US median family income rises as more households face high debt payments
A Federal Reserve survey put the share of families with debt payments above 40 percent of income at 8.6 percent, a level last seen in its 2013 survey.
US families recorded a 7 percent increase in real median income, reaching US$82,200 in 2025 compared with 2022, the Federal Reserve Board said in findings published October 09, 2026. Its survey also found that a larger share of families faced high debt payments relative to income.
The 2025 Survey of Consumer Finances put the proportion of families whose debt payments exceeded 40 percent of income at 8.6 percent, up from 6.5 percent. That level was last seen in the 2013 survey. The share carrying debt stayed roughly steady at 77 percent, with neither median nor mean outstanding debt changing.
Income and wealth measures diverged. Real mean income dropped 6 percent, reaching US$145,200. Real median wealth increased 2 percent, reaching US$215,900, while the mean rose 7 percent, reaching US$1.24 million. Families at the lower ends of the income and wealth distributions had modest income gains; those at the upper ends experienced declines.
Homeownership was largely unchanged at 66 percent. Among homeowners, the median home value after deducting debt secured against it reached US$230,000, compared with US$218,900 in 2022.
Stock ownership slipped to 56 percent from 58 percent. Among stockholding families, the median value increased 36 percent, reaching US$77,400 from US$56,900. Participation in retirement plans rose slightly to around 65 percent.
NORC at the University of Chicago conducts the survey for the Board, drawing randomly selected participants from 119 geographic areas. The current survey format began in 1989, with surveys conducted at three-year intervals.
