Average Net Worth by Age in the UK (2026): See How You Compare

Net worth is the total value of what you own minus what you owe, including property, pensions, savings, and debts.

According to the finance experts at psyfi money, understanding this figure is essential for judging long term financial progress rather than short term income.

This guide shows the average and median net worth by age in the UK in 2026, using the latest official data so you can see how you compare at each life stage.

As finance expert at psyfi money, Michele Tieghi, explains, averages can be misleading, which is why this guide focuses on typical outcomes and the sharp wealth differences that exist between age groups and households.

What is the average net worth in the UK right now?

The average net worth in the UK right now depends on whether you look at households or individuals. The median household net worth is £293,700, based on the ONS Wealth and Assets Survey covering April 2020 to March 2022, which remains the most comprehensive official measure of UK wealth available.

At an individual level, median net worth is much lower at around £125,000, reflecting the fact that households usually combine multiple incomes, properties, and pensions. Wealth is heavily age-dependent, peaking at £502,500 for households aged 65 to 74, while the youngest households hold just £15,200.

Although the ONS paused accreditation of the survey in June 2025 due to quality issues at more detailed levels, the headline figures are still the best benchmark for understanding UK net worth today.

What is the average net worth by age in the UK?

UK household net worth rises steadily with age, peaks between 65 and 74, then falls slightly in later life. Median wealth reaches £502,500 at its highest, compared with just £15,200 for ages 16 to 24, reflecting decades of earnings, property ownership, and pension saving before assets are gradually drawn down in retirement.

UK median household wealth by age group:

16 to 24: £15,200 - Early working years with limited savings and assets.
25 to 34: £109,800 - Career progression and first home purchases begin.
35 to 44: £209,600 - Property equity builds alongside higher family costs.
45 to 54: £301,900 - Peak earning years with faster pension growth.
55 to 64: £496,500 - Near-peak wealth as mortgages are reduced or cleared.
65 to 74: £502,500 - Highest median wealth during early retirement.
75+: £373,100 - Wealth declines as pensions and savings are drawn down.

Key takeaway:Wealth typically builds throughout working life as property and pension values grow, then declines modestly in later years as households start spending accumulated assets rather than adding to them.

What does net worth typically look like in your early 30s?

Households aged 25 to 34 have a median net worth of £109,800, based on ONS data, though the range is wide. Those who have entered the property market usually hold most of their wealth in home equity, while renters often have much lower net worth at this stage.

In the early 30s, progress was less about hitting a number and more about laying foundations. Building emergency savings, securing full employer pension matches, and starting to invest through a Stocks and Shares ISA can have an outsized impact later, even with student loans and high housing costs in play.

How does net worth usually change by your 40s?

By ages 35 to 44, median household net worth increases to £209,600, nearly double that of the previous age group. Property equity becomes a central driver of wealth, with mortgages gradually converting monthly payments into ownership.

This decade often marks faster financial momentum. Earnings typically rise, earlier investments begin to compound more noticeably, and retirement planning becomes more structured. Although family expenses can still be significant, assets often start growing faster than debts.

What happens to net worth in your 50s and later years?

Among households aged 55 to 64, median net worth climbs to £496,500, approaching its lifetime high. It peaks at £502,500 between 65 and 74, reflecting long term accumulation across pensions, property, and savings.

After 75, median net worth falls to £373,100 as households move into the drawdown phase. Pension wealth is converted into income, savings are spent, and property may be downsized. This shift is expected and reflects wealth being used to fund retirement rather than continue growing.

What is the average household net worth by region in the UK?

Household net worth varies sharply across the UK, with southern regions holding far more wealth than the North and devolved nations. The South East has the highest median household net worth at £489,800, compared with just £179,900 in the North East, creating a gap of nearly £310,000, based on ONS data from 2020 to 2022.

UK median household net worth by region:

South East: £489,800 - Highest household wealth in the UK, driven largely by long term house price growth.
East of England: £390,500 - Strong property values and high home ownership rates underpin wealth levels.
South West: £352,400 - Property wealth plays a major role, supported by older household demographics.
East Midlands: £282,300 - Close to the UK median, with a balanced mix of property and pension wealth.
West Midlands: £251,200 - Slightly below the national median, reflecting lower average property values.
London: £226,200 - Lower than expected due to high renter concentration and younger households.
Yorkshire and the Humber: £215,800 - Below the UK average, with slower historical house price growth.
North West: £212,900 - Similar profile to Yorkshire, with wealth concentrated among homeowners.
Scotland: £208,100 - Lower median property values and different housing tenure patterns.
Wales: £203,100 - Wealth levels modestly below the UK median, with fewer high value properties.
North East: £179,900 - Lowest median household wealth, reflecting lower home ownership and pension participation.

Source: ONS Wealth and Assets Survey, April 2020 to March 2022

Why do some regions have much higher net worth than others?

