1 In 5 Households In This State Have A Net Worth Of $0 Or Less

If your debts are equal to or more than what you own in assets, you have what is known as zero (or negative) net worth. According to SmartAsset, 11.3% of all U.S. households had a negative net worth in 2024, the most recent data available. However, some states had percentages well above or below that average. By state, Oklahoma took the unfortunate title of having the highest number of zero-net-worth households. The study found that 20.1% of the state's households had debt that was equal to or exceeded their asset — up from 19.3% in 2023.

While negative net worth doesn't mean you have no money at all, it does mean you're not getting ahead financially. Net worth factors in things like your savings, investments, property values, and possessions, and compares these assets against debts like loans and credit cards. For people approaching retirement, a zero net worth can mean having little to dip into during your golden years. Also important is that lenders often look at net worth when deciding whether to approve someone for a mortgage or car loan. While no state was immune to negative net worth, Oklahoma's particularly high rate means that one in five households in the state are likely struggling to meet their long-term financial goals. 

Interestingly, the rates of zero or negative net worth did not necessarily align with income. For example, both Mississippi and New York had higher rates of zero-net-worth households than the national average — at 17.6% and 15.6%, respectively. And yet, while Mississippi is one of the states with the lowest average income, New York is among the states with the highest median income. 

There also wasn't a direct correlation to cost of living. Despite having the highest rate of negative net worth, Oklahoma is the state with the lowest cost of living, per Q2 2026 data from the Missouri Economic Research & Information Center. Meanwhile, Hawaii had the lowest rate of negative net worth, at 4.1%, despite being the state with the highest cost of living. 

All of which proves that debt can creep up on you regardless of how much you make or where you live. It can be easy to assume you're doing well financially if you're making regular payments and creditors aren't knocking on your door. However, even if you're living comfortably with a zero net worth, habits like revolving credit card debt — a bad credit habit that even "upper-class" people have — can eat away at your wealth. While some debt is considered good debt, you ideally want to get to a place where these financial factors aren't dragging your net worth into the negative.