Arizona Bank Accounts Smaller Than Accounts in Any Other U.S. State, Study Finds

If you live in Arizona and get pissed off every time you look at your bank statement, you may want to consider re-locating -- a recent study finds that Arizona has the emptiest bank accounts of any state in the entire country.

According to the study, conducted by Pitney Bowes Business Insight, the average bank account in Arizona has $4,466 in it. That's well below the national average of $5,753.

Arizona is amongst 33 states below the national average. Those states include several of Arizona's neighbors in the Southwest, including Nevada, with an average of $4,794, and New Mexico, with an average of $4,515.

While the southwest seems to be home to most of the have-nots, the haves tend to live in the Northeast, where the cost of living is often much higher than Arizona's, and average salaries tend to be higher, the study finds.

New Jersey leads the way in terms of bulky bank accounts with an average of $7,477. Connecticut takes the silver medal with $6,914, while Massachusetts takes the number three spot with an average of $6,847.

See the complete report here.

KEEP PHOENIX NEW TIMES FREE... Since we started Phoenix New Times, it has been defined as the free, independent voice of Phoenix, and we'd like to keep it that way. With local media under siege, it's more important than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" program, allowing us to keep offering readers access to our incisive coverage of local news, food and culture with no paywalls.
James King
Contact: James King