These statistics come from Household Debt in the U.S.: 2000 to 2011 and accompanying detailed tables that examine the median value of debt and percent holding debt for households, by various characteristics of the householder, such as race and Hispanic origin, age, education and income quintile.
Between 2000 and 2011, the largest increases in median debt were experienced in households with householders age 35 to 44 (to
"Those 65 and over became more likely to hold debt against their homes, and their median housing debt increased, as well, which explains a significant portion of the increase in their overall debt between 2000 and 2011,"
During the period, the composition of debt held by households also changed considerably. While the percentage holding credit card debt declined from 51 percent in 2000 to 38 percent in 2011, the percentage holding other unsecured debt, such as educational loans and medical bills not covered by insurance, rose from 11 percent to 19 percent.
"Householders under age 45 experienced the largest increases in both the likelihood of holding other debt and the amount of other debt," Vornovytskyy said.
Also released today was Household Wealth in the U.S.: 2000 to 2011 and associated detailed tables that examine the median value of assets and percent holding assets for households in 2011, by type of asset owned and householder characteristics similar to those explored in Household Debtin the U.S.: 2000 to 2011.
According to Household Wealth in the U.S.: 2000 to 2011, median net worth rose from
"The changes in overall median net worth observed over the past decade have been driven primarily by changes in one of its major components — equity that American households hold in their homes,"
Over this same time period, there was significant regional variation in the changes in median net worth. The West experienced the largest changes over the last decade, increasing from
Between 2010 and 2011, median net worth showed no statistically significant change. Median net worth excluding home equity increased from
The source of data for each of these products was the Survey of Income and Program Participation. As in all surveys, these data are subject to sampling and nonsampling error. For further information on the source of the data and accuracy of the estimates, including standard errors and confidence intervals, go to http://www.sipp.census.gov/sipp/source.html. All dollar figures are in 2011 constant dollars.
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