While most Americans say they are still managing financially, a growing number of younger consumers, lower-income households, and African-American adults are showing signs of financial strain, according to the Federal Reserve’s latest Survey of Household Economics and Decisionmaking.
The report found that 73% of adults said they were either “doing okay financially” or “living comfortably” in 2025, unchanged from the prior year. But beneath the headline number, the data pointed to widening gaps in financial stability across demographic groups.
Among African-American adults, just 60% reported they were doing okay financially or living comfortably, down from 65% a year earlier. Financial well-being among adults ages 18-29 also declined, with only 63% reporting financial stability.
The report highlighted mounting pressure on younger consumers in particular. Fifteen percent of adults under 30 said they were not working because they could not find a job, three times the rate seen among adults age 30 and older. Nearly half of adults under 30 also reported living with their parents in 2025, up 12 percentage points from 2019.
Inflation and higher living costs continued to weigh heavily on household finances. More than 9 in 10 adults said price increases remained a financial concern, and 58% said rising prices made their financial situation worse over the past year. Lower-income consumers were especially affected, with 66% of households earning less than $50,000 saying price increases were a major concern.
Housing stress also increased. Twenty-three percent of renters reported falling behind on rent at some point during the past year, up from 21% in 2024 and up six percentage points since 2021.
The survey also showed consumers remain financially fragile in other areas. Sixteen percent of adults said they did not pay all of their bills in the prior month, while 26% skipped medical care because of cost. Twenty-three percent of adults with student loans reported recent payment difficulties.
At the same time, concerns about employment increased. Forty-two percent of adults said finding or keeping a job was a financial concern, up from 37% in 2024, reflecting what the Fed described as a “solid but softening labor market.”
