A recent analysis reveals significant variation in stock market involvement across the US. The methodology used to calculate participation rates is based on tax returns showing dividend or capital gains income. This approach was introduced by researchers in 2017 and provides a conservative estimate of actual participation.

Rates range from a high of 29% to a low of 11%. Further details on these rates and the analysis are available from the source.

The data used for this analysis is from 2022, the most recent year available from the Internal Revenue Service.