It is often said that the American middle class is shrinking or that its wealth is getting squeezed as inequality rises. While the size of the middle class may have increased over the years, the share of the wealth it captures has not.
Another factor now threatens to further put a dent in the middle class’s share of wealth – inflation. As household incomes fail to increase at an equal rate to inflation, the number of families struggling to pay rent or mortgages is increasing, putting an additional squeeze on their share of wealth. (Here is what it costs to retire comfortably in every state.)
To identify the wealth of the middle class the year you were born, 24/7 Wall St. reviewed the total wealth of the middle 40% of households for each year going back to 1976 from Real Time Inequality, which provides statistics on how economic growth is distributed across groups. The middle class – defined as the 40% of households – is all households whose wealth falls between the 30th and 70th percentiles (or between the upper 30% and bottom 30%).Â
The results show that while the wealth of the middle 40% of households (which has been adjusted for inflation) is increasing, the share of wealth that the middle class holds has been decreasing fairly steadily since 1985. In the 36 years since then, the middle class has gone from owning 35.5% of all wealth to owning 24.5% in 2021.Â
One reason for this is that the wealth of the top 10% of households is increasing at a rate disproportionate to the increase of total wealth for all households. According to data from the U.S. Federal Reserve, the wealthiest 10% of Americans control $93.8 trillion – which is more than double the $40.3 trillion controlled by the remaining 90% of Americans.Â
The upward redistribution of incomes over the last few decades has cost the bottom 90% of income earners about $50 trillion since 1975, which was captured by the top 1%. It is no surprise that the U.S. is one of the countries with the worst wealth inequality.
Click here to see how wealthy the middle class was the year you were born
Click here to read our detailed methodology
Source: Archive Photos / Getty Images
1976
> Wealth of middle 40% of households: $5.66 trillion
> Avg. wealth per middle class household: $145,044 — #45 most
> Middle class wealth share: 31.9% — #9 largest
> Middle class households: 39,030,477
> Total households: 97,576,192
[in-text-ad]
Source: Fortgens Photography / Getty Images
1977
> Wealth of middle 40% of households: $5.69 trillion
> Avg. wealth per middle class household: $141,919 — #46 most
> Middle class wealth share: 31.3% — #13 largest
> Middle class households: 40,098,329
> Total households: 100,245,823
24/7 Wall St.
Source: Keystone / Getty Images
1978
> Wealth of middle 40% of households: $6.36 trillion
> Avg. wealth per middle class household: $154,975 — #43 most
> Middle class wealth share: 33.2% — #3 largest
> Middle class households: 41,063,085
> Total households: 102,657,711
Source: yellowsarah / Getty Images
1979
> Wealth of middle 40% of households: $6.42 trillion
> Avg. wealth per middle class household: $152,293 — #44 most
> Middle class wealth share: 31.4% — #11 largest
> Middle class households: 42,160,386
> Total households: 105,400,965
[in-text-ad-2]
Source: M. Fresco / Evening Standard / Getty Images
1980
> Wealth of middle 40% of households: $6.80 trillion
> Avg. wealth per middle class household: $157,538 — #42 most
> Middle class wealth share: 31.6% — #10 largest
> Middle class households: 43,148,086
> Total households: 107,870,214
Source: Getty Images
1981
> Wealth of middle 40% of households: $6.94 trillion
> Avg. wealth per middle class household: $157,978 — #41 most
> Middle class wealth share: 32.1% — #8 largest
> Middle class households: 43,952,489
> Total households: 109,881,223
[in-text-ad]
Source: cws_design / Getty Images
1982
> Wealth of middle 40% of households: $7.28 trillion
> Avg. wealth per middle class household: $162,290 — #40 most
> Middle class wealth share: 32.7% — #7 largest
> Middle class households: 44,844,977
> Total households: 112,112,442
Source: Hulton Archive / Getty Images
1983