Regional wealth gaps are driven primarily by property market divergence since the 1990s, alongside differences in employment opportunities, wage levels, and inherited wealth. Regions with sustained house price growth have converted mortgage repayments into large amounts of equity, while areas affected by industrial decline have fallen behind.

The ONS notes that the North East has seen real terms wealth decline since the mid 2000s, while southern regions have continued to accumulate wealth, widening the gap over time.

How to interpret regional net worth figures

These figures represent median household wealth, not individual wealth. A household may include multiple adults and combined assets, so personal net worth is typically lower. Asset mix also varies by region, with property making up a much larger share of wealth in the South than in northern regions, where pensions and savings play a relatively bigger role.

How is net worth calculated?

Net worth is calculated by subtracting everything you owe from everything you own. This simple calculation gives a clear snapshot of your overall financial position at a specific point in time.

The net worth formula

Assets − liabilities = net worth

Assets are items you own that have a cash value.
Liabilities are debts or financial obligations you still need to repay.

What counts as assets?

Assets include all economic resources you own, such as:

Property wealth: Your main home and any additional properties, valued at current market prices.
Pension wealth: Workplace pensions, personal pensions, and SIPPs. The state pension is not included.
Financial assets: Savings accounts, ISAs, shares, funds, bonds, and other investments.
Physical assets: Vehicles, jewellery, art, antiques, and other valuable possessions.

According to ONS data, UK household wealth is mainly made up of property at 40%, pensions at 35%, financial assets at 14%, and physical assets at 10%.

What counts as liabilities?

Liabilities include all outstanding debts, such as:

Mortgages and buy to let loans
Personal loans and car finance
Credit card balances
Student loans
Any other money owed to lenders or institutions

Example net worth calculation

Suppose you have:

£10,000 in savings
£100,000 in pensions
A home worth £500,000
A remaining mortgage of £250,000

Your total assets equal £610,000.
Your total liabilities equal £250,000.

Your net worth is £360,000.

Why net worth matters

Net worth shows more than income alone. It reflects long term financial progress, resilience, and security. Tracking it annually or quarterly helps highlight whether assets are growing faster than debts and where improvements can be made, such as reducing high interest borrowing or increasing pension and investment contributions.

How does the UK net worth compare to the US?

UK and US net worth levels are broadly similar, but median wealth by age is often higher in the UK, especially from midlife onwards. The median US household net worth is $192,900, around £153,000, which is close to UK benchmarks once exchange rates and survey differences are considered.

Under 35: UK ~£62,500 vs US ~£31,000
35 to 44: UK £209,600 vs US ~£108,000
45 to 54: UK £301,900 vs US ~£197,000
55 to 64: UK £496,500 vs US ~£291,000
65 to 74: UK £502,500 vs US ~£328,000
75+: UK £373,100 vs US ~£268,000

Key takeaway: UK households typically build more median wealth through property ownership and automatic pension enrolment, while higher healthcare costs and wider inequality in the US distort average figures. For meaningful comparisons, median net worth provides a clearer picture than averages.

Conclusion

Net worth in the UK varies widely by age, region, and asset mix, but the data shows clear patterns. Wealth typically builds through property ownership and pensions, peaks around retirement age, then gradually declines as assets are used. Regional gaps remain significant, largely driven by long term housing market differences.

According to the finance experts at psyfi money, understanding how net worth changes over time is less about hitting a single number and more about tracking progress and building sustainable assets.

As finance writer Michele Tieghi notes, net worth is best viewed as a long term framework for decision making, not a short term scorecard, especially in a country where pensions and property play such a central role.

FAQs

What net worth is considered rich in the UK?

In the UK, a net worth of around £1 million is widely considered the threshold for being rich. This level typically places a household within the top 10% of the wealth distribution, although perceptions of 'rich' vary by region due to large property price differences, especially between London and the rest of the UK.

What is the average age of a millionaire in the UK?

The average UK millionaire is typically in their mid to late 50s. Most reach millionaire status after decades of property ownership, pension accumulation, and long term investing, rather than through income alone.

How many people in the UK have a net worth of £1 million?

Around 2.7 to 3 million people in the UK are estimated to have a net worth of £1 million or more, including property and pensions. This represents roughly 4 to 5% of the adult population, based on ONS and wealth distribution estimates.

How much wealth puts you in the top 5% in the UK?

To be in the top 5% of UK households, net worth is typically £1.2 million to £1.5 million or higher. This threshold is strongly influenced by housing equity and pension wealth rather than liquid cash.

How wealthy is the average British person?

The median individual net worth in the UK is around £125,000, which provides a more realistic picture than averages skewed by the very wealthy. At a household level, median net worth rises to £293,700, reflecting combined assets such as property and pensions.

About the author: Ivana Babic is a content strategist and B2B SaaS copywriter, specializing in creating compelling and conversion-driven content for businesses.