What Percentage of the U.S. Population Has $5 Million?
Gain insight into the percentage of Americans with $5 million net worth, understanding its definition and place within the U.S. financial landscape.
The distribution of wealth across the United States often sparks curiosity, particularly regarding the prevalence of significant financial holdings. Understanding the concentration of substantial wealth, such as a $5 million net worth, provides insight into the economic landscape and how wealth is distributed among American households.
The Current Landscape of High Net Worth Households
A net worth of $5 million places an individual or household within the upper echelons of wealth in the United States. Recent data indicates that achieving a net worth of $2.7 million is required to be in the top 2% of households as of 2025. The threshold for the top 1% of American households is significantly higher, ranging from $11.6 million to $13.7 million in net worth for 2025. While a $5 million net worth is above the top 2% mark, it does not reach the top 1%. Thus, the percentage of the U.S. population with $5 million or more is less than 2% but greater than 1%.
As of July 2025, approximately 1.8 million U.S. households hold investable assets ranging from $5 million to under $10 million. These households collectively control a substantial $14.4 trillion in investable assets. Such figures highlight the considerable concentration of wealth at the higher end of the financial spectrum. This segment of the population often employs diversified portfolios, including real estate, private businesses, and alternative investments.
Understanding Net Worth Calculation
Net worth represents a household’s financial standing, calculated as the total value of all assets owned minus all outstanding liabilities. Assets include anything of monetary value a household possesses. These typically include real estate, such as a primary residence or other properties, financial investments like stocks, bonds, and mutual funds, and retirement accounts such as 401(k)s and IRAs. Cash in checking and savings accounts, business interests, vehicles, and certain collectibles also contribute to assets.
Liabilities represent financial obligations or debts. Common liabilities include mortgages, student loans, and credit card balances. Other forms of debt, such as car loans, personal loans, and unpaid bills or taxes, are also factored into the calculation. Standard net worth calculations for wealth surveys do not include intangible assets like human capital or future earning potential.
Sources of Wealth Data and Their Limitations
The most comprehensive source for U.S. household wealth data is the Federal Reserve’s Survey of Consumer Finances (SCF). This triennial survey provides a detailed view of families’ balance sheets, income, and demographic characteristics. Data collection involves interviews with thousands of families, oversampling wealthy households to represent the entire wealth distribution.
Despite its thoroughness, the SCF and similar wealth surveys rely on self-reported information, which introduces limitations. Respondents may not always provide entirely accurate or complete data due to various factors, including memory lapses, a reluctance to disclose sensitive financial details, or a desire to present a more socially acceptable financial picture. Individuals might also struggle to precisely value certain assets, such as private business interests or unique collectibles, leading to inaccuracies. While survey data offers valuable insights, it represents estimates subject to these reporting nuances.
The Broader Wealth Spectrum
A net worth of $5 million stands in sharp contrast to the financial realities of most American households. The median net worth for U.S. families, according to the Federal Reserve’s 2022 data, was approximately $192,900. The average net worth for U.S. households in 2022 was around $1.06 million, a figure skewed higher by the substantial wealth held by a small percentage of the population.
The threshold for entering the top 10% of households by net worth ranges from $970,900 to $1.9 million. Attaining a net worth in the top 25% requires figures between $340,000 and $659,000. A $5 million net worth is significantly higher than the median and average wealth levels, placing it well beyond the top 10% and 25% thresholds. It positions those who possess it among a very small percentage of the wealthiest households in the nation.