Average ROI of Associate Degrees by State (2026 stats)
TL;DR
Associate-degree colleges return a median $159,548 over 10 years in EDsmart Data's analysis. Utah leads the states at $193,540; Puerto Rico is lowest at $86,187. Nationally, associate graduates earn $39,410 in their first year after completing.
Key Facts
- U.S. median 10-year ROI, associate colleges: $159,548
- Highest state: Utah ($193,540)
- Lowest state: Puerto Rico ($86,187)
- Associate graduates' median year-1 earnings: $39,410
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States with the highest 10-year ROI for associate-degree colleges
Where two-year degrees pay best
Our analysis finds associate colleges in Utah return 21% more than the national median.
States with at least 3 associate-predominant colleges reporting ROI.
Associate degree ROI by state
| State | Median 10-year ROI | Colleges | Net price / yr | Earnings 10 yrs after entry | Program earnings, year 1 | Program earnings, year 5 | Median program debt |
|---|---|---|---|---|---|---|---|
| Utah | $193,540 | 7 | $10,258 | $49,841 | $61,785 | $53,813 | $17,031 |
| Minnesota | $178,982 | 20 | $13,044 | $46,449 | $45,969 | $49,562 | $25,000 |
| Massachusetts | $177,065 | 18 | $8,000 | $43,266 | $38,975 | $48,911 | $11,000 |
| Washington | $176,212 | 26 | $9,564 | $43,670 | $44,175 | $48,302 | $19,000 |
| Ohio | $175,456 | 42 | $13,474 | $45,388 | $36,942 | $45,755 | $20,500 |
| Maryland | $174,304 | 15 | $9,234 | $43,952 | $40,345 | $52,159 | $13,499 |
| Maine | $171,147 | 8 | $8,054 | $42,076 | $40,977 | $43,132 | $15,575 |
| North Dakota | $170,489 | 8 | $8,273 | $42,296 | $66,335 | $52,198 | $27,167 |
| Nebraska | $168,149 | 8 | $8,924 | $38,773 | $42,642 | $46,252 | $12,000 |
| New York | $167,466 | 63 | $10,753 | $41,287 | $30,518 | $42,567 | $19,165 |
| Pennsylvania | $166,932 | 34 | $12,598 | $42,007 | $37,601 | $44,136 | $19,500 |
| Idaho | $166,612 | 4 | $8,639 | $40,916 | $37,157 | $43,581 | $15,055 |
| Iowa | $166,394 | 11 | $11,272 | $42,046 | $38,962 | $44,408 | $11,938 |
| New Jersey | $165,064 | 24 | $8,324 | $43,046 | $31,639 | $45,092 | $11,500 |
| Illinois | $164,088 | 18 | $7,724 | $39,119 | $39,065 | $46,639 | $15,000 |
| New Mexico | $162,742 | 9 | $6,048 | $39,067 | $34,156 | $36,982 | $10,497 |
| New Hampshire | $161,545 | 6 | $15,286 | $47,554 | $45,084 | $57,171 | $22,232 |
| Texas | $161,200 | 59 | $7,690 | $39,254 | $39,234 | $46,308 | $17,360 |
| Wyoming | $161,056 | 7 | $7,463 | $40,477 | $60,794 | $47,760 | $13,582 |
| California | $160,944 | 107 | $8,516 | $42,214 | $39,458 | $44,717 | $19,635 |
| Florida | $160,910 | 43 | $19,850 | $40,318 | $36,389 | $43,120 | $22,258 |
| Colorado | $160,416 | 7 | $9,450 | $40,796 | $38,729 | $44,411 | $24,263 |
| Hawaii | $160,024 | 6 | $7,760 | $39,169 | $31,921 | $37,876 | $12,000 |
| South Carolina | $159,563 | 10 | $8,647 | $38,963 | $51,730 | $47,529 | $26,547 |
| Michigan | $159,204 | 27 | $5,687 | $37,357 | $37,347 | $45,784 | $15,608 |
| Oregon | $156,031 | 13 | $10,405 | $40,222 | $30,852 | $43,197 | $15,334 |
| Tennessee | $155,516 | 18 | $6,580 | $37,342 | $33,853 | $40,318 | $25,849 |
| South Dakota | $153,730 | 7 | $12,768 | $40,240 | $41,340 | $46,731 | $14,625 |
