SOUTHLAND – (INT) - California ranks seventh in the nation for its decline in average household savings account balances.

Lending Tree reports the average California household carries a savings balance of $66,561. That’s down nearly 40% from $109,943 just 5-years ago.

On a positive note, California ranks 13th nationwide for the highest percentage of households with savings portfolios. Three-fourths of California households have a savings account.

Half of the nation’s ten Metro areas with the highest average household savings account balances are in California. San Jose leads at $78,331, ahead of Oxnard and San Francisco. Sacramento and San Diego are 9th and tenth-highest.

Story Date: December 6, 2024