Net Worth If You’re Single: How To Tell if You’re Poor, Middle Class, or Rich

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It’s normal to want to compare yourself to others, but if you’re single in America, it’s not always straightforward to say whether you’re poor, middle class, upper-middle class, or rich.

If looking at median income alone, the average nonfamily household in the US — which can include single-person households and those living with non-relatives — is $45,440 (as of 2022), according to the U.S. Census Bureau.

When looking at net worth, however — in terms of assets minus debts — many single people, particularly young women, have not built up much wealth yet. So, if you’re strictly comparing yourself to others in your demographics, you might be at the median, but that doesn’t necessarily mean you feel middle class.

How Do You Stack Up in Terms of Wealth?

According to the Census Bureau, the overall value of household wealth by percentile (in 2021) includes the following:

Lowest 10th percentile: $0

25th percentile: $16,560

50th percentile: $166,900

75th percentile: $604,900

Highest 90th percentile: $1,623,000

Single vs. Married: Does it Matter?

If you’re single, though, it’s not a matter of just dividing these numbers in half. The differences between married and unmarried individuals can be stark, often because of factors such as home ownership and retirement accounts. Age and gender also play a big role.

For those under 35, for instance, unmarried males have a median net worth of $27,620 and unmarried females have a median net worth of $9,390. Yet married couples in this age group have a median net worth of $86,430.

So, if you’re a single female under 35 with a net worth of $40,000, in some sense you might be rich in terms of comparing yourself to the median of your peers, as you’d have more than four times the median net worth.

But this would be less than half the median net worth of a married couple, so you might not feel very wealthy or have the buying power to accomplish financial goals like putting a down payment on a home (depending on real estate costs in your area).

Thus, rather than looking at net worth numbers, a better way to tell whether you’re poor, middle class, upper-middle class, or rich could be to see how easy (or hard) it is to accomplish foundational financial goals. According to a recent Washington Post survey, around 90% of Americans believe you need the following to be middle class:

• Steady employment.
• The ability to save for the future.
• The ability to afford $1,000 in emergency expenses.
• The ability to pay all your bills on time without worrying.
• Health insurance.
• The ability to retire comfortably.

So, if you meet all six of these criteria, regardless of your exact net worth, you might be middle class and feel like you’re in that group.

The Washington Post survey also found that 60% said the ability to own a home makes you middle class. Considering that’s not as common of a response as those other six areas — and since homeownership rates are higher for married couples — then maybe being able to buy a home as a single person is more of a sign that you’re upper-middle class or higher.

Lastly, the Washington Post survey found that 46% said having the ability to eat at a restaurant whenever you want is considered middle class. But since that’s an even less common response and could be considered a luxury, perhaps having this ability is more of a sign that you’re upper-middle class or rich, depending on how freely you can enjoy this type of carefree spending.

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