The median net wealth of households in Finland was 96,000 euros in 2023, according to data released on Wednesday by Statistics Finland.
This is down from 121,300 euros in the previous survey, conducted in 2019, a drop of some 20 percent when factors such as inflation are taken into account.
The median refers to the middle value of a group of numbers, meaning that half of Finnish households have a net worth greater than 96,000 euros, with the other half having less than that figure.
The net wealth figure is calculated by adding up a household's assets — for example cash, car, real estate — and subtracting the household's liabilities — such as credit card debt or mortgage.
While median net wealth has fallen, Statistics Finland's study found that the average net worth — referring to the wealth of all households divided by the number of households — stood at 229,000 euros in 2023, or more than double the median.
These trends imply there is a growing disparity between Finland's high-income and low-income households.
"One-quarter of households had a net wealth of over 272,100 euros and one quarter under 8,100 euros in 2023. Households of persons aged over 54 were the wealthiest," the agency's report stated.
The report further noted that the wealthiest 10 percent of households in Finland now account for more than half of the total net wealth. This is the first time this has happened in Finland in record-keeping history.
By contrast, the poorest 50 percent of households own only four percent of net wealth.
"While the wealth share of the wealthiest 10 percent has increased with each survey, in other deciles the trend has been going downward practically all the time," Tara Junes, a senior statistician at Statistics Finland, said.
According to the data, Finland's wealthiest 10 percent had a net worth of around 550,000 euros in 2023, while the poorest 10 percent had more debt than assets.
Junes added that fluctuations in the housing market are one of the main reasons behind the decline in net wealth.
"The median value of one's own main dwelling has decreased compared to 2019, while the trend in housing loans has been upwards," she said.
Users with an Yle ID can leave comments on our news stories. You can create your Yle ID via this link. Our guidelines on commenting and moderation are explained here.
