What’s the median net worth, typical retirement savings in IL? What one analysis found
AI-generated summary reviewed by our newsroom.
- Illinois median household net worth is $209,500, ranking 19th of 43 states.
- Median retirement savings for Illinois households measure $111,000 in latest data.
- 64.2% of Illinois households have $100,000+ net worth; 30.1% have $500,000+.
The median net worth for Illinois households is more than $200,000, according to a recent report. But how much do typical Illinois residents have saved for retirement?
The Feb. 23 report, “Average Net Worth and Assets by State – 2026 Study,” by financial company SmartAsset found Illinois has the 19th highest median household net worth out of 43 states for which U.S. Census Bureau data was available.
SmartAsset reported Illinois had a median household net worth of $209,500, with a median retirement savings of $111,000. The report also found Illinois’ median deposit account balance was $16,000, median home equity was $165,000 and median equity in vehicles was $14,270.
Just over 30% of Illinois households have a net worth of $500,000 or more, according to the analysis, and 64.2% 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.
Along with its slightly above-average performance for median household net worth, Illinois also performs relatively well for median household income. U.S. News & World Report, using Census Bureau data, found Illinois has the 18th-highest median household income in the nation, at $83,390.
Here’s how Illinois compared to other top-performing states 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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