The typical American household grew significantly richer during the coronavirus pandemic, with their net worths increasing by 30% between 2019 and 2021, according to a new analysis from the Pew Research Center. But while the wealthiest households saw their bottom lines surge in value, poorer households did not see the same gains.
Pew's report is based on data from the U.S. Census Bureau’s 2020, 2021, and 2022 Surveys of Income and Program Participation (SIPP), which collects information on the financial and demographic characteristics of households across the country. It takes into account assets like stocks, bonds, homes, vehicles, retirement accounts, et cetera, as well as debt like credit card balances, mortgages, and student loans.
