Average 401(k) Balance by State (Census 2024 Data)

About half of U.S. households (49.3%) held a 401(k) or Thrift Savings Plan (TSP) account in 2024, according to the Census Bureau. Among those households, the median combined balance was $60,000 and the mean was $238,600. By state, the published medians run from $17,000 in Alabama to $111,900 in Connecticut, but both of those estimates are imprecise, and most differences between neighboring states are within the survey’s margin of error.

The figures below come from the Census Bureau’s Survey of Income and Program Participation (SIPP), State-Level Wealth, Asset Ownership & Debt of Households Tables for 2024, released in July 2026.

What These Numbers Measure

Read the state figures with four points in mind:

• Household totals, not one person’s account. The value is every 401(k) and TSP account in the household added together. A married couple who both have a 401(k) count as one household.
• Only households that have one. Census reports the balances “conditional on asset ownership”: households with no 401(k) or TSP account are left out of the median and mean, not counted as zero. The share that hold one is shown separately.
• 2024 values, in dollars. The data come from the 2025 SIPP survey and describe 2024.
• Pensions are not included. IRAs are a separate category, and the Census wealth measure does not count equity in traditional (defined-benefit) pension plans.

The Census Bureau publishes medians and means with standard errors. The median is the better guide to a typical household: the national mean ($238,600) is about four times the median ($60,000) because a minority of large balances pull the average up.

National Figures: Census vs. Vanguard

The two sources measure different things, which is why their numbers don’t match:

• Unit: Vanguard reports one balance per plan participant in plans it administers. Census adds up all 401(k) and TSP accounts in a household, so a two-earner household’s figure can include two accounts.
• Coverage: Vanguard covers its own recordkeeping clients. Census surveys a sample of all U.S. households, whoever holds the account.
• Date: Vanguard’s figures are for year-end 2025; the Census figures describe 2024.

Because of these differences, the Census household median ($60,000) and Vanguard’s per-participant median ($44,115) are not directly comparable, and neither is a benchmark for a single account. For balances by age instead of by state, see average 401(k) balance by age.

Highest 401(k) Balances by State: Top 10

Source: U.S. Census Bureau, Survey of Income and Program Participation, State-Level Wealth, Asset Ownership & Debt of Households Tables: 2024. Balances are the value of all 401(k) and Thrift Savings Plan accounts in a household, among households that hold one (national median $60,000, mean $238,600; 49.3% of households hold one). ± is the 90% margin of error (1.645 × the Census standard error); † marks an estimate whose standard error is more than 30% of its value, which Census says to use with caution. Ranks are by median, and differences between states may not be statistically significant.

Connecticut, Maryland and New Jersey have the highest published medians, each about $100,000 or more. The margins of error are wide, though: Connecticut’s 90% range runs from about $45,000 to $179,000. Using the Census standard errors, wealthvieu’s approximate test (90% level, comparing each state’s median with the national $60,000) finds only Maryland and California clearly above the national median. The other states in the top 10 may be above it, but the sample can’t confirm it.

Lowest 401(k) Balances by State: Bottom 10

Source: U.S. Census Bureau, Survey of Income and Program Participation, State-Level Wealth, Asset Ownership & Debt of Households Tables: 2024. Balances are the value of all 401(k) and Thrift Savings Plan accounts in a household, among households that hold one (national median $60,000, mean $238,600; 49.3% of households hold one). ± is the 90% margin of error (1.645 × the Census standard error); † marks an estimate whose standard error is more than 30% of its value, which Census says to use with caution. Ranks are by median, and differences between states may not be statistically significant.

Alabama’s median ($17,000) is the lowest published, but its standard error is more than 30% of the estimate, so Census advises caution. By the same approximate test, seven states have medians clearly below the national $60,000: Alabama, Kansas, Mississippi, Oklahoma, South Carolina, Texas and Wisconsin. Mean balances in these states are still well above their medians, from $119,000 in Kansas to $221,000 in Florida.

