How does your spending compare with other Americans’?
The U.S. Bureau of Labor Statistics (BLS) recently released a report detailing consumer expenditures in 2024. In other words, how much U.S. households spent throughout the year and where their dollars went.
On average, households spent $78,535 throughout the year, a 1.8% increase from 2023. For comparison, the average inflation rate in 2024 was 2.9%.
Not all spending is created equal, though. Certain categories — such as entertainment and education — increase or decrease on dramatically different levels. So let’s break down exactly how much American households spent on what in 2024. See how your spending compares as we go.
1. Housing
Average spending in this category: $26,266 per household (which is 33.4% of all spending)
How that amount changed from the prior year: Increased by 3.3%
Household spending encompasses both renters and homeowners. Homeowners spent an average of $9,310 in 2024 (a 7% increase), and renters spent $5,660 (a 5.4% increase).
Spending for “owned dwellings” includes such items as interest on mortgages and home equity loans, property taxes and insurance, property management and security expenses, homeowners and other types of insurance, maintenance, repairs and more. It excludes mortgage principal repayments, though.
2. Transportation
Average spending in this category: $13,318 per household (which is 17% of all spending)
How that amount changed from the prior year: Increased by 1.1%
Transportation spending covers vehicle purchases, gasoline, and public and other transportation spending.
3. Food
Average spending in this category: $10,169 per household (which is 12.9% of all spending)
How that amount changed from the prior year: Increased by 1.8%
There are two things here that the BLS includes under food expenditures: food at home (which includes grocery purchases) and food away from home. Americans spent an average of $6,224 in 2024 on food at home — a 2.8% increase. Food away from home saw a 0.3% increase in 2024 with Americans spending an average of $3,945.
4. Personal insurance and pension contributions
Average spending in this category: $9,797 per household (which is 12.5% of all spending)
How that amount changed from the prior year: Increased by 2.5%
This category encompasses spending on life and other personal insurance and spending on pensions and Social Security, the latter of which includes the subcategories of deductions for private pensions and contributions to retirement plans.
Deductions for Social Security increased 2.7%, and contributions to retirement plans (such as 401(k)s or individual retirement accounts) increased by 3.4%. Spending on life and other personal insurance increased by 5.3%.
5. Healthcare
Average spending in this category: $6,197 per household (which is 7.9% of all spending)
How that amount changed from the prior year: Increased by 0.6%
The category of healthcare spending covers costs for health insurance and for medical services. On average, Americans spent $4,055 on health insurance in 2024 and $1,252 on care.
6. Entertainment
Average spending in this category: $3,609 per household (which is 4.6% of all spending)
How that amount changed from the prior year: Decreased by 0.7%
Entertainment spending includes fees and admissions; pets, toys, hobbies and playground equipment; and other entertainment supplies, equipment and services.
7. Cash contributions
Average spending in this category: $2,292 per household (which is 2.9% of all spending)
How that amount changed from the prior year: Decreased by 3.6%
The BLS defines cash contribution expenditures as cash contributed to persons or organizations outside the consumer unit, such as alimony and child support payments; care of students away from home; and contributions to religious, educational, charitable or political organizations. Their report, however, doesn’t break up spending in each of those subcategories.
8. Apparel and related services
Average spending in this category: $2,001 per household (which is 2.5% of all spending)
How that amount changed from the prior year: Decreased by 2%
In 2024, women’s and girls’ clothing was the costliest expense in this category, followed by men’s, boys’, infants’ and toddlers’ clothing.
9. Education
Average spending in this category: $1,569 per household (which is 2% of all spending)
How that amount changed from the prior year: Increased by 2.2%
Education expenditures include elementary and high school tuition; test preparation and tutoring services; and school supplies and other unspecified costs.
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