Fed Survey Finds U.S. Wealth Rose as Stock Participation Fell

The Federal Reserve Board’s 2025 survey found that U.S. families increased their median income and wealth while stock-market participation declined and severe debt-payment burdens became more common.

The board released the Survey of Consumer Finances on Friday, Oct. 9, 2026, at 10 a.m. ET (14:00 UTC). Real median family income rose 7% from 2022 to $82,200, while real mean income fell 6% to $145,200.

Real median net worth increased 2% to $215,900. Real mean net worth rose 7% to $1.24 million, showing a wider gap between typical family wealth and the overall average.

Homeownership was 66%, little changed from 2022. Among homeowners, median net housing value increased to $230,000 from $218,900.

About 65% of families participated in a retirement plan, slightly above the 2022 level. Stock-market participation moved in the opposite direction, falling to 56% from 58%. Among families that held stocks, median holdings rose 36% to $77,400 from $56,900.

Debt remained widespread, with about 77% of families carrying debt. Median and mean debt outstanding were unchanged from 2022.

The share of families whose debt payments exceeded 40% of income rose to 8.6% from 6.5%, the highest level since the 2013 survey. The measure indicates a greater financial burden for households managing mortgages, credit cards, student loans and other obligations.

The Survey of Consumer Finances is conducted every three years and covers what U.S. families own, how much they borrow and how they use financial services. NORC at the University of Chicago conducted the survey for the Federal Reserve, selecting participants from 119 metropolitan and rural areas through scientific sampling procedures.

The 2025 survey was conducted from March through December 2025, with results released in late 2026. It is separate from the Federal Reserve’s annual Survey of Household Economics and Decisionmaking, which measures reported household economic well-being.