Net Worth by State (2026): Median and Average Rankings

Net worth varies dramatically across US states, driven by local industries, housing values, wages, and demographics. Median net worth ranges from $7,767 in Mississippi to $127,823 in Washington, and average net worth ranges from $334,058 in North Dakota to $878,513 in Connecticut. Below is the full breakdown, plus why median and average tell two different stories.

Key Takeaways

• Highest median net worth: Washington ($127,823), driven by tech and aerospace wages.
• Highest average net worth: Connecticut ($878,513), skewed by affluent suburbs near NYC.
• Median vs average matters: Average is inflated by a small group of very wealthy households. Median reflects the typical resident more accurately.

Median vs. Average Net Worth Explained

Before the state rankings, it helps to understand the difference between the two figures, because they diverge sharply:

• Average Net Worth: This figure represents the total net worth of a population divided by the number of people. It can be skewed heavily by a few individuals with exceptionally high wealth.
• Median Net Worth: This is the middle value of net worth, where half of the population has more and half has less. It provides a more accurate reflection of the typical resident’s financial status.

For instance, Washington has a median net worth of $127,823 but an average of $766,158, a gap that shows wealth is concentrated at the top rather than evenly distributed. California shows a similar pattern, with a high average driven by tech sector wealth but a more modest median reflecting the broader population.

Median Net Worth by State Visualized

5 States with the Highest Median Net Worth

1. Washington (WA): $127,823
   Washington’s strong tech and aerospace industries contribute significantly to its high median net worth, making it the top state in the nation.
2. Massachusetts (MA): $88,791
   Known for its prestigious universities and healthcare sector, Massachusetts boasts a high standard of living that supports a strong median net worth.
3. Minnesota (MN): $85,813
   Minnesota’s diverse economy, along with a high quality of life, contributes to a solid median net worth for its residents.
4. California (CA): $85,581
   The booming tech and entertainment industries in California, coupled with a robust agricultural sector, drive the state’s high median net worth.
5. Alaska (AK): $83,688
   Alaska’s natural resources and energy sectors play a central role in supporting the financial stability of its residents, contributing to its high median net worth.

5 States with the Lowest Median Net Worth

1. Mississippi (MS): $7,767
   Mississippi faces significant economic challenges, including high poverty and limited job opportunities, resulting in the nation’s lowest median net worth.
2. West Virginia (WV): $10,311
   Historically dependent on coal mining, West Virginia has struggled with economic decline, which contributes to its low median net worth.
3. Louisiana (LA): $12,837
   With economic instability, particularly in areas frequently affected by natural disasters, Louisiana has one of the lowest median net worths in the country.
4. Arkansas (AR): $17,546
   Lower wages and limited economic opportunities in rural areas contribute to Arkansas’s low median net worth.
5. Oklahoma (OK): $19,150
   Economic disparities and a reliance on the energy sector have impacted Oklahoma’s median net worth, placing it among the lowest in the nation.

Average Net Worth by State Visualized

Top 5 States with the Highest Average Net Worth

1. Connecticut (CT): $878,513
   Connecticut’s high average net worth is primarily due to a significant number of high-income households and affluent suburbs.
2. California (CA): $787,755
   California’s tech industry has created immense wealth, contributing to its high average net worth.
3. Vermont (VT): $782,375
   A strong sense of community and local businesses have driven wealth accumulation in Vermont.
4. New Jersey (NJ): $775,885
   New Jersey’s proximity to New York City fosters high salaries and significant wealth.
5. Washington (WA): $766,158
   Washington’s booming tech sector significantly boosts average wealth.

5 States with the Lowest Average Net Worth

1. North Dakota (ND): $334,058
   North Dakota’s rural economy and lower population density contribute to its low average net worth.
2. West Virginia (WV): $339,618
   Ongoing economic struggles and reliance on traditional industries have left West Virginia with a low average net worth.
3. Mississippi (MS): $375,314
   High poverty rates and limited job opportunities result in a notably low average net worth in Mississippi.
4. Utah (UT): $397,901
   Despite a growing economy, Utah’s younger population often has lower net worth due to early-career salaries and high living costs.
5. Louisiana (LA): $422,908
   Economic instability, particularly in areas affected by natural disasters, has hindered wealth growth in Louisiana.

Comparing Median and Average Net Worth by State

Significant disparities can be observed between median and average net worth across states. For example, Washington has a high average net worth ($766,158) and the highest median net worth in the country ($127,823), suggesting broadly distributed wealth on top of a strong high-income tier.

Conversely, states like Mississippi show a stark contrast. Average net worth of $375,314 sits alongside a median of just $7,767, which means the average is being pulled up by a small slice of wealthy households while the typical resident holds very little net worth.

Regional Trends and Patterns

Examining net worth data by region reveals distinct patterns:

• Northeast: States like Connecticut and New Jersey lead in both average and median net worth due to high salaries and concentrations of wealth.
• West Coast: California and Washington showcase high average net worth driven by technology and innovation. Washington also leads the country in median net worth.
• South: States like Mississippi, Louisiana, and Arkansas illustrate the challenges of economic disparity and rank among the lowest on both metrics.
• Upper Midwest: Minnesota stands out with a top-5 median net worth of $85,813, driven by a diversified economy and strong quality of life.

Understanding these regional trends can shed light on the underlying economic conditions and opportunities for improvement. For traders and investors looking to grow net worth through the market, it also helps to study high-performing individual investors. See our breakdown of Ross Cameron’s net worth and trading approach for a closer look at how one retail trader built wealth over time.

Frequently Asked Questions

Which state has the highest median net worth?

Washington has the highest median net worth in the US at $127,823, driven by the state’s strong tech and aerospace industries. Massachusetts ($88,791), Minnesota ($85,813), California ($85,581), and Alaska ($83,688) round out the top five.

Which state has the lowest median net worth?

Mississippi has the lowest median net worth at $7,767. West Virginia ($10,311), Louisiana ($12,837), Arkansas ($17,546), and Oklahoma ($19,150) complete the bottom five. High poverty rates, limited job opportunities, and reliance on declining industries are the main drivers.

Which state has the highest average net worth?

Connecticut leads the country in average net worth at $878,513, powered by a large share of high-income households and affluent suburbs near New York City. California ($787,755), Vermont ($782,375), New Jersey ($775,885), and Washington ($766,158) are close behind.

Why is average net worth higher than median net worth?

Average net worth divides total population wealth by population count, so a small number of extremely wealthy households can pull the figure up dramatically. Median net worth is the middle value, meaning half the population sits above and half sits below. That is why median is a more reliable indicator of what the typical resident actually holds. The gap between the two numbers is itself a signal of how concentrated wealth is in a given state.

How is household net worth calculated?

Household net worth equals total assets minus total liabilities. Assets include home equity, investment and brokerage accounts, retirement accounts like 401(k)s and IRAs, cash and savings, and vehicles. Liabilities include mortgages, car loans, student loans, credit card debt, and any other outstanding debt. The result is a snapshot of financial position at a point in time.