> Wealth of middle 40% of households: $7.72 trillion
> Avg. wealth per middle class household: $169,215 — #39 most
> Middle class wealth share: 33.1% — #5 largest
> Middle class households: 45,597,247
> Total households: 113,993,117
Source: bgwalker / Getty Images
1984
> Wealth of middle 40% of households: $8.20 trillion
> Avg. wealth per middle class household: $176,600 — #38 most
> Middle class wealth share: 33.5% — #2 largest
> Middle class households: 46,444,412
> Total households: 116,111,031
[in-text-ad-2]
Source: cws_design / Getty Images
1985
> Wealth of middle 40% of households: $9.01 trillion
> Avg. wealth per middle class household: $189,878 — #37 most
> Middle class wealth share: 33.5% — #1 largest
> Middle class households: 47,453,103
> Total households: 118,632,757
Source: Getty Images
1986
> Wealth of middle 40% of households: $9.73 trillion
> Avg. wealth per middle class household: $200,867 — #35 most
> Middle class wealth share: 33.2% — #4 largest
> Middle class households: 48,438,967
> Total households: 121,097,418
[in-text-ad]
Source: Getty Images
1987
> Wealth of middle 40% of households: $9.99 trillion
> Avg. wealth per middle class household: $203,339 — #30 most
> Middle class wealth share: 32.8% — #6 largest
> Middle class households: 49,127,662
> Total households: 122,819,155
Source: Tony Duffy / Allsport / Getty Images
1988
> Wealth of middle 40% of households: $10.10 trillion
> Avg. wealth per middle class household: $202,768 — #31 most
> Middle class wealth share: 31.3% — #12 largest
> Middle class households: 49,805,120
> Total households: 124,512,801
Source: Tom Kelley Archive / Getty Images
1989
> Wealth of middle 40% of households: $10.67 trillion
> Avg. wealth per middle class household: $210,955 — #28 most
> Middle class wealth share: 31.2% — #14 largest
> Middle class households: 50,587,653
> Total households: 126,469,133
[in-text-ad-2]
Source: GomezDavid / Getty Images
1990
> Wealth of middle 40% of households: $10.38 trillion
> Avg. wealth per middle class household: $201,704 — #34 most
> Middle class wealth share: 31.1% — #15 largest
> Middle class households: 51,466,886
> Total households: 128,667,214
Source: Comstock / Getty Images
1991
> Wealth of middle 40% of households: $10.82 trillion
> Avg. wealth per middle class household: $206,270 — #29 most
> Middle class wealth share: 30.9% — #16 largest
> Middle class households: 52,447,899
> Total households: 131,119,748
[in-text-ad]
Source: Jupiterimages / Getty Images
1992
> Wealth of middle 40% of households: $10.64 trillion
> Avg. wealth per middle class household: $199,925 — #36 most
> Middle class wealth share: 29.8% — #17 largest
> Middle class households: 53,213,359
> Total households: 133,033,397
Source: Comstock / Getty Images
1993
> Wealth of middle 40% of households: $10.90 trillion
> Avg. wealth per middle class household: $202,055 — #33 most
> Middle class wealth share: 29.4% — #19 largest
> Middle class households: 53,942,466
> Total households: 134,856,165
Source: Comstock / Getty Images
1994
> Wealth of middle 40% of households: $11.05 trillion
> Avg. wealth per middle class household: $202,412 — #32 most
> Middle class wealth share: 29.6% — #18 largest
> Middle class households: 54,611,844
> Total households: 136,529,609
[in-text-ad-2]
Source: pitchal frederic / Getty Images
1995
> Wealth of middle 40% of households: $11.88 trillion
> Avg. wealth per middle class household: $213,899 — #27 most
> Middle class wealth share: 29.3% — #20 largest
> Middle class households: 55,554,840
> Total households: 138,887,101
Source: Comstock / Getty Images
1996
> Wealth of middle 40% of households: $12.51 trillion
> Avg. wealth per middle class household: $221,885 — #26 most
> Middle class wealth share: 29.1% — #21 largest
> Middle class households: 56,363,435
> Total households: 140,908,588
[in-text-ad]
Source: LindaYolanda / Getty Images
1997
> Wealth of middle 40% of households: $13.46 trillion
> Avg. wealth per middle class household: $235,450 — #24 most
> Middle class wealth share: 28.4% — #26 largest
> Middle class households: 57,171,962
> Total households: 142,929,905
24/7 Wall St.
