Key facts
- More than 45% of U.S. households couldn't afford basic necessities in 2024.
- Housing, healthcare, and childcare are major structural expenses families cannot easily cut.
- 60% of adults lack sufficient income for their desired lifestyle.
- 53% of adults lack a three-month emergency fund.
- 27% of adults struggle to pay all monthly bills.
Inflation has made basic goods hard to afford, with close to half of American families unable to cover necessities in 2024, according to a new report from the Brookings Institution. Consumer prices in May were up 4.2% from a year ago, exacerbating financial strain.
Siara Mims, a chiropractic technician in Raleigh, North Carolina, earns about $47,000 annually but still struggles to cover bills, including rent and healthcare costs, relying on food pantries. She is not alone, as the Brookings report indicates that more than 45% of U.S. households faced similar challenges in 2024.
A Pew Research Center survey conducted in August 2026 found that 60% of U.S. adults feel they do not have enough income to lead the life they want, and 53% lack a three-month emergency fund. Additionally, 27% of adults cannot pay all their monthly bills, and 32% worry daily about healthcare costs and debt.