The net worth in America by age, race, education, and location

Louise Beaumont/Getty Images

 

• The average American family has a net worth of $102,700, according to the most recent data from Federal Reserve's 2016 Survey of Consumer Finances. 
• The median net worth tells a very different story. According to that same data, the median family has a net worth of $52,700. 
• Many factors contribute to net worth, including bank account balances, investment assets, and even real estate. 
• A family's average net worth varies across age, race, location, and education level.
• SmartAsset's free tool can find a financial planner to help you grow your net worth »

The average net worth of American families is $102,700, according to the most recent data from Federal Reserve's 2016 Survey of Consumer Finances. Between 2013 and 2016, the average American family's net worth increased by 14%. 

While the average net worth is $102,700, the median net worth tells a very different story, with the typical American family having a net worth of $52,700. The median, or middle value in a set of numbers, is less sensitive to outliers, so may be a more accurate representation of a typical family. The median shows a very different reality for Americans, and we've included both numbers in this look at American families' finances. See the rest of the story at Business Insider

See Also:

• The best bank accounts for college students in 2020
• Here are the best savings accounts right now
• HSBC Direct Savings is an online-only account with low fees and a $1 opening deposit