| Kansas | $153,685 | 12 | $12,826 | $38,449 | $61,810 | $49,995 | $26,536 |
| Alabama | $150,988 | 7 | $8,627 | $36,909 | $42,590 | $47,173 | $16,710 |
| Virginia | $150,365 | 14 | $11,900 | $40,198 | $39,761 | $45,309 | $24,509 |
| Missouri | $146,514 | 18 | $9,386 | $36,919 | $38,554 | $41,960 | $12,567 |
| North Carolina | $144,414 | 35 | $6,723 | $34,231 | $39,458 | $40,440 | $17,389 |
| Oklahoma | $142,041 | 18 | $11,252 | $38,146 | $45,301 | $46,702 | $15,909 |
| Mississippi | $136,291 | 15 | $5,643 | $32,922 | $39,929 | $35,795 | $10,940 |
| Georgia | $132,520 | 13 | $16,844 | $39,257 | $30,821 | $41,286 | $20,563 |
| West Virginia | $131,282 | 14 | $8,210 | $31,774 | $41,350 | $43,421 | $18,366 |
| Arizona | $125,890 | 9 | $22,280 | $38,673 | $43,227 | $46,069 | $25,250 |
| Indiana | $121,000 | 6 | $20,874 | $44,216 | $43,104 | $43,411 | $18,000 |
| Louisiana | $120,513 | 5 | $20,850 | $36,909 | $34,039 | $40,721 | $23,735 |
| Montana | $120,099 | 12 | $8,215 | $31,626 | $46,288 | $52,867 | $18,500 |
| Nevada | $114,772 | 6 | $27,035 | $40,037 | $62,420 | $57,157 | $32,500 |
| Wisconsin | $106,348 | 3 | $8,805 | $25,853 | $41,740 | $46,668 | $25,524 |
| Kentucky | $88,285 | 6 | $23,348 | $37,114 | $64,355 | $46,379 | $34,859 |
| Puerto Rico | $86,187 | 17 | $6,440 | $22,844 | $31,869 | $26,248 | $16,000 |
What the data shows
State differences reflect both sides of the ROI equation: local wage levels (graduates in high-wage labor markets earn more) and community college pricing, which state funding keeps low in some places and not others.
Institution ROI covers everyone who enrolled, including students who transferred or did not finish. Program earnings cover only graduates, which is why they can differ from the college-level figures.
Methodology
10-year ROI = cumulative median earnings in years 6–10 after entry minus average net price × 3 years, for associate-predominant colleges in College Scorecard. State values are the median across colleges.
Program figures come from the College Scorecard field-of-study file: one record per institution × 4-digit CIP code × credential level. Earnings are median annual earnings of federal-aid recipients who completed the program and were working and not enrolled, measured 1, 4, and 5 years after completion (in the dollar year of the Scorecard release). Debt is the median federal loan balance (Stafford and Grad PLUS) at completion; private loans and Parent PLUS are excluded. Programs with too few graduates are suppressed by the Department of Education and drop out of each column.
Frequently asked questions
What is the average ROI of an associate degree?
Associate-predominant colleges return a median $159,548 over 10 years after subtracting three years of net price, based on College Scorecard earnings.
Which state has the best ROI for associate degrees?
Utah has the highest median 10-year ROI for associate colleges at $193,540, followed by Minnesota ($178,982).
How much do associate degree graduates earn?
The median associate program pays $39,410 one year after completion and $44,862 five years out.
Data sources
- U.S. Department of Education, College Scorecard institution and field-of-study files (latest release in our extract)