Source: Shanina / Getty Images
1998
> Wealth of middle 40% of households: $14.80 trillion
> Avg. wealth per middle class household: $254,533 — #19 most
> Middle class wealth share: 28.1% — #29 largest
> Middle class households: 58,127,469
> Total households: 145,318,673
Source: Harry How / Getty Images
1999
> Wealth of middle 40% of households: $16.13 trillion
> Avg. wealth per middle class household: $273,257 — #15 most
> Middle class wealth share: 27.9% — #31 largest
> Middle class households: 59,012,825
> Total households: 147,532,062
[in-text-ad-2]
Source: landonarnold / Getty Images
2000
> Wealth of middle 40% of households: $16.26 trillion
> Avg. wealth per middle class household: $273,138 — #16 most
> Middle class wealth share: 28.5% — #25 largest
> Middle class households: 59,517,293
> Total households: 148,793,232
Source: Westersoe / Getty Images
2001
> Wealth of middle 40% of households: $16.57 trillion
> Avg. wealth per middle class household: $274,860 — #13 most
> Middle class wealth share: 28.9% — #22 largest
> Middle class households: 60,282,324
> Total households: 150,705,811
[in-text-ad]
Source: cws_design / Getty Images
2002
> Wealth of middle 40% of households: $15.85 trillion
> Avg. wealth per middle class household: $259,793 — #18 most
> Middle class wealth share: 28.9% — #23 largest
> Middle class households: 61,020,758
> Total households: 152,551,896
Source: Amax Photo / Getty Images
2003
> Wealth of middle 40% of households: $17.36 trillion
> Avg. wealth per middle class household: $281,304 — #11 most
> Middle class wealth share: 28.5% — #24 largest
> Middle class households: 61,699,597
> Total households: 154,248,993
Source: Wolfsburg1984 / Getty Images
2004
> Wealth of middle 40% of households: $19.21 trillion
> Avg. wealth per middle class household: $306,604 — #9 most
> Middle class wealth share: 28.4% — #27 largest
> Middle class households: 62,662,122
> Total households: 156,655,305
[in-text-ad-2]
Source: Altinosmanaj / Getty Images
2005
> Wealth of middle 40% of households: $20.33 trillion
> Avg. wealth per middle class household: $320,373 — #7 most
> Middle class wealth share: 28.2% — #28 largest
> Middle class households: 63,469,531
> Total households: 158,673,826
Source: LSOphoto / Getty Images
2006
> Wealth of middle 40% of households: $21.11 trillion
> Avg. wealth per middle class household: $328,280 — #5 most
> Middle class wealth share: 27.9% — #30 largest
> Middle class households: 64,298,062
> Total households: 160,745,154
[in-text-ad]
Source: lechatnoir / Getty Images
2007
> Wealth of middle 40% of households: $20.68 trillion
> Avg. wealth per middle class household: $316,828 — #8 most
> Middle class wealth share: 27.5% — #32 largest
> Middle class households: 65,276,505
> Total households: 163,191,262
Source: deucee_ / Getty Images
2008
> Wealth of middle 40% of households: $16.40 trillion
> Avg. wealth per middle class household: $248,810 — #20 most
> Middle class wealth share: 26.8% — #33 largest
> Middle class households: 65,913,303
> Total households: 164,783,258
Source: JasonDoiy / Getty Images
2009
> Wealth of middle 40% of households: $16.59 trillion
> Avg. wealth per middle class household: $247,955 — #21 most
> Middle class wealth share: 26.6% — #34 largest
> Middle class households: 66,916,435
> Total households: 167,291,088
[in-text-ad-2]
Source: Brendan Hoffman / Getty Images
2010
> Wealth of middle 40% of households: $16.67 trillion
> Avg. wealth per middle class household: $246,200 — #22 most
> Middle class wealth share: 25.3% — #35 largest
> Middle class households: 67,695,881
> Total households: 169,239,701
Source: Koh Sze Kiat / Getty Images
2011
> Wealth of middle 40% of households: $16.10 trillion
