The average household spends 17% of their income on mortgage payments.
This often comes down to an increased likelihood of having a mortgage and other debts. The average American household spends 82% of its income on expenses.ĭespite making more money on average, American households have far more expenses than the average individual. This means individuals often sacrifice less of their income in expenses when compared to families and households. The average monthly personal income for Americans is $6,228, with the average personal expense being $3,405 per month. The average individual spends 55% of their monthly income on expenses. The average monthly household expenses for a family of four are $7,749.įamilies of four have the highest average monthly household expenses, even higher than a family of five or more, which average out at $7,400.Īverage Monthly Household Expenses By Family Size That’s a whopping 75.7% of the average yearly income of $87,432, meaning the average American household only keeps a meager $20,500 of their total income per year. The average annual spending for American households is $66,928. To find out more about typical spending, here are some key facts:
Over 75% of American incomes are devoted to living expenses.įor further analysis, we broke down the data in the following ways:Īverage Spending | Monthly Spending | Income and Spending | Other SpendingĪverage monthly spending and average annual spending are intrinsically connected, with costs adding up over time. The number one category of spending for US households is housing, with the average cost being $1,885 or over 33% (one-third) of total spending. According to our extensive research:Īverage monthly personal expenses in the US are $3,405.Īverage monthly household expenses in the US are $5,577. To learn more about average household monthly expenses in the US, we’ve gathered all of the latest statistics. Research Summary: Ever wonder how your average spending per month stacks up against other Americans? The fact is that most of our average monthly expenses are common and unavoidable, but that doesn’t mean you won’t be surprised by how much you’re actually spending.
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