This Is How Much Cash People Keep in the Bank in Your State

Between skyrocketing inflation, the ever-increasing cost of living, and the turbulence of President Donald Trump’s international tariff policies, there’s likely never been a better time in recent memory to have a healthy amount of cash on hand. This begs the question: How much cash do most Americans keep in the bank?

SmartAsset (via Visual Capitalist) recently set out to answer that question by analyzing median banking data state-by-state from the Bureau of Labor Statistics. While the Bureau’s most recent information was from 2022, SmartAsset then brought the totals up to 2024 levels by adding a 6.34% inflation rate. (Note: Banking information was not available from Alaska, Delaware, North Dakota, South Dakota, Vermont and Wyoming.)

What they found was intriguing. Perhaps unsurprisingly, Hawaii was ranked #1 with the highest median household bank balance ($43,599), which makes sense, as the Aloha State has the highest cost of living in the nation.

More surprising, though, were the rankings of similarly large-economy states like Texas and New York, both of which fell near the middle of the list. Visual Capitalist mused this could be due to a wide wealth disparity in both Texas and New York, or simply that residents are investing their savings rather than keeping them in the bank.

Read on to find where your state falls on the list.

• Median household bank balance: $43,599

• Median household bank balance: $21,268

• Median household bank balance: $19,035

• Median household bank balance: $17,387

• Median household bank balance: $17,046

• Median household bank balance: $16,834

• Median household bank balance: $16,695

• Median household bank balance: $15,951

• Median household bank balance: $14,888

• Median household bank balance: $14,388

• Median household bank balance: $13,984

• Median household bank balance: $13,909

• Median household bank balance: $13,293

• Median household bank balance: $13,218

• Median household bank balance: $13,186

• Median household bank balance: $12,867

• Median household bank balance: $12,761

• Median household bank balance: $12,229

• Median household bank balance: $11,963

• Median household bank balance: $11,697

• Median household bank balance: $11,697

• Median household bank balance: $11,697

• Median household bank balance: $11,453

• Median household bank balance: $11,293

• Median household bank balance: $10,634

• Median household bank balance: $9,873

• Median household bank balance: $9,571

• Median household bank balance: $9,571

• Median household bank balance: $9,039

• Median household bank balance: $9,039

• Median household bank balance: $8,507

• Median household bank balance: $7,603

• Median household bank balance: $7,550

• Median household bank balance: $7,444

• Median household bank balance: $7,444

• Median household bank balance: $6,380

• Median household bank balance: $6,061

• Median household bank balance: $5,955

• Median household bank balance: $4,785

• Median household bank balance: $4,594

• Median household bank balance: $4,307

• Median household bank balance: $3,477

• Median household bank balance: $2,339

• Median household bank balance: $1,914

Sources

• SmartAsset, “Household Net Worth is Highest in These States – 2025 Study“
• Visual Capitalist, “Ranked: States Where Americans Have the Most Cash in the Bank“