The proportion of families in the United States that allocate more than 40% of their income to debt repayment increased from 6.5% in 2022 to 8.6% in 2025, according to the results of the Survey of Consumer Finances (SCF) released by the Federal Reserve on Friday, October 9, 2026.
The increase of 2.1 percentage points indicates that a larger portion of American families faced particularly high payment obligations in relation to their income. This figure corresponds to the situation recorded by the 2025 survey and is not a measurement of family finances in October 2026.
More pressure to pay the debts
The 40% threshold measures the proportion of income allocated to debt payments, such as loan and mortgage installments. It does not mean that the total balance of what a family owes equals 40% of their income: one thing is how much is owed, and another is how much needs to be paid periodically.
According to the official statement from the Federal Reserve, about 77% of families had some debt, a proportion nearly identical to that of the 2022 survey. The median and average amounts of outstanding debt also showed no significant changes between the two measurements, although there was an increase in the proportion of families with very high payments relative to their income.
Another symptom of financial stress is evident in the delays: the 2025 report places the proportion of families who reported being late on some loan payment at approximately 19.6%, compared to 12.2% in the 2022 survey. This indicator is different from the percentage of families that allocate more than 40% of their income to payments.
Median income and wealth are rising, but difficulties persist
The results do not reflect a uniform deterioration in family finances. Between the surveys conducted in 2022 and 2025, the real median family income increased by 7%, reaching $82,200. In contrast, the real average income fell by 6%, down to $145,200. The median divides families into two halves—one with higher incomes and the other with lower incomes—while the average is calculated by summing all incomes and dividing by the surveyed families.
The median net worth also grew, up 2% to $215,900; the average net worth increased by 7%, reaching approximately $1.24 million. Net worth is the value of assets minus liabilities and should not be confused with the cash or available funds each month to cover expenses.
The comparable monetary figures from the study are expressed in dollars adjusted for purchasing power in 2025. Additionally, the incomes reported for the 2025 survey correspond to the calendar year 2024 and are before taxes; in the 2022 survey, the incomes corresponded to 2021.
A national photograph, not a specific data point from Miami or Florida
The SCF is conducted every three years and studies the income, assets, wealth, credit, and financial obligations of families. The research is prepared for the Federal Reserve by NORC at the University of Chicago, using a sample selected from various urban and rural areas across the country. Its results are representative of all families in the United States, but these figures do not allow for specific conclusions about residents of Florida, Miami, or the Cuban community.
The findings provide a different perspective on the decline in consumer confidence among Americans in October, as reported by CiberCuba based on the University of Michigan survey. That poll measures current perceptions and expectations; the SCF analyzes the financial situation of families over a different period and using a different methodology.
The Federal Reserve makes available to the public both the full report on changes between 2022 and 2025 and the tables and data from the survey.
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