From Home Furnishing Business
FastFact: High-Income Households Pace Home Furnishings Spending
Households in the top 20 percent of household income spend nearly 45 percent of disposable income on home furnishings and related equipment, according to data from the Bureau of Labor Statistics.
The bureau’s annual Consumer Expenditure Survey showed that households with income above $105,600 – the top quintile of U.S. households – spend 44.1 percent of their disposable income on home furnishings and related equipment.
Households in the second 20 percent – those making $63,800 to $105,600, spent 21.5 percent of their disposable income on furniture, according to the survey.
The bottom quintile – households with income under $20,000 annually – spend just 6.3 percent of disposable income on furniture.
For a detailed look at the numbers, click here.