WASHINGTON — The Federal Reserve Board on Friday officially released the highly anticipated results of the 2025 Survey of Consumer Finances, a comprehensive triennial study that provides the public, researchers, and policymakers with deep, granular insights into the economic condition, financial health, and evolving balance sheets of American families.
The comprehensive dataset offers a detailed, representative picture of what Americans own across the country, how and how much they borrow to finance their lives, and how they interact with traditional and modern banking institutions. Conducted regularly every three years since 1989, this long-running survey has established a vital and extensive time series of economic data. This historical depth allows economists and public officials to track structural shifts in household wealth, debt burdens, and financial security over more than three decades, capturing the American economy through periods of expansion, contraction, technological disruption, and shifting monetary policy regimes.
Alongside the primary release of the raw survey data, the Board published its definitive summary report, titled Changes in U.S. Family Finances from 2022 to 2025. This accompanying report examines the critical changes that have occurred across U.S. households over the three-year period, focusing specifically on shifts in real income, overall net worth, accumulated assets, outstanding liabilities and debt, and broader indicators of financial vulnerability. By evaluating these metrics, the report provides a clearer understanding of how American families have navigated the complex economic landscape leading up to 2026.
The Survey of Consumer Finances is widely regarded by financial analysts, academic researchers, and government officials as the gold standard for measuring household wealth and borrowing patterns in the United States. While other economic indicators measure aggregate national output or monthly employment changes, the survey dives directly into the financial realities of individual households, capturing the distribution of wealth and debt across different demographic groups, income levels, and geographic regions.
To make the extensive findings accessible to a wide audience, the Federal Reserve Board has made a range of complementary resources available alongside the primary data release. An interactive chartbook, designed to display changes in various financial characteristics over time, allows users to visualize trends dynamically. Additionally, extensive microdata and supplementary documentation examining other specific economic conditions of American families have been made fully accessible to researchers, academic institutions, and the general public through the Federal Reserve’s official research portals.
The monumental task of executing the survey is carried out for the Board by NORC, a renowned social science research organization based at the University of Chicago. To ensure that the findings accurately reflect the diverse population of the United States, participants in the study are chosen at random using rigorous, scientific sampling procedures. The sample is drawn from 119 distinct geographic areas, encompassing a diverse mix of densely populated metropolitan statistical areas and quiet rural counties across the country. This careful methodology is designed to produce a representative sample that captures the true economic diversity of American families, from coast to coast.
As policymakers in Washington and financial markets across the globe digest the newly released data, the 2025 Survey of Consumer Finances is expected to serve as a foundational resource for economic research and policy discussions for years to come. The comprehensive snapshot of household assets and liabilities provides crucial context for understanding the resilience and challenges of American consumers in an ever-changing economic environment.
For members of the media seeking further information, specialized data inquiries, or interviews regarding the release of the 2025 Survey of Consumer Finances, the Federal Reserve Board has established dedicated communication channels. Inquiries can be directed via email to [email protected] or by calling the Board’s media relations office directly at (202) 452-2955.
