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Image source: Getty Images. On average, American families spent $6,440 a month -- $77,280 a year -- in 2023. Housing is the largest expenditure, followed by transportation and food.
The U.S. has the world's largest consumer market. [89] The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. [90] The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others. [91]
But the median home price that month was proportionally much lower than today – $70,399 ($231,902 in 2023 dollars), or 3.69 times the median income. ... Inflation has also impacted spending on ...
American household spending has gone up by 23.4% on average. This was spurred by the pandemic and many people receiving stimulus checks. Check Out: 9 Easiest Ways To Maximize Your Savings in 2024...
According to a BLS news release on September 9, 2020, average annual expenditures for all consumer units in 2019 were $63,036, a 3.0-percent increase from 2018, the U.S. Bureau of Labor Statistics reported today. During the same period, the Consumer Price Index (CPI-U) rose 1.8 percent and average income before taxes increased 5.4 percent.
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
Behind housing and transportation, food and alcohol is the third-largest spending category for the average American – totaling upwards of $7,000 per household in 2020, according to the Bureau of ...
Median U.S. household income per County in 2021 Median U.S. household income through 2019 U.S. real median household income reached $63,688 in January 2019, an increase of $171 or 0.3% over one month over that of December 2018. This article is part of a series on Income in the United States of America Topics Household Personal Affluence Social class Income inequality gender pay gap racial pay ...