According to the Bureau of Labor Statistics, the average American household earns an average of $87,432 a year before taxes and spends over 80% of their available income on basic necessities such as housing, food, and clothing. So, how does your household compare?
Bureau of Labor Statistics, 2023
The average American spends roughly 34% of their income on shelter. This can include property rent, mortgage interest, property taxes, maintenance, repairs, and home insurance.
Bureau of Labor Statistics, 2023
34%
of the average American budget
$20,091
Americans spend an average of 16% of their total income on transportation, including the purchase and upkeep of their vehicle.
Bureau of Labor Statistics, 2023
16%
of the average American budget
$9,761
Whether cooking at home or eating out, Americans spend an average of 12% of their income on food.
Bureau of Labor Statistics, 2023
12%
of the average American budget
$7,20
``
After the “basic needs” are covered, Americans spend an average of 12% of their income on personal insurance and pensions.
Bureau of Labor Statistics, 2023
12%
of the average American budget
$6,831
The average American household spends an average of 8% of their total income on health care and health insurance.
Bureau of Labor Statistics, 2023
8%
of the average American budget
$4,968
At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.
Bureau of Labor Statistics, 2023
5%
of the average American budget
$3,226
Americans value charitable giving by spending an average of 4% of their income on cash contributions.
Bureau of Labor Statistics, 2023
4%
of the average American budget
$1,888
Finally, Americans spend 3% of their total income on apparel.
Bureau of Labor Statistics, 2023
3%
of the average American budget
$1,866
According to the Bureau of Labor Statistics, the average American household earns an average of $82,852 a year before taxes and spends almost 80% of their available income on basic necessities such as housing, food, and clothing. So, how does your household compare?
BLS.gov, 2023
The average American spends roughly 33% of their income on shelter. This can include property rent, mortgage interest, property taxes, maintenance, repairs, and home insurance.
Bureau of Labor Statistics, 2023
33%
of the average American budget
$20,091
Americans spend an average of 17% of their total income on transportation, including the purchase and upkeep of their vehicle.
Bureau of Labor Statistics, 2023
17%
of the average American budget
$9,761
Whether cooking at home or eating out, Americans spend an average of 13% of their income on food.
Bureau of Labor Statistics, 2023
13%
of the average American budget
$7,203
After the “basic needs” are covered, Americans spend an average of 11.4% of their income on personal insurance and pensions.
Bureau of Labor Statistics, 2023
11.4%
of the average American budget
$6,831
The average American household spends an average of 8.2% of their total income on health care and health insurance.
Bureau of Labor Statistics, 2023
8.2%
of the average American budget
$4,968
At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.
Bureau of Labor Statistics, 2023
5%
of the average American budget
$3,226
Americans value charitable giving by spending an average of 3% of their income on cash contributions.
Bureau of Labor Statistics, 2023
3%
of the average American budget
$1,888
Finally, Americans spend 3% of their total income on apparel.
Bureau of Labor Statistics, 2023
3%
of the average American budget
$1,866
Have A Question About This Topic?
Related Content
And the Executor Is
The right executor may help ensure the distribution of your assets is done with as little upheaval as possible.
Six Surprising Facts About Retirement Confidence
This attention-grabbing infographic covers retirement topics you may not have considered.
Retirement Is a Beginning
Key questions to answer when you are considering retirement.
