Household income and wealth

Dynamic economy that shares prosperity

Metrics

Median equivalised weekly disposable household income
Net worth per household

Why this matters

Income or wealth are the economic resources that households use to buy necessary goods and services for a decent living.

Progress

Median equivalised disposable household income

In 2019-20, the median equivalised disposable household income was $1056 per week (in 2021-22 dollars), compared with $976 in 2007-08 (in 2021-22 dollars).

Supplementary data from the Household, Income and Labour Dynamics in Australia (HILDA) survey shows that between 2019-20 and 2021-22, the median equivalised disposable household income remained similar (from $1,107 to $1,104, in 2021-22 dollars).

Median weekly equivalised disposable household income (a)(b)
	SIH ($)	HILDA ($)
2007-08	976	965
2008-09		1,030
2009-10	960	1,007
2010-11		987
2011-12	1,008	1,020
2012-13		1,027
2013-14	1,024	1,019
2014-15		1,030
2015-16	1,004	1,026
2016-17		1,022
2017-18	1,020	1,037
2018-19		1,076
2019-20	1,056	1,107
2020-21		1,115
2021-22		1,104

Median weekly equivalised disposable household income (a)(b)

["","SIH","HILDA"]

[["2007-08","2008-09","2009-10","2010-11","2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22"],[[975.76774799999998],[null],[960.34929599999998],[null],[1007.70597],[null],[1024.2257400000001],[null],[1004.402016],[null],[1019.820468],[null],[1056.1639620000001],[null],[null]],[[965.23557879999998],[1030.009487],[1006.5962039999999],[987.28509659999997],[1019.833887],[1027.2939980000001],[1019.33823],[1029.5348730000001],[1025.7696780000001],[1021.647712],[1037.127735],[1076.208613],[1107.142278],[1114.691264],[1104.4970410000001]]]

[]

[{"value":"0","axis_id":"0","axis_title":" ","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$","axis_units":"","tooltip_units":"($)","table_units":"($)","axis_min":"0","axis_max":null,"tick_interval":null,"precision":"0","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

(a) In 2021-22 dollars, adjusted using changes in the Consumer Price Index.

(b) HILDA results are from the Household, Income and Labour Dynamics in Australia (HILDA) survey funded by the Australian Government Department of Social Services and managed by the Melbourne Institute.

Data Source

ABS Household Income and Wealth - Table 1.1

Net worth per household

Average net worth per household was $1.46m in 2023, up from $858,600 in 2014 and $530,500 in 2004.

Average net worth per household
	Household net worth as a proportion of series II household projections (a) ('000)
2004	531
2005	567
2006	645
2007	715
2008	712
2009	678
2010	762
2011	774
2012	765
2013	794
2014	859
2015	941
2016	986
2017	1,073
2018	1,097
2019	1,100
2020	1,145
2021	1,332
2022	1,439
2023	1,462

Average net worth per household

["","Household net worth as a proportion of series II household projections (a)"]

[["2004","2005","2006","2007","2008","2009","2010","2011","2012","2013","2014","2015","2016","2017","2018","2019","2020","2021","2022","2023"],[[530.5],[566.89999999999998],[644.79999999999995],[715],[712.39999999999998],[678.29999999999995],[761.89999999999998],[773.70000000000005],[764.70000000000005],[794.39999999999998],[858.60000000000002],[940.70000000000005],[985.89999999999998],[1073],[1096.7],[1100.3],[1144.5999999999999],[1332],[1438.5999999999999],[1462.3]]]

[]

[{"value":"0","axis_id":"0","axis_title":" ","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$'000","axis_units":"","tooltip_units":"('000)","table_units":"('000)","axis_min":"0","axis_max":null,"tick_interval":null,"precision":"0","data_unit_prefix":"$","data_unit_suffix":"","reverse_axis":false}]

(a) Average net worth per household is calculated by expressing June quarter household net worth as a proportion of household projections for the same year using the latest available projections for each year. Sources: National accounts: finance and wealth (Table 35); Household and family projections (Series II).