Median Wealth New All Time High (Patreon)

The graph states that the median wealth has hit a record high and that there has been a 37% increase since 2019.

The average household wealth is not directly given in this chart. The median value is used instead of the average (mean) because it is less affected by extremely high or low values and provides a better representation of the typical American family. 

The increase in net worth has not been evenly distributed. The net worth of the richest families has grown much faster than the net worth of the poorest families. For example, the net worth of the top 1% of families increased from $8.7 million in 1990 to $38.8 million in 2022, an increase of 346%.

There have been some periods of decline in net worth. The most recent decline was from 2007 to 2009, during the Great Recession. However, net worth has since recovered and reached a record high in 2022.

In other data points - According to the Federal Reserve Bank of St. Louis, the average net worth of all families in the United States in 2022 was $746,300. However, this number is highly skewed by the very wealthy. The median net worth of families in the United States in 2022 was $142,900.