From soaring housing costs that consume a third of our paychecks to the surprising truth about our grocery carts and the hidden toll of healthcare, a deep dive into the numbers reveals that American spending habits are a story of strain, adaptation, and where we truly choose to put our money.
Key Takeaways
- In 2022, the average U.S. household spent $25,436 annually on housing, accounting for 33.9% of total expenditures
- Housing costs rose 5.2% year-over-year for American consumers in 2023, driven by rent increases
- 43% of U.S. renters spent more than 30% of their income on rent in 2022
- Average U.S. household spent $9,239 on food at home and $3,639 away from home in 2022
- Grocery spending per capita reached $5,703 in 2023, up 6% from prior year
- 37% of U.S. food budget went to meat, poultry, and fish in 2022
- U.S. average vehicle miles traveled per driver was 13,476 in 2022, costing $2,500 in gas
- New car purchases averaged $48,000 per vehicle, with $700 monthly payments in 2023
- 55% of Americans drove alone to work, spending $3,200 yearly on commuting in 2022
- Average healthcare spending per person was $13,493 in 2022
- Prescription drugs cost $1,200 out-of-pocket annually per U.S. adult in 2023
- 28% of Americans skipped medical care due to costs in 2022
- Average U.S. household spent $3,591 on entertainment in 2022
- Streaming services subscriptions cost $60 monthly for multi-service users in 2023
- Apparel spending per capita was $1,700 annually in 2022
Americans spend heavily on housing and food as costs rise across the board.
Food and Dining
- Average U.S. household spent $9,239 on food at home and $3,639 away from home in 2022
- Grocery spending per capita reached $5,703 in 2023, up 6% from prior year
- 37% of U.S. food budget went to meat, poultry, and fish in 2022
- Dining out frequency increased to 4.5 times weekly for millennials in 2023, costing $2,500 yearly
- Organic food sales hit $62 billion, 9% of total grocery spend in 2022
- Alcohol beverage spending averaged $600 per household in 2022
- Fast food accounted for 36% of away-from-home food spending at $1,300 per person in 2023
- Plant-based food purchases rose 27% to $1.4 billion in retail spend 2022
- Coffee and tea spending per household was $400 annually in 2022
- 42% of grocery dollars spent on processed foods in U.S. in 2023
- Average family of four spent $1,500 monthly on groceries in 2023
- Takeout/delivery food orders surged 20% to $150 billion in consumer spend 2022
- Fruits and vegetables comprised 13% of at-home food budget at $1,200 per household 2022
- Low-income households allocated 14% of income to food vs 11% for high-income in 2022
- Pet food spending reached $60 billion, up 8% in U.S. 2023
- Snacks and non-alcoholic beverages cost $800 yearly per person in 2022
- Dining spending by Gen Z grew 15% to $4,000 annually in 2023
- Dairy products averaged $500 per household spend in 2022
Food and Dining Interpretation
Americans are navigating grocery inflation by spending more to eat out and ordering in, all while their organic kale, fast food burgers, and the dog's gourmet kibble engage in a three-way tug-of-war for the family budget.
Healthcare
- Average healthcare spending per person was $13,493 in 2022
- Prescription drugs cost $1,200 out-of-pocket annually per U.S. adult in 2023
- 28% of Americans skipped medical care due to costs in 2022
- Health insurance premiums averaged $7,739 for single coverage in 2023
- Dental care spending reached $2,000 per household yearly in 2022
- Medicare beneficiaries spent $6,000 on premiums and services in 2023
- Mental health therapy costs $150/session, with 20 million seeking annually 2022
- Over-the-counter meds purchased for $400 per household in 2022
- Hospital stays averaged $2,883 daily cost borne by patients in 2023
- Vision care expenses were $500 annually per person using contacts/glasses 2022
- Long-term care insurance premiums hit $3,500 yearly for couples 65+ in 2023
- Emergency room visits cost $2,200 uninsured average in 2022
- Wellness apps and wearables spending grew to $4 billion in 2023
- Cancer treatment out-of-pocket maxed $10,000 for many in 2022
- Chiropractic services averaged $60/visit, $1,000 yearly for regulars 2023
- Fertility treatments cost $15,000 per IVF cycle attempted in 2022
Healthcare Interpretation
We spend astronomical sums chasing health in a system where the cost of care is itself a chronic condition.
