The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to ****** U.S. dollars in 2023. While respondents had ****** U.S. dollars of debt in 2018, that volume decreased to ****** U.S. dollars in 2019, which constituted the largest year-over-year decrease.What age groups are more indebted in the U.S.?The age group with the highest level of consumer debt in the U.S. was belonging to the Generation X with approximately ******* U.S. dollars of debt in 2022. The next generations with high consumer debt levels were baby boomers and millennials, whose debt levels were similar. In comparison, credit card debt is more equally distributed across all ages. There is an exception among people under 35 years old, who are significantly less burdened with credit card debt. However, most consumers expect to get rid of their debt in the short term. College expenses as a source of debtEducational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ** percent of the total. However, around ** percent of undergraduates from lower-income families had student loans, while over a fifth of undergraduates from higher-income families had student loans. Independently of how they cover these expenses, the confidence of students and parents about being able to pay these college costs was high in most cases.

The total average debt of Baby Boomers in the United States amounted to nearly 94,880 U.S. dollars in 2023. Debt balances, however, varied greatly according to the generation. The Generation X held the highest debt on average (157,560 U.S. dollars), while generation Z held the lowest average debt (nearly 29,820 U.S. dollars).

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q1 2025 about disposable, payments, debt, personal income, percent, personal, households, services, income, and USA.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

Federal Reserve Board of New York provides quarterly Household Debt in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Further information about United States Household Debt

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

The generation X was the group of people with the highest average credit card balance in the United States in 2023. That year, the average credit card debt of the generation Z amounted to approximately 3,260 U.S. dollars. People in the silent generation had a credit card balance of roughly 3,410 U.S. dollars.

As of the last quarter of 2022, Alaska and Hawaii were the states in the U.S. with the highest credit card debt. While the average credit card debt in Alaska amounted to 4,430 U.S. dollars, people from Mississippi only had on average 2,450 U.S. dollars of credit card debt.

The average consumer debt balance in the United States has peaked in 2023 at roughly 104,200 U.S. dollars. However, average consumer debt had decreased between 2010 and 2013, when it reached approximately 85,500 U.S. dollars. Here, consumer debt refers to student and car loans, credit cards, personal loans, mortgages, and other types of debt.

The tables and interactive maps below allow users to explore the ratio of debt to income by state, metropolitan statistical area, and county for each year since 1999. Household debt is calculated from Federal Reserve Bank of New York (FRBNY) Consumer Credit Panel/Equifax Data, and household income is reported by the Bureau of Labor Statistics.

Key information about China Household Debt

• China Household Debt reached 11,498.4 USD bn in Jan 2025, compared with the reported number of 11,347.6 USD bn in the previous month
• China Household Debt: USD mn data is updated monthly, available from Jan 2007 to Jan 2025
• The data reached an all-time high of 11,691.0 USD bn in Sep 2024 and a record low of 517.7 USD bn in Jan 2007

CEIC converts monthly Household Debt into USD. The People's Bank of China provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about China Household Debt

• In the latest reports, China Household Debt accounted for 63.3 % of the country's Nominal GDP in Mar 2023
• Money Supply M2 in China increased 44,045.8 USD bn YoY in Sep 2024
• China Foreign Exchange Reserves was measured at 3,209.0 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 13.9 Months of Import in Dec 2024
• China Domestic Credit reached 49,338.1 USD bn in Jan 2025, representing an increased of 7.9 % YoY

This dataset provides values for HOUSEHOLDS DEBT TO INCOME reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about United States Household Debt: % of GDP

• United States household debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 62.3 % in the previous quarter.
• US household debt to GDP ratio is updated quarterly, available from Mar 1999 to Dec 2024.
• The data reached an all-time high of 85.8 % in Dec 2008 and a record low of 49.4 % in Mar 1999.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Federal Reserve Board of New York provides Household Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Related information about United States Household Debt: % of GDP

• In the latest reports, US Household Debt reached 18,036.0 USD bn in Dec 2024.
• Money Supply M2 in US increased 3.9 % YoY in Jan 2025.
• US Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024.
• US Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.7 % in Dec 2024, compared with the ratio of 1.5 % in the previous quarter.