Complete 401(k) Balance by State Table

Every state and the District of Columbia, ranked by median balance. States sharing a median share a rank. The rank order is not firm: confidence intervals for most states overlap, so a state ranked a few places above another may not actually have a higher median.

Source: U.S. Census Bureau, Survey of Income and Program Participation, State-Level Wealth, Asset Ownership & Debt of Households Tables: 2024. Balances are the value of all 401(k) and Thrift Savings Plan accounts in a household, among households that hold one (national median $60,000, mean $238,600; 49.3% of households hold one). ± is the 90% margin of error (1.645 × the Census standard error); † marks an estimate whose standard error is more than 30% of its value, which Census says to use with caution. Ranks are by median, and differences between states may not be statistically significant. Balances are not published where the Census base is under 200,000 households or the sample is under 50.

For balances that are published, values marked † have a coefficient of variation (standard error ÷ estimate) above 0.3. The Census Bureau says such estimates “may suffer from data quality issues” and should be used with caution. Among published medians, that applies to Alabama, Colorado, Connecticut, Georgia, Iowa, Kentucky, Louisiana, Massachusetts, Missouri, Nevada, North Carolina, Utah and Virginia.

Share of Households With a 401(k) by State

Ownership rates are published for every state, including those whose balances are suppressed:

Source: U.S. Census Bureau, Survey of Income and Program Participation, State-Level Wealth, Asset Ownership & Debt of Households Tables: 2024 (national: 49.3% of households). ± is the 90% margin of error (1.645 × the Census standard error), in percentage points; † marks a standard error above 30% of the estimate (use with caution).

The District of Columbia has the highest share (73.2%) and Mississippi the lowest (27.8%). Small states have large margins of error here too: D.C.’s is ± 22.9 percentage points. Across the whole country, 49.3% of households hold a 401(k) or TSP account, and 60.5% hold some type of retirement account. For how much workers put in, see the average 401(k) contribution rate; for household wealth by state, see average net worth by state.

How to Improve Your 401(k) Balance Regardless of State

State medians describe other households; your own balance depends on what you contribute and how long it is invested:

1. Contribute at least enough to get the full employer match. A 3% match on a $60,000 salary is $1,800 a year. See how employer matching works.

2. Raise contributions toward the limit as your pay grows. For 2026 the IRS limit on employee contributions to a 401(k), 403(b), governmental 457 plan or the TSP is $24,500. Workers 50 and older can generally contribute up to $32,500, and a higher catch-up of $11,250 applies at ages 60 to 63. See 401(k) contribution limits.

3. Keep investment costs low. Fees come out of your balance every year, so lower-cost funds leave more of it invested.

4. Decide between Roth and traditional contributions. Our Roth 401(k) vs. traditional 401(k) comparison explains the tradeoffs.

5. Don’t cash out when you change jobs. Rolling an old 401(k) into an IRA or your new employer’s plan keeps the money invested. Taking it out early generally means income tax plus, in most cases, an additional 10% tax on early withdrawals.

Our 401(k) calculator projects what your own contributions could grow to.

Key Takeaways

1. The typical household with a 401(k) had $60,000 in 2024. That is the national median of all 401(k) and TSP accounts in a household (Census Bureau); the mean is $238,600.

2. About half of households have one. 49.3% of households hold a 401(k) or TSP, from 27.8% in Mississippi to 73.2% in the District of Columbia.

3. Highest published medians: Connecticut ($111,900), Maryland ($102,300) and New Jersey ($100,000). Only Maryland and California are clearly above the national median by wealthvieu’s approximate test.

4. Lowest published medians: Alabama ($17,000), Oklahoma ($31,000) and Mississippi ($36,500).

5. 17 balances are unpublished. The Census sample is too small in 16 states and D.C. to publish a reliable balance.

6. Don’t compare these with Vanguard’s figures directly. Vanguard’s $167,970 average and $44,115 median (year-end 2025) are per participant in Vanguard plans; the Census figures are household totals.

For more context on your savings standing, see average retirement savings, average 401(k) balance by age and the 401(k) Complete Guide.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.