Kentucky’s median net worth lands among bottom of the pack in US, report says
The median net worth for Kentucky households is $81,900, according to a recent report, putting the commonwealth among the states with the lowest net worths in the nation.
The Feb. 23 report, “Average Net Worth and Assets by State – 2026 Study,” by financial company SmartAsset found Kentucky has the fourth-lowest median household net worth out of 43 states for which U.S. Census Bureau data was available.
SmartAsset reports the Bluegrass State had median retirement savings of $50,000. The report also found the median deposit account balance was $3,700, median home equity was $94,000 and median equity in vehicles was $12,000.
Despite the commonwealth’s low median net worth compared to other states, 46% of Kentucky households have a net worth of $100,000 or more, and 19% have net worths of at least $500,000, according to the analysis.
“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.
Similarly to its performance in SmartAsset’s report, Kentucky also landed near the bottom in another analysis, from U.S. News & World Report, on median household income. That analysis found Kentucky 46th in the nation for household income, at $63,726, per Census Bureau data.
However, the Bluegrass State outperformed others for affordability, according to U.S. News, ranking 10th in the nation.
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 and Louisiana.
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