Total net worth for families increased in 2019 to 5,176 billion ISK, a 9.1% increase from the previous year. This is a smaller increase than in recent years, except for the year 2013. Assets increased about 8.6%, while liabilities increased about 7.3%.

Total assets were about 7,442 billion ISK at the end of 2019 compared with 6,855 billion ISK at the end of 2018, which is an 8.6% increase between years. Assets consist of real estate, vehicles, deposits and securities. The share of real estate was 75.9%, vehicles 4.3%, deposits 11.1% and securities 7.5%. These figures are similar compared with the year 2018. The first asset decile owns in total 3,267 billion ISK or 43.9% of total assets which is a similar proportion as 2019 (44.9%).

Total debts were 2,266 billion ISK at the end of 2019 and increased by 7.3% from the previous year. Debts are defined as all of the family’s debts, including mortgage debts, vehicle loans, student loans overdrafts and credit card loans. Total debts of families in the highest 10th decile were around 882 billion ISK or 38.9% of total debts.

About liabilities and assets of individuals
Statistics Iceland publishes yearly data on liabilities and assets from annual tax returns. When comparing sums it should be noted that the number of taxpayers increased between the years 2017 and 2018 and that the average consumer price index has increased by 2.7%. All values are in current prices.

Family is made up of co-taxed individuals and children under the age of 16 registered at the same address. The family type can therefore deviate significantly from family type in the National Register, as a couple need not be taxed together. Young taxpayers are registered as individuals with their own family number from the age of sixteen and are identified as independent individuals even though they still live in parents' homes. The age of a family is based on the oldest family member.