WealthJun 17, 2024
Wealth of American Millennials Hits Historic High
What We’re Showing?
Average wealth per household, adjusted for inflation, for American individuals under 40, from Q3 1989 to Q4 2023 (in December 2023 dollars).
Key Takeaways
- Millennials (those born between 1981 and 1996) may have ditched their “broke generation” stereotype.
- The average wealth of U.S. households under 40 was $259K in the fourth quarter (Q4) of 2023, compared to $164K in Q4 1989 and $182K in Q4 2000.
- This group has experienced low unemployment rates and rapid wage growth in the 2020s.
Dataset
| Quarter | Average Wealth for Those Under 40 (USD thousands) |
|---|---|
| Q3 1989 | 163.6 |
| Q4 1989 | 164.2 |
| Q1 1990 | 159.7 |
| Q2 1990 | 158.7 |
| Q3 1990 | 152.7 |
| Q4 1990 | 152.2 |
| Q1 1991 | 153.3 |
| Q2 1991 | 150.4 |
| Q3 1991 | 150.2 |
| Q4 1991 | 151.7 |
| Q1 1992 | 149 |
| Q2 1992 | 148.2 |
| Q3 1992 | 147.9 |
| Q4 1992 | 149.7 |
| Q1 1993 | 149.7 |
| Q2 1993 | 149.5 |
| Q3 1993 | 149.7 |
| Q4 1993 | 149.7 |
| Q1 1994 | 147.7 |
| Q2 1994 | 145.7 |
| Q3 1994 | 145 |
| Q4 1994 | 142.7 |
| Q1 1995 | 144.1 |
| Q2 1995 | 144.9 |
| Q3 1995 | 143.2 |
| Q4 1995 | 146.3 |
| Q1 1996 | 148.5 |
| Q2 1996 | 149.3 |
| Q3 1996 | 150.5 |
| Q4 1996 | 154.5 |
| Q1 1997 | 158 |
| Q2 1997 | 164.9 |
| Q3 1997 | 169.2 |
| Q4 1997 | 174.1 |
| Q1 1998 | 182.3 |
| Q2 1998 | 184 |
| Q3 1998 | 180.4 |
| Q4 1998 | 188.1 |
| Q1 1999 | 184.1 |
| Q2 1999 | 184.9 |
| Q3 1999 | 180.4 |
| Q4 1999 | 191.1 |
| Q1 2000 | 192.1 |
| Q2 2000 | 189.2 |
| Q3 2000 | 188 |
| Q4 2000 | 182.1 |
| Q1 2001 | 178.7 |
| Q2 2001 | 178.6 |
| Q3 2001 | 170.1 |
| Q4 2001 | 174.6 |
| Q1 2002 | 175 |
| Q2 2002 | 168.7 |
| Q3 2002 | 160.2 |
| Q4 2002 | 158.5 |
| Q1 2003 | 155.4 |
| Q2 2003 | 160.7 |
| Q3 2003 | 160.5 |
| Q4 2003 | 164.2 |
| Q1 2004 | 166.4 |
| Q2 2004 | 167.5 |
| Q3 2004 | 169.7 |
| Q4 2004 | 175.1 |
| Q1 2005 | 174.4 |
| Q2 2005 | 177.3 |
| Q3 2005 | 179.4 |
| Q4 2005 | 184.2 |
| Q1 2006 | 184.4 |
| Q2 2006 | 180 |
| Q3 2006 | 180.3 |
| Q4 2006 | 183.9 |
| Q1 2007 | 180.5 |
| Q2 2007 | 177.4 |
| Q3 2007 | 172.1 |
| Q4 2007 | 163.1 |
| Q1 2008 | 147.3 |
| Q2 2008 | 136 |
| Q3 2008 | 122.4 |
| Q4 2008 | 112 |
| Q1 2009 | 98.1 |
| Q2 2009 | 96.3 |
| Q3 2009 | 96 |
| Q4 2009 | 95.7 |
| Q1 2010 | 96 |
| Q2 2010 | 92.4 |
| Q3 2010 | 96.1 |
| Q4 2010 | 100.4 |
| Q1 2011 | 103.4 |
| Q2 2011 | 106 |
| Q3 2011 | 100.7 |
| Q4 2011 | 106.2 |
| Q1 2012 | 112.5 |
| Q2 2012 | 114.4 |
| Q3 2012 | 120.1 |
| Q4 2012 | 127.3 |
| Q1 2013 | 135.4 |
| Q2 2013 | 144.5 |
| Q3 2013 | 154.5 |
| Q4 2013 | 156.1 |
| Q1 2014 | 155 |
| Q2 2014 | 156 |
| Q3 2014 | 154.2 |
| Q4 2014 | 155.6 |
| Q1 2015 | 156.2 |
| Q2 2015 | 153.7 |
| Q3 2015 | 146.8 |
| Q4 2015 | 147.9 |
| Q1 2016 | 146.2 |
| Q2 2016 | 144.7 |
| Q3 2016 | 145.5 |
| Q4 2016 | 144.1 |
| Q1 2017 | 147.8 |
| Q2 2017 | 150.8 |
| Q3 2017 | 152.1 |
| Q4 2017 | 156.3 |
| Q1 2018 | 157.9 |
| Q2 2018 | 158.2 |
| Q3 2018 | 155.4 |
| Q4 2018 | 150.1 |
| Q1 2019 | 161.4 |
| Q2 2019 | 162.8 |
| Q3 2019 | 162.1 |
| Q4 2019 | 174.2 |
| Q1 2020 | 167.3 |
| Q2 2020 | 192.8 |
| Q3 2020 | 206.7 |
| Q4 2020 | 231 |
| Q1 2021 | 247.3 |
| Q2 2021 | 259.4 |
| Q3 2021 | 269.2 |
| Q4 2021 | 276.5 |
| Q1 2022 | 281.1 |
| Q2 2022 | 267.7 |
| Q3 2022 | 260.2 |
| Q4 2022 | 252 |
| Q1 2023 | 249.4 |
| Q2 2023 | 257.4 |
| Q3 2023 | 252.4 |
| Q4 2023 | 259 |
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