Pennsylvania has the 20th-highest median household net worth out of 43 states with available data, according to a recent report from financial company SmartAsset.
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The median net worth for Pennsylvania households exceeds $200,000, according to a recent report. But how does the commonwealth compare to the rest of the nation, and how much do typical residents have saved for retirement?
The Feb. 23 report, “Average Net Worth and Assets by State – 2026 Study,” by financial company SmartAsset found Pennsylvania has the 20th highest median household net worth out of 43 states for which U.S. Census Bureau data was available.
SmartAsset reported the commonwealth had a median household net worth of $207,700, with a median retirement savings of $101,800. The report also found Pennsylvania’s median deposit account balance was $10,750, median home equity was $175,000 and median equity in vehicles was $12,750.
Nearly 30% of households in the state have a net worth of $500,000 or more, according to the analysis, and 65.4% had a net worth of $100,000 or more.
“Liquid assets can provide better odds for approval for home loans or other lines of credit, cushioning for unpredictable life events, and the potential to make your money work for you through investments,” SmartAsset’s report reads. “But households in different locations often manage different savings rates, depending on factors such as the local job market, economy, cost of living, and taxes.”
Hawaii was named the No. 1 state with the highest median household net worth at $692,700, while Arkansas landed in the bottom.
While Pennsylvania performed roughly in the middle of the pack for median household net worth, the commonwealth didn’t perform quite as well in another analysis, from U.S. News & World Report, on median household income. That analysis found Pennsylvania 28th in the nation for household income at $77,971, per Census Bureau data.
Here’s how Pennsylvania compared to the rest of the nation for net worth.
Which states have the highest net worths?
Here’s how the top 20 states in the U.S. compared for median household net worth, according to SmartAsset:
1. Hawaii: $692,700 median household net worth
2. Washington: $456,500
3. New Hampshire: $412,600
4. Massachusetts: $394,900
5. Colorado: $370,000
6. Maryland: $330,500
7. Idaho: $313,400
8. New Jersey: $312,400
9. Maine: $303,700
10. Nebraska: $285,800
11. Utah: $282,800
12. California: $273,800
13. Minnesota: $271,300
14. Montana: $258,100
15. Florida: $255,100
16. Connecticut: $253,100
17. Oregon: $248,900
18. Virginia: $219,100
19. Illinois: $209,500
20. Pennsylvania: $207,700
Arkansas had the lowest median household net worth in SmartAsset’s analysis at $62,500. The other states with relatively low median net worths included New Mexico, Oklahoma, Kentucky and Louisiana.
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Meredith Howard is a service journalist with the Belleville News-Democrat. She is a Baylor University graduate and has previously freelanced with the Illinois Times and the Pulitzer Center on Crisis Reporting.
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