See how you stack up against the average American household on monthly expenses. Are you on track with your spending or shelling out more than your peers?

Household size and location a factor

The average of $6,400 a month doesn’t take into account household size.

Using the same data from 2023, a single person spent an average $4,641 a month, while married couples with no children spent $7,390. Meanwhile, the average four-person household (with two kids) spent $8,450 to $9,817, depending on the children’s ages.

Your location has a big impact on how much you spend. Overall, rural living is cheaper. The statistics show that rural American households spent an average $73,967 in 2023, $4,089 less than their urban American peers, who spent $78,056 on average.

One exception is the cost of transportation. Those in urban areas with easy access to public transit spent less on transportation ($12,911 in 2023) than the average $14,295 rural households spent.

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Comparisons can help focus your spending

Remember, these are all averages. Your spending could be higher because of the cost of goods and services where you live. But the big-picture data can help you set realistic spending goals.

Say you live in downtown Philadelphia and have $6,500 in monthly expenses. That’s what the average American household spends in an urban area, so your expenditures are reasonable, even if it seems tough to make ends meet.

But if you’re spending way more than comparable households of similar size and location, look more closely at where your money is going.

Housing costs are big. The Bureau of Labor Statistics data show the average American spent $2,120 on housing, $1,098 on transportation and $832 on food in 2023.

If you’re paying more than $2,120 in rent (e.g., $3,000 a month), you might want to research average rents in your community. It may be that you’re paying more than you need to.

If your lease contract is up for renewal, consider negotiating a fairer price with your landlord or looking for less expensive places to live.

You may also be spending more — or less — money on servicing debt than similarly sized households in your community. Making credit-card and loan payments on time is part of your overall financial health. You might want to pay down your debt faster so you can enjoy lower monthly costs long term.

Even if your spending is under control, make sure you are saving enough for emergencies, retirement and other goals like a down payment on a home.

Knowing where you stand against your peers can help get on track with your personal finances.