Households are spending a higher percentage of their budgets on housing, healthcare, and education than almost 30 years ago, according to the latest data from the Bureau of Labor Statistics. US households are also spending less on clothing, food, and transportation.
In 2020, the average American household spent about $51,800 on goods and services[1]. Housing was the biggest expense at about 40% of all household spending. Americans also spent more than 10% of their total budgets on transportation (19%), food (14%), and medical care (10%).
