Highest net worth among people in their 60s
Income and consumption
ifformue, Households' income and wealth, household income, household type (for example single, couples with children, couples without children), wealth, debt, capital accounts, bank deposits, student loanIncome and wealth, Income and consumption

Households' income and wealth2011



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Highest net worth among people in their 60s

The average net worth for Norwegian households was NOK 1.8 million in 2011. Households where the main income earner was in their 60s have the highest average net worth.

When the assessed tax value of dwellings is substituted with the assessed market value (see text box), the mean net wealth of all households was NOK 1 827 000 in 2011. The net worth of Norwegian households grew by 6 per cent from 2010 to 2011, primarily due to a strong rise in house prices. Households where the main income earner is aged 65-69 is the group with the highest average net worth. In 2011, this age group had on average NOK 3.1 million in net worth, while the median net worth was NOK 2.3 million. Households headed by someone in their 70s also had a median net worth of at least NOK 2 million in 2011.

Net wealth based on assessed market value of dwellings, by age of the main income earner of the household. Mean and median. 2011

Private homes the principal asset

On average, dwellings make up two thirds of households’ total assets in 2011, while 27 per cent are made up of financial assets. For younger households (25-35 year-olds), dwellings constitute as much as 80 per cent of total assets.

Increase in liabilities

On average, all households had NOK 1 048 000 in debt in 2011. This was an increase of 5.7 per cent from the previous year. Households with the highest income saw the strongest rise in debt in 2011, while households at the bottom of the income distribution had a more modest increase in average debt.

In 2011, liabilities corresponded to 36 per cent of the households’ total assets; the same proportion as the year before.

More people are facing a high debt to income ratio. In 2011, 14.6 per cent of all households had a debt that was three times larger than their income. This was up from 14.3 per cent in 2010.

Assessed market value of own dwelling

The values for private dwellings are based on a model developed by Statistics Norway where house prices are calculated for all dwellings based on the actual selling price of a majority of dwellings sold on the private market. Data from this model is currently used by the Directorate of Taxes when assessing tax values for the principal residence and other private dwellings. In the Tax Return, the principal dwelling is assessed at a value of 25 per cent of the assessed market value, while other private dwellings are valued at 40 per cent of market value. In the wealth statistics, the full market price is applied. Further information on the wealth statistics can be found here .

Underlying data

As of 2004, the household income statistics are based solely on register data, including all persons in private households living in Norway at the end of the year. Persons in student households are not included. In addition to registered cash income received by households, the statistics also include debt and wealth registered in the tax assessment. See " About the statistics " for more information .