Median Bank Balances Reveal Wide Gaps by Age and Education

The median bank balance for Americans varies significantly by age, household type, and education level. According to the Federal Reserve's Survey of Consumer Finances, households under 35 have a median balance of $5,400, while those between 65-74 have a balance of $13,400.

Couples tend to keep more money in their bank accounts than singles, with a median balance of $16,000 for couples without children. College-educated households also report substantially higher balances, with high school graduates having over three times the median savings of those without a diploma.

The Federal Reserve found that 98% of Americans across every age group reported having money in bank accounts, but median balances varied significantly by age and household type.