From Home Furnishing Business
FastFact: Percentage of Income Spent on Furniture Holds Steady
The percentage of income spent on furniture and related equipment varies little among U.S. households, despite a wide range of household incomes, according to data from the Consumer Expenditure Survey by the Bureau of Labor Statistics.
The survey showed that households with incomes of less than $20,000 spend 2.6 percent of their income on furniture and related products, while the top 20 percent of U.S. households – those with incomes of $105,000 and above – spend just 3.3 percent.
The 3.3 percent figure also is valid for households with incomes of $38,000 to $63,800, according to the survey.
For a detailed look at the numbers, click here.