Housing and Utilities
- In 2022, the average U.S. household spent $25,436 annually on housing, accounting for 33.9% of total expenditures
- Housing costs rose 5.2% year-over-year for American consumers in 2023, driven by rent increases
- 43% of U.S. renters spent more than 30% of their income on rent in 2022
- Average monthly utility bill for electricity in U.S. homes was $132 in 2023
- Homeowners spent $1,200 on average for home maintenance in 2022
- Mortgage payments averaged 28% of disposable income for U.S. households in Q4 2023
- 15 million U.S. households faced severe housing cost burden in 2022, spending over 50% on housing
- Natural gas utility spending per household increased 12% to $700 annually in 2022
- Renters under 35 spent $18,500 yearly on housing in 2022
- Water and sewer utility costs averaged $1,000 per year per U.S. household in 2023
- 52% of U.S. households paid over $1,500 monthly for housing in urban areas in 2023
- Furnishings and equipment spending for homes averaged $682 per household in 2022
- Property taxes consumed 1.1% of U.S. GDP in 2022
- Average homeowner insurance premium rose to $1,700 annually in 2023
- Multi-family rental spending grew 7% to $2.1 trillion nationally in 2022
- 28% of low-income households skipped utilities to afford rent in 2023
- Telecom services (cable/internet) cost $1,500 per household yearly in 2022
- Housing affordability index fell to 98.2 in 2023 for median U.S. family
- Seniors over 65 spent $14,200 on shelter annually in 2022
- 11% increase in U.S. home flipping costs averaged $80,000 in renovations in 2023
Housing and Utilities Interpretation
In 2023, the American dream became a high-stakes subscription service where the rent's relentless rise forces a cruel math, leaving millions to choose between keeping the lights on or keeping a roof overhead.
Retail and Entertainment
- Average U.S. household spent $3,591 on entertainment in 2022
- Streaming services subscriptions cost $60 monthly for multi-service users in 2023
- Apparel spending per capita was $1,700 annually in 2022
- Movie theater tickets averaged $10.78, with $2 billion box office per capita spend 2023
- Online retail e-commerce hit $1 trillion, 15% of total retail sales in 2022
- Toys and games purchases reached $38 billion holiday spend in 2023
- Jewelry and watches cost $500 per household yearly in 2022
- Gambling expenditures totaled $66 billion in U.S. casinos 2023
- Sporting events tickets averaged $100, $1 billion league-wide fan spend 2022
- Video game software sales $60 billion, hardware $20 billion in 2023
- Footwear spending grew 4% to $90 billion nationally in 2022
- Books and magazines cost $150 per avid reader annually 2023
- Hobbies and recreation equipment $800 household average 2022
- Luxury goods retail sales up 10% to $120 billion in 2023
- Pet supplies non-food reached $30 billion spend in 2022
- Concert tickets averaged $120, total live music $30 billion 2023
- Cosmetics and toiletries $400 per woman yearly in 2022
- Home entertainment electronics $1,200 purchase cycle every 5 years 2023
- Craft beer retail $28 billion, 20% of alcohol market 2022
Retail and Entertainment Interpretation
Between streaming our shows, dressing for the outing, buying the ticket, and sipping a craft beer while we complain about the price, the American economy is now a meticulously curated subscription to our own lifestyle.
Transportation
- U.S. average vehicle miles traveled per driver was 13,476 in 2022, costing $2,500 in gas
- New car purchases averaged $48,000 per vehicle, with $700 monthly payments in 2023
- 55% of Americans drove alone to work, spending $3,200 yearly on commuting in 2022
- Ride-sharing spend hit $30 billion in U.S., up 25% in 2023
- Gasoline expenditures per household were $3,000 in 2022 amid high prices
- Public transit fares cost $800 annually for users in 2022
- Vehicle maintenance and repairs averaged $1,200 per car yearly in 2023
- Electric vehicle charging costs $500 yearly vs $2,000 gas for average driver 2023
- Airfare spending per household reached $1,200 in 2022 post-pandemic recovery
- Car insurance premiums averaged $2,014 annually per policy in 2023
- Toll payments totaled $15 billion across U.S. drivers in 2022
- Used car average price was $27,200, with financing at 7% interest in 2023
- 12% of transport budget went to vehicle purchases at $9,000 per household 2022
- Biking and walking commuters saved $1,000 yearly in costs per person 2023
- Freight shipping costs impacted consumer goods by 5% price hike 2022
- Rideshare users spent $150 monthly on average in urban areas 2023
- Parking fees averaged $1,000 yearly for city dwellers in 2022
Transportation Interpretation
Americans have become masters at spending thousands to sit alone in traffic, repeatedly buying themselves the most expensive waiting rooms on wheels.
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