Fed Survey Finds Household Debt Stress Rising

The Federal Reserve Board released the 2025 Survey of Consumer Finances on October 9, 2026. Real median family income rose 7 percent to $82,200, while real mean family income fell 6 percent to $145,200. Real median net worth rose 2 percent to $215,900 and real mean net worth rose 7 percent to $1.24 million. Families with debt payment-to-income ratios above 40 percent rose from 6.5 percent to 8.6 percent, a level last seen in 2013. Nearly 20 percent of families were behind on loan payments, up from about 12 percent. The Fed said families were more likely to be behind on financial obligations than at any point since the 2010 survey. Lower-end income and net worth families saw modest median and mean income increases while upper-end families saw declines, indicating slightly decreased income inequality, the Fed reported. Black non-Hispanic families, Asian families, and top income and net worth families were exceptions, with both median and mean income falling. Homeownership held near 66 percent. Median net housing value rose to $230,000. Stock participation fell from 58 to 56 percent as median holdings grew 36 percent to $77,400. Retirement participation rose slightly to about 65 percent. Families with any debt stayed at 77 percent.