Americans' wealth and income are up, but credit card debt is too

Key Points:

• From 2022 to 2025, the median net worth of American families increased by only 2% to $215,900, a much slower pace compared to the 37% surge from 2019 to 2022 during the COVID-19 pandemic years.
• Wealth inequality persisted, with lower-net-worth families often seeing declines in wealth, while wealthier families experienced significant gains; the median net worth for the bottom 25% fell by more than 50%, whereas the top 10% saw a 19% increase.
• Median household income rose 7% to $82,200 from 2022 to 2025, but Black and Asian families experienced declines in median income and wealth, with Black Americans seeing a 25% drop in median net worth during this period.
• Debt challenges increased, as the share of families behind on loan payments rose from 12% to nearly 20%, credit card debt balances grew significantly, and financial stress affected a growing subset of families despite stable overall debt levels.
• The homeownership rate remained steady at 66%, but rising home values and high mortgage rates have made buying less affordable; meanwhile, retirement plan participation increased slightly to 65%, though overall stock market participation declined from 58% to 56%.