> Avg. wealth per middle class household: $234,006 — #25 most
> Middle class wealth share: 24.8% — #39 largest
> Middle class households: 68,816,161
> Total households: 172,040,403
[in-text-ad]
Source: Mario Tama / Getty Images
2012
> Wealth of middle 40% of households: $16.62 trillion
> Avg. wealth per middle class household: $239,443 — #23 most
> Middle class wealth share: 23.9% — #45 largest
> Middle class households: 69,392,010
> Total households: 173,480,024
Source: Kemal Yildirim / Getty Images
2013
> Wealth of middle 40% of households: $18.47 trillion
> Avg. wealth per middle class household: $262,244 — #17 most
> Middle class wealth share: 24.1% — #43 largest
> Middle class households: 70,443,222
> Total households: 176,108,055
Source: Andrew Burton / Getty Images
2014
> Wealth of middle 40% of households: $19.47 trillion
> Avg. wealth per middle class household: $273,416 — #14 most
> Middle class wealth share: 23.7% — #46 largest
> Middle class households: 71,195,598
> Total households: 177,988,996
[in-text-ad-2]
Source: Alex Brandon-Pool / Getty Images
2015
> Wealth of middle 40% of households: $20.19 trillion
> Avg. wealth per middle class household: $278,621 — #12 most
> Middle class wealth share: 24.0% — #44 largest
> Middle class households: 72,458,942
> Total households: 181,147,354
Source: Jeff J Mitchell / Getty Images
2016
> Wealth of middle 40% of households: $21.24 trillion
> Avg. wealth per middle class household: $293,715 — #10 most
> Middle class wealth share: 24.2% — #42 largest
> Middle class households: 72,329,727
> Total households: 180,824,317
[in-text-ad]
Source: Igor Alecsander / Getty Images
2017
> Wealth of middle 40% of households: $23.91 trillion
> Avg. wealth per middle class household: $328,483 — #4 most
> Middle class wealth share: 25.0% — #38 largest
> Middle class households: 72,778,993
> Total households: 181,947,484
24/7 Wall St.
Source: Anchiy / Getty Images
2018
> Wealth of middle 40% of households: $23.50 trillion
> Avg. wealth per middle class household: $320,710 — #6 most
> Middle class wealth share: 25.1% — #36 largest
> Middle class households: 73,263,089
> Total households: 183,157,723
Source: PIKSEL / Getty Images
2019
> Wealth of middle 40% of households: $26.28 trillion
> Avg. wealth per middle class household: $357,260 — #3 most
> Middle class wealth share: 25.0% — #37 largest
> Middle class households: 73,558,694
> Total households: 183,896,734
[in-text-ad-2]
Source: Geber86 / Getty Images
2020
> Wealth of middle 40% of households: $29.16 trillion
> Avg. wealth per middle class household: $394,474 — #2 most
> Middle class wealth share: 24.7% — #40 largest
> Middle class households: 73,922,628
> Total households: 184,806,570
Source: Fly View Productions / Getty Images
2021
> Wealth of middle 40% of households: $31.77 trillion
> Avg. wealth per middle class household: $428,546 — #1 most
> Middle class wealth share: 24.5% — #41 largest
> Middle class households: 74,143,479
> Total households: 185,358,697
Methodology
To identify the wealth of the middle class the year you were born, 24/7 Wall St. reviewed the total wealth of the middle 40% of households for each year going back to 1976 from Real Time Inequality, which provides statistics on how economic growth is distributed across groups with research conducted by economists Thomas Blanchet, Emmanuel Saez, Gabriel Zucman.Â
All dollar figures are annualized and adjusted for price inflation to 2021 dollars. The average wealth per household, the population, and the middle class wealth share are also from Real Time Inequality, and all data is for the fourth quarter of each year. RealTime Inequality wealth definition includes all marketable wealth owned by households.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
