Disclaimer: General educational research only — not legal, tax or financial advice. Rules differ by state and by family. Talk to an estate planning attorney in your state before you act.
Estate Planning Data & Research → Investment Income Households by State
Brokerage accounts, savings and rental property often don’t pass under a will at all. They go by a transfer-on-death registration, joint ownership or a deed, and if those are out of date the will can’t fix it.
This page shows the share of households in each state and D.C. that reported interest, dividend or net rental income in the Census Bureau’s American Community Survey 2024.
Titling and beneficiary forms decide where much of this money goes, so review them alongside the will. See how a trust and a will differ.
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Cite this page URL when reusing findings. Not a substitute for official sources or professional advice.
Key findings
- 26,693,150 U.S. households (20.1%) reported interest, dividends or net rental income in the past year.
- Highest: Alaska (48.8%), but the Alaska figure is likely inflated by the Alaska Permanent Fund Dividend paid to residents; see the note below. Excluding Alaska, the highest are Hawaii (30.0%), Vermont (27.7%), District of Columbia (27.3%), Montana (26.7%) and New Hampshire (25.8%).
- Lowest: Mississippi (12.2%), Louisiana (13.8%), Kentucky (14.6%), Alabama (14.8%) and West Virginia (15.9%).
- The typical state is 20.9%.
Households with interest, dividend or rental income, by state
| State | Households | With interest, dividends or rental income | Share (%) |
|---|---|---|---|
| Alaska (see note) | 274,045 | 133,720 | 48.8 |
| Hawaii | 493,151 | 147,717 | 30.0 |
| Vermont | 285,548 | 79,018 | 27.7 |
| District of Columbia | 329,687 | 89,880 | 27.3 |
| Montana | 468,981 | 125,164 | 26.7 |
| New Hampshire | 570,689 | 147,284 | 25.8 |
| Massachusetts | 2,829,804 | 725,865 | 25.7 |
| Washington | 3,168,080 | 791,021 | 25.0 |
| Colorado | 2,479,892 | 610,854 | 24.6 |
| Oregon | 1,744,270 | 429,696 | 24.6 |
| North Dakota | 349,705 | 84,528 | 24.2 |
| Connecticut | 1,455,235 | 349,105 | 24.0 |
| Wyoming | 256,289 | 61,357 | 23.9 |
| Maine | 615,235 | 143,526 | 23.3 |
| New Jersey | 3,543,944 | 826,410 | 23.3 |
| Virginia | 3,449,307 | 788,543 | 22.9 |
| Wisconsin | 2,535,198 | 565,928 | 22.3 |
| California | 13,797,638 | 3,038,708 | 22.0 |
| Minnesota | 2,363,442 | 520,158 | 22.0 |
| Pennsylvania | 5,361,724 | 1,175,087 | 21.9 |
| Maryland | 2,401,394 | 510,077 | 21.2 |
| Delaware | 412,304 | 86,507 | 21.0 |
| Iowa | 1,343,422 | 282,145 | 21.0 |
| South Dakota | 382,302 | 80,245 | 21.0 |
| Nebraska | 824,012 | 172,407 | 20.9 |
| Rhode Island | 448,318 | 93,648 | 20.9 |
| Florida | 9,141,675 | 1,888,810 | 20.7 |
| New York | 7,828,074 | 1,621,363 | 20.7 |
| Utah | 1,184,428 | 245,096 | 20.7 |
| Illinois | 5,105,448 | 1,050,530 | 20.6 |
| Kansas | 1,204,374 | 248,311 | 20.6 |
| Idaho | 751,181 | 153,860 | 20.5 |
| Arizona | 2,982,475 | 589,920 | 19.8 |
| Michigan | 4,131,281 | 789,879 | 19.1 |
| Nevada | 1,238,925 | 229,965 | 18.6 |
| New Mexico | 856,970 | 159,163 | 18.6 |
| North Carolina | 4,496,359 | 825,889 | 18.4 |
| Missouri | 2,563,244 | 466,991 | 18.2 |
| Ohio | 4,929,322 | 879,873 | 17.8 |
| Tennessee | 2,928,765 | 516,410 | 17.6 |
| Oklahoma | 1,603,748 | 275,476 | 17.2 |
| South Carolina | 2,222,890 | 378,692 | 17.0 |
| Arkansas | 1,246,754 | 210,865 | 16.9 |
| Indiana | 2,775,637 | 463,674 | 16.7 |
| Texas | 11,449,769 | 1,863,383 | 16.3 |
| Georgia | 4,220,732 | 684,869 | 16.2 |
| West Virginia | 740,840 | 117,466 | 15.9 |
| Alabama | 2,059,528 | 303,914 | 14.8 |
| Kentucky | 1,865,456 | 271,946 | 14.6 |
| Louisiana | 1,848,965 | 254,556 | 13.8 |
| Mississippi | 1,176,690 | 143,651 | 12.2 |
| United States | 132,737,146 | 26,693,150 | 20.1 |
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates, table B19054. Note on Alaska: the Census Bureau’s ACS questionnaire asks about interest, dividends, net rental income, royalty income and income from estates and trusts together, and Alaska residents who receive the state’s Permanent Fund Dividend may report it there, so Alaska is not comparable with other states. Sorted by share.
Why these assets can skip the will
- Brokerage and bank accounts can carry a transfer-on-death or payable-on-death beneficiary that overrides the will. See money that skips the will.
- Rental property passes by deed. Many states allow a transfer-on-death deed; otherwise it may need probate in each state where it sits.
- Jointly owned accounts usually go to the surviving owner.
- A living trust can hold accounts and property so one document controls them.
Related: retirement income households by state · the great wealth transfer tracker
Methodology
Census Bureau American Community Survey 2024 1-year estimates, table B19054 (interest, dividends, or net rental income in the past 12 months for households), pulled from the Census API on Oct. 16, 2026. Share is households with such income divided by all households. ACS estimates have margins of error.
What this doesn’t measure. How much income or wealth households have, retirement accounts (see the retirement income page), or whether accounts have beneficiaries named. The ACS combines several income types in one question, so the share is not a count of investors.
Frequently asked questions
What share of households have investment income?
20.1% of U.S. households (26,693,150) reported interest, dividends or net rental income in 2024.
Why is Alaska so high?
Alaska pays most residents an annual Permanent Fund Dividend, which many likely report as dividend income on the Census survey.
Does a will control a brokerage account?
Not if the account has a transfer-on-death beneficiary or joint owner. Those designations usually override the will.
Is this legal advice?
No. Talk to an estate planning attorney in your state.
Sources
Public-domain government sources only. Fetched 2026-10-16.
Data
- U.S. Census Bureau, American Community Survey 2024 1-year, table B19054 (API): https://api.census.gov/data/2024/acs/acs1/groups/B19054.html
- Alaska Department of Revenue, Permanent Fund Dividend Division: https://pfd.alaska.gov/
Cite this data
Family Estate Guide, “Investment Income Households by State,” October 2026. https://familyestateguide.com/estate-planning-data/investment-income-households-by-state/
You’re welcome to reuse the table with a link back to this page. The underlying government data is public.
Published October 16, 2026 by Family Estate Guide. Data vintage: Census ACS 2024 1-year. Editorial standards.