American’s debt balances have risen to a high of $12.84 trillion.
Americans’ average debt amount in 2017 is $140,113, a new study found.
Personal finance website GOBankingRates surveyed over 2,500 adults across the U.S. to find how much debt the average American has. GOBankingRates asked the following six questions:
- How much debt do you currently have?
- How much mortgage debt do you currently have?
- How much credit card debt do you currently have?
- How much student loan debt do you currently have?
- How much auto loan debt do you currently have?
- How much medical debt do you currently have?
The survey found that the percentage of debt varies greatly depending on the type of debt, as well as age and gender.
Most Common Type of Debt in America
- Mortgage Debt: 65 percent of Americans
Least Common Type of Debt in America
- Medical Debt: 21 percent
For full study results and more details on methodology, visit: Here’s How Much Debt Americans Have in 2017.
Top 5 States With the Highest Average Debt
1. Hawaii: $869,250
2. Maryland: $284,851
3. Texas: $185,583
4. Oklahoma: $174,838
5. Indiana: $166,844
Top 5 States With the Lowest Average Debt
1. Washington, D.C.: $1,611
2. Arkansas: $2,286
3. Louisiana: $6,139
4. South Dakota: $6,738
5. Nebraska: $8,426
Additional Study Insights
- The two states with the highest percentage of credit card debt are Hawaii and Maine (where 75 percent of people have debt).
- Men have three times as much debt as women do.
- Older Gen Xers have the most debt, at $130,656.
SOURCE GOBankingRates
RELATED LINKS
http://www.gobankingrates.com
