Hispanic consumer spending grew 64.7% from 2012 to 2024, outpacing the national average
Source: BLS Consumer Expenditure Survey 2024
Between 2012 and 2024, Hispanic consumer units increased their average annual expenditure from $42,326 to $69,700 — a growth rate of 64.7%. During the same period, all consumer units grew spending by 50.2%, from $51,442 to $77,280.
This 14.5 percentage-point gap highlights the accelerating economic influence of Hispanic households in the United States. Key spending growth areas include housing (+68%), food at home (+42%), and transportation (+55%).
The data underscores a clear opportunity for brands targeting Hispanic consumers: this demographic is not only growing in size — 66.3 million as of 2023 — but its spending power is outpacing the broader market.