Updated 25 October 2026
Quick answer on US minimum wage: In the United States in 2026, the minimum wage is $7.25/hour (about $1,257 a month full time); an average earner keeps 76% of their pay after income tax and social security; mortgage rates are about 7.32%; household electricity costs 18.3¢ per kWh; petrol is $4.28/gal, up 45.9% since February. The table below puts 10 everyday money measures for the United States side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Against the other countries in our data, the United States stands out here: its mortgage rate, 7.32% (30-year fixed, 22 Oct 2026), is the 3rd highest of 31 countries; its household electricity price, 18.3¢/kWh (≈ $0.18), is the 6th lowest of 33 countries. It sits nearer the middle for minimum wage, tax on an average wage and 2027 pay-rise forecast.
The United States at a Glance
| Measure | United States | Rank |
|---|---|---|
| Minimum wage | $7.25/hour (≈ $1,257/month) | 16th highest of 38 |
| Tax on an average wage | 24.3% (keeps 76%) | 16th lowest of 38 |
| Pay rise forecast 2027 | 3.4% (inflation 3.7%) | 14th highest of 29 |
| Mortgage rate | 7.32% (30-year fixed, 22 Oct 2026) | 3rd highest of 31 |
| Electricity (household) | 18.3¢/kWh (≈ $0.18) | 6th lowest of 33 |
| Petrol price | $4.28/gal (+45.9% since Feb) | Lowest of 29 |
| State pension age | 67 | Highest of 39 |
| Pension (share of pay) | 51.3% of net pay | 13th lowest of 50 |
| Bank deposit protection | $250,000 per person, per bank | — |
| Inheritance tax (children) | top rate 40% | — |
Rank compares the United States with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in the United States (2026)
The legal minimum wage in the United States is $7.25/hour. For a month of full-time work that is about $1,257 at current exchange rates, 16th highest of 38 countries in our comparison. $7.25 an hour, unchanged since 2009; 30 states and DC set higher rates, up to $17.13 in Washington state.
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Income Tax and Take-Home Pay in the United States
A single worker on the average wage in the United States (about $74,000 at purchasing-power parity) pays 24.3% of gross pay in income tax and employee social security, so they keep 76%. That is 16th lowest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 24.3% of pay at the average wage, 21.4% at two-thirds of it and 29.2% at 1.67 times it. Including employer contributions, the total tax wedge is 30.0% of labour costs.
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Pay Rises in the United States: 2027 Forecast
Employers in the United States expect to raise salaries by 3.4% in 2027 (median of the major pay surveys), after 3.4% in 2026. With inflation at 3.7% (Sep), that is a real cut of about 0.3 points unless inflation falls.
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Mortgage Rates in the United States (2026)
The typical mortgage rate in the United States is 7.32% (30-year fixed, 22 Oct 2026), 3rd highest of 31 countries.
Freddie Mac average; up from 5.98% in late February. Per $100,000 over 30 years: $687 a month.
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Electricity Prices in the United States
Households in the United States pay about 18.3¢ per kWh of electricity (about $0.18), 6th cheapest of 33 countries. Basis: National average, July 2026.
EIA average residential price, up 4.9% on a year earlier; ranges from about 11¢ to over 40¢ by state.
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Petrol Prices in the United States Since the Iran War
Petrol in the United States costs $4.28/gal (week of 19 October 2026), up 45.9% from $2.94/gal in the week before the Iran war began. It peaked at $4.50/gal (11 May). At about $1.13 a litre it is the cheapest of 29 countries we compare, and the rise is the largest of 29 countries we compare.
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Retirement Age in the United States
The state pension age in the United States is 67 for people reaching it in 2026; the earliest you can claim is 62 (reduced). Future change: none legislated. Full retirement age is 67 for anyone born in 1960 or later. Each year you delay up to 70 adds 8% to the benefit.
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How Much the State Pension Pays in the United States
A full-career average earner in the United States can expect a mandatory pension worth about 51.3% of their previous net pay, 13th least generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 62%. High earner (twice the average): 40%. Including common voluntary private pensions, an average earner would get 101%.
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How Much of Your Money Is Protected in the United States
Bank deposits in the United States are protected up to $250,000 per depositor, per bank, under the FDIC scheme. Per ownership category; joint and retirement accounts insured separately. Money in payment apps and e-money wallets is usually not covered.
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Inheritance Tax in the United States
The United States has federal estate tax. Children can receive $15 million per person tax-free, and the top rate for children is 40%, 5th highest of 28 countries. Exemption made permanent and indexed by the 2025 tax law; about a dozen states and DC add their own estate or inheritance taxes.
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The United States vs Brazil, Canada and Mexico
The same measures for the United States and its nearest neighbours in our data, side by side.
| Measure | The United States | Brazil | Canada | Mexico |
|---|---|---|---|---|
| Minimum wage | $7.25/hour (≈ $1,257/month) | R$1,621/month (≈ $321/month) | C$18.15/hour (≈ $2,248/month) | MX$315.04/day (≈ $510/month) |
| Tax on an average wage | 24.3% (keeps 76%) | — | 25.6% (keeps 74%) | 13.2% (keeps 87%) |
| Pay rise forecast 2027 | 3.4% (inflation 3.7%) | 4.5% | 3.2% (inflation 3.1%) | 4.9% |
| Mortgage rate | 7.32% (30-year fixed, 22 Oct 2026) | 11.19% (Caixa lowest rate, 2026) | 5.14% (5-year fixed, big bank, Oct 2026) | 10.8% (bank fixed rates, 2026) |
| State pension age | 67 | 65 men / 62 women | 65 | 65 |
| Pension (share of pay) | 51.3% of net pay | 97.5% of net pay | 45.1% of net pay | 79.6% of net pay |
| Bank deposit protection | $250,000 per person, per bank | R$250,000 per person, per bank | C$100,000 per person, per bank | 400,000 UDIs (≈ MX$3.5m) per person, per bank |
| Inheritance tax (children) | top rate 40% | top rate 8% | None | None |
Compare the United States With Other Countries
See every country side by side in Compare Countries 2026: Wages, Tax, Mortgages and Pensions, or compare the United States with nearby countries in our data: Brazil, Canada and Mexico.
Related Guides
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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