26.0 214.0 80.7 25.0 239.4 86.2 24.4 307.2 113.0
  Other not working 6.7 52.7 1.0 8.3 72.2 4.5 6.5 62.9 3.9 5.1 76.5 3.6
 
Region:
  Northeast.. 20.8 275.1 111.1 20.2 240.0 73.2 19.8 266.9 88.0 19.3 302.4 94.2
  Midwest 24.4 238.8 66.9 24.4 198.0 65.0 23.9 210.0 69.2 23.6 248.8 80.3
  South 34.4 167.6 44.9 34.6 160.4 39.4 35.1 197.6 46.6 35.7 267.5 61.3
  West 20.4 312.6 58.3 20.9 290.2 81.4 21.2 247.1 58.1 21.3 327.1 61.3
 
Tenure:
  Owner occupied.. 63.9 342.6 127.7 63.9 307.4 112.8 64.7 321.3 110.5 66.2 403.5 132.1
  Renter occupied or other 36.1 50.0 2.5 36.1 45.1 3.7 35.3 47.9 5.2 33.8 45.1 4.2



1 Income for year preceding the survey.

Source: Board of Governors of the Federal Reserve System, Federal Reserve Bulletin, January 2000 and unpublished data.

http://www.federalreserve.gov/pubs/oss/oss2/scfindex.html

* The Survey of Consumer Finances

The Survey of Consumer Finances (SCF) is a triennial survey sponsored by the Federal Reserve with the cooperation of the Department of the Treasury. It is designed to provide detailed information on U.S. families balance sheets and their use of financial services, as well as on their pension rights, labor force participation, and demographic characteristics at the time of the interview. The survey also collects information on total family income, before taxes, for the calendar year preceding the survey. The term family as it is used here is more comparable to the U.S. Bureau of the Census definition of household than to Censuss use of family, which excludes single people.

The underlying statistical methodology of the surveys has been largely unchanged since 1989, and the questionnaires have been modified only slightly, mostly to reflect changes in the availability of financial services or in the financial behavior of families. Thus, the data since that time are comparable.

The need to measure financial characteristics imposes special requirements on the survey design. The survey must provide reliable information both on items that are broadly distributed in the populationfor example, vehicle ownershipand on items that are highly concentrated in a relatively small part of the population for example, investment real estate. To address this problem, the SCF employs a dual-frame sample design that includes a standard geo-graphically based random sample and a special oversample of relatively wealthy families. Weights are used to combine information from the two samples for estimates of statistics for the full population.

The SCFs for 1992 and 1995 were conducted by the National Opinion Research Center at the University of Chicago (NORC) between July and December of each survey year. For the 1992 survey, 3,906 families were interviewed, and for the 1995 survey, 4,299 were interviewed.

All dollar figures are adjusted to 1998 dollars using the consumer price index (CPI) for all urban consumers. Concerns about how accurately the CPI repre-sents inflation for families have been discussed in the literature. If, as generally supposed, the index overstates the true degree of inflation, upward adjustments to past dollar amounts will appear too large, and trends in positive dollar amounts will be biased downward. An index sometimes proposed as an alternative to the CPI is the implicit price deflator for personal consumption expenditure (PCE), which is reported as a part of the national income and product accounts. Over 1989-98, price changes measured by the CPI and the PCE deflator differed by a relatively small amount.

*



https://allcountries.org/uscensus/764_family_net_worth_mean_and_median.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright © 2006 Photius Coutsoukis and Information Technology Associates, all rights reserved.