SmartAsset and chof360 Finance LLC may earn commission or revenue through links in the content below.
Across the United States, the median household net worth is estimated to be $187,690. Net worth includes the assets a household has – minus debts – and gives a general estimate of a home's relative wealth and financial profile. It includes the value of home equity, balance of deposit accounts such as checking and savings, retirement savings and potentially other items of value. Nearly 60% of households in the U.S. have a net worth of $100,000 or more after accounting for debts, with 29.2% having a net worth of $500,000 or more. But the average net worth varies widely from state to state.
With this in mind, SmartAsset examined the latest net worth data and account balances across the U.S. to determine the median financial profile of households in each state.
Hawaiians have the highest net worth at over $500,000. The median net worth in Hawaii including home equity is $502,563 in 2024 dollars. This is 20% more than the median net worth in second-place Washington state ($398,881). Hawaiians also have the highest median retirement savings at $159,510 and the highest median balance in deposit accounts at $43,499.
New Jersey residents have some of the highest retirement and emergency fund savings. Despite ranking ninth overall for highest net worth, New Jersey residents rank second only to Hawaii in deposit accounts with a median balance of $21,268. For retirement savings, New Jersey ranks third overall with an average of $137,179.
80% of Maine households have home equity. Maine has the highest prevalence of home equity included in their net worth calculation. The median homeowner has $212,680 in equity. Overall, Maine ranked fourth-highest net worth at a median $326,570. Meanwhile, only 49.6% of households in New York have home equity to count, the lowest nationwide.
Maryland households have the most retirement accounts. Across the nation, an average 60.3% of households have tax-advantaged retirement accounts such as 401(k)s or IRAs. In Maryland, that number is 75%. The median balance across these accounts in this state is $108,467 per household. Maryland ranks sixth for highest net worth overall at $323,912.
Households in this state have the lowest net worth. Louisiana households have a median net worth of only $76,458, less than half of the U.S. median. This includes a median $47,640 in retirement accounts and $6,061 in deposit accounts. Louisiana has the most households with a net worth under $100,000 at 54.4%.
Arkansas households have the lowest retirement savings. Retirement accounts here have a median household balance of $40,303, compared to the U.S. median of $79,755 across retirement accounts. Overall, the median net worth in Arkansas is the fourth-lowest nationwide at $99,407.
Story Continues
States are ranked by the median household net worth.
Hawaii
Median net worth: $502,563
Median retirement savings: $159,510
Median deposit account balance: $43,599
Median home equity: $531,700
Median equity in vehicles: $22,704
Households with net worth of $1 to $24,999: 8.9%
Households with a net worth of $25,000 to $99,999: 4.4%
Households with a net worth of $100,000 to $499,999: 30.8%
Households with a net worth of $500,000 or more: 48.1%
Washington
Median net worth: $398,881
Median retirement savings: $116,974
Median deposit account balance: $19,035
Median home equity: $376,444
Median equity in vehicles: $17,971
Households with net worth of $1 to $24,999: 11.9%
Households with a net worth of $25,000 to $99,999: 9.8%
Households with a net worth of $100,000 to $499,999: 28.3%
Households with a net worth of $500,000 or more: 43.0%
Massachusetts
Median net worth: $327,953
Median retirement savings: $152,066
Median deposit account balance: $17,387
Median home equity: $345,605
Median equity in vehicles: $18,078
Households with net worth of $1 to $24,999: 17.4%
Households with a net worth of $25,000 to $99,999: 8.1%
Households with a net worth of $100,000 to $499,999: 27.5%
Households with a net worth of $500,000 or more: 41.4%
Maine
Median net worth: $326,570
Median retirement savings: $106,340
Median deposit account balance: $15,951
Median home equity: $212,680
Median equity in vehicles: $15,100
Households with net worth of $1 to $24,999: 11.2%
Households with a net worth of $25,000 to $99,999: 5.4%
Households with a net worth of $100,000 to $499,999: 43.2%
Households with a net worth of $500,000 or more: 33.2%
Utah
Median net worth: $324,975
Median retirement savings: $73,375
Median deposit account balance: $13,984
Median home equity: $309,449
Median equity in vehicles: $15,855
Households with net worth of $1 to $24,999: 10.3%
Households with a net worth of $25,000 to $99,999: 10.5%
Households with a net worth of $100,000 to $499,999: 32.9%
Households with a net worth of $500,000 or more: 37.6%
Maryland
Median net worth: $323,912
Median retirement savings: $108,467
Median deposit account balance: $13,186
Median home equity: $233,948
Median equity in vehicles: $16,344
Households with net worth of $1 to $24,999: 8.3%
Households with a net worth of $25,000 to $99,999: 12.6%
Households with a net worth of $100,000 to $499,999: 32.8%
Households with a net worth of $500,000 or more: 37.3%
Colorado
Median net worth: $301,687
Median retirement savings: $116,442
Median deposit account balance: $14,888
Median home equity: $340,288
Median equity in vehicles: $15,738
Households with net worth of $1 to $24,999: 14.7%
Households with a net worth of $25,000 to $99,999: 12.1%
Households with a net worth of $100,000 to $499,999: 21.1%
Households with a net worth of $500,000 or more: 41.9%
California
Median net worth: $295,838
Median retirement savings: $96,131
Median deposit account balance: $17,046
Median home equity: $531,700
Median equity in vehicles: $15,632
Households with net worth of $1 to $24,999: 17.3%
Households with a net worth of $25,000 to $99,999: 12.0%
Households with a net worth of $100,000 to $499,999: 22.0%
Households with a net worth of $500,000 or more: 40.1%
New Jersey
Median net worth: $284,672
Median retirement savings: $137,179
Median deposit account balance: $21,268
Median home equity: $319,020
Median equity in vehicles: $17,418
Households with net worth of $1 to $24,999: 19.3%
Households with a net worth of $25,000 to $99,999: 11.7%
Households with a net worth of $100,000 to $499,999: 22.7%
Households with a net worth of $500,000 or more: 40.4%
Montana
Median net worth: $273,187
Median retirement savings: $89,964
Median deposit account balance: $14,388
Median home equity: $303,069
Median equity in vehicles: $18,099
Households with net worth of $1 to $24,999: 9.5%
Households with a net worth of $25,000 to $99,999: 14.1%
Households with a net worth of $100,000 to $499,999: 22.1%
Households with a net worth of $500,000 or more: 40.3%
Household net worth and asset data comes from the U.S. Census Bureau for 2022. A cumulative 6.34% inflation rate (CPI-U) between December 2022 and December 2024 was applied to figures to translate estimates to December 2024 dollars. Data was available for 44 states (Alaska, Delaware, North Dakota, South Dakota, Vermont and Wyoming were excluded).
Photo credit: ©iStock.com/miljko
The post Household Net Worth is Highest in These States – 2025 Study appeared first on SmartReads by SmartAsset.
