Transportation costs for Americans that earn $50,000 to $69,999 per year are 18.0% of their household budgets. Conversely, Americans that earn $100,000 or more per year allocate approximately 32% of their yearly budgets to housing. Likewise, four-person households (0.96x) spend less on healthcare than two-person households.Īmericans that earn $29,999 or less per year allocate roughly 43% of their annual budgets to housing. Healthcare (1.93x), entertainment (1.91x), and transportation (1.88x) are near the 2x threshold.įour-person families only spend 81% of what two-person households spend on alcoholic beverages, and they only spend 84% of what two-person families spend on reading. Only life insurance and pension outlay (2.28x) for two-person households are more than double their one-person counterparts.
Two-person American households generate APTHI that’s 2.13x one-person households. Households in the northeast ($95,329) and the west ($91,964) earn the highest APTHI in the United States.Īverage annual household spending in the northeast and the west are more than $10,000 higher than in the south, and both regions also spend over $7,000 more than similar households in the midwest.Īmericans in Hawaii ($2,731), New Jersey ($2,562), and California ($2,529) incur the highest monthly expenses in the U.S, while Americans in West Virginia ($1,485), Arkansas ($1,534), and Mississippi ($1,567) incur the lowest monthly expenses in the U.S.Īmericans in Louisiana (45.0%), Florida (42.0%), and Montana (42.0%) allocate the highest proportion of their monthly household incomes to bill payments, while Americans in Utah (32.0%), Nebraska (33.0%), and Virginia (33.0%) allocate the lowest proportion of their monthly household incomes to bill payments. Conversely, Americans’ spending on clothing (-3.59%), tobacco and cigarettes (-0.21%), and personal care products/services (0.03%) recorded the lowest increases over the last six years. Conversely, Americans allocated the lowest proportion of their APTHI to reading materials (0.1%), tobacco and cigarettes (0.4%), and alcoholic beverages (0.6%).Īmericans’ average annual household expenditures have increased by a 2.30% CAGR from the end of 2014 until the end of 2020.Īmericans’ spending on cash contributions (4.16%), pensions/insurance (4.0%), and healthcare (3.18%) recorded the highest increases over the last six years.
Conversely, Americans’ expenditures on reading materials increased by 23.9% YoY, while spending on homemade meals increased by 6.4% YoY.Īmericans allocated the highest proportion of their average pre-tax household income (APTHI) to housing (25.4%), transportation (11.6%), and food (8.7%). Americans’ average pre-tax income increased by 1.8% YoY in 2020, while Americans’ average household expenditures decreased by 2.7% YoY.Īmericans’ expenditures at restaurants declined by 32.6% YoY in 2020, while alcoholic beverages fell by 17.4% YoY, clothing fell by 23.8% YoY, and public transportation plunged by 66.3% YoY.
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