Wealth Facts: Net Worth in Central PA
In this second installment on Wealth Facts in Central Pennsylvania, we have chosen to discuss net worth of those who live in the region. Net worth measures the amount of assets a person has minus their liabilities to ultimately determine what a person or entity "is worth". Increases in net worth are typically an indicator of financial strength.
By comparison to the United States as a whole and the state of Pennsylvania, Central PA stacks up really well in terms of average net worth. Currently, the average in the U.S. is $558,297 making the region about 6.6% higher at $595,107. Pennsylvania is only slightly higher with an average net worth of $601,845.
breakdown of net worth in central pa
Looking at net worth categorically by dollar amount, about 54% of individuals aged 15 and over have an average net worth over $100,000. Additionally, about 1 in 4 individuals in Central PA have a net worth of less than $15,000. These individuals make up 52% of those with an average net worth of less than $100,000.
The graph below demonstrates a detailed breakdown of the current net worth conditions in Central Pennsylvania. The graph shows the percentage of population over the age of 15 categorically by dollar amount. The green bars represent the percentages of the population that have a net worth over $100,000 while blue bars represent those with a net worth less than $100,000.
The heat map above shows the population over the age of 15 across each of the nine Central Pennsylvania counties with a net worth greater than $100,000 by zip codes. Darker-colored areas represent zip codes with higher populations that have a net worth over $100,000 while lighter-colored areas represent zip codes with fewer populations that have a net worth over $100,000.
net worth and age breakdowns in central pa
When breaking down net worth by age ranges, as expected, higher net worths are more prominent in the older age groupings. For instance, those individuals in the region age 65-74 have the highest average net worth out of each of the groups. The average for them is approximately $1.1 million. The second highest group encompasses those aged 55-64, whose average net worths fall at about $880,000.
The graph below shows the average net worth of individual age groupings across the Central Pennsylvania region which includes the following nine counties: Adams, Berks, Cumberland, Dauphin, Franklin, Lancaster, Lebanon, Perry, and York.
See our other MORETidbits article related to Weath Facts in Central PA: Household Income