Graph and download economic data for Mortgage Debt Service Payments as a Percent of Disposable Personal Income (MDSP) from Q1 1980 to Q4 2024 about disposable, payments, mortgage, debt, personal income, percent, personal, services, income, and USA.

Clients seeking financial advice from the debt charity StepChange in the United Kingdom had on average approximately 8,000 British pounds of unsecured credit card debt in 2022. On average, the new clients of this charity owed more unsecured debt from personal loans than from any other type of credit.

Key information about Ireland Household Debt: % of GDP

• Ireland household debt accounted for 31.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 32.1 % in the previous quarter.
• Ireland household debt to GDP ratio is updated quarterly, available from Mar 2002 to Sep 2024.
• The data reached an all-time high of 123.2 % in Dec 2009 and a record low of 27.6 % in Mar 2023.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Central Bank of Ireland provides Household Debt in EUR. Central Statistics Office provides Nominal GDP in EUR. Federal Reserve Board average market exchange rate is used for currency conversions. Household Debt includes NPISH.


Related information about Ireland Household Debt: % of GDP

• In the latest reports, Ireland Household Debt reached 182.0 USD bn in Sep 2024.
• Money Supply M2 in Ireland increased 3.7 % YoY in Jan 2025.
• Ireland Foreign Exchange Reserves was measured at 5.1 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.4 Months of Import in Dec 2024.
• Ireland Domestic Credit reached 319.1 USD bn in Dec 2024, representing an increased of 2.5 % YoY.
• The country's Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.2 % in the previous quarter.

Key information about India Household Debt: % of GDP

• India household debt accounted for 17.1 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 14.9 % in the previous year.
• India household debt to GDP ratio is updated yearly, available from Mar 1998 to Mar 2024.
• The data reached an all-time high of 17.1 % in Mar 2024 and a record low of 2.2 % in Mar 1999.

CEIC calculates annual Household Debt as % of Nominal GDP from annual Household Debt and annual Nominal GDP. The Reserve Bank of India provides Household Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Consumer Durables, Housing and Rest of Personal Loans. Household Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India Household Debt: % of GDP

• In the latest reports, India Household Debt reached 617.3 USD bn in Mar 2024.
• Money Supply M2 in India increased 7.9 % YoY in Nov 2024.
• India Foreign Exchange Reserves was measured at 547.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.2 Months of Import in May 2023.
• India Domestic Credit reached 3,168.1 USD bn in Dec 2024, representing an increased of 11.1 % YoY.
• The country's Non Performing Loans Ratio stood at 2.8 % in Mar 2024, compared with the ratio of 3.9 % in the previous year.

Key information about China Household Debt: % of GDP

• China household debt accounted for 63.3 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 61.9 % in the previous quarter.
• China household debt to GDP ratio is updated quarterly, available from Mar 2007 to Mar 2023.
• The data reached an all-time high of 63.3 % in Mar 2023 and a record low of 17.9 % in Dec 2008.

CEIC calculates quarterly Household Debt as % of Nominal GDP from monthly Household Debt and quarterly Nominal GDP. The People's Bank of China provides Household Debt in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics.


Related information about China Household Debt: % of GDP

• In the latest reports, China Household Debt reached 10,834.1 USD bn in Jun 2023.
• Money Supply M2 in China increased 11.6 % YoY in May 2023.
• China Foreign Exchange Reserves was measured at 3,193.0 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Jun 2023.
• China Domestic Credit reached 43,669.0 USD bn in Jun 2023, representing an increased of 10.8 % YoY.
• The country's Non Performing Loans Ratio stood at 1.6 % in Mar 2023, compared with the ratio of 1.6 % in the previous quarter.

Key information about Mexico Household Debt

• Mexico Household Debt reached 271.8 USD bn in Dec 2024, compared with the reported number of 280.8 USD bn in the previous quarter
• Mexico Household Debt: USD mn data is updated quarterly, available from Dec 2000 to Dec 2024
• The data reached an all-time high of 320.4 USD bn in Mar 2024 and a record low of 53.5 USD bn in Dec 2000

CEIC converts quarterly Household Debt into USD. The Bank of Mexico provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Household Debt includes Mortgages and Consumer Loans.


Further information about Mexico Household Debt

• In the latest reports, Mexico Household Debt accounted for 16.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in Mexico increased 707.1 USD bn YoY in May 2023
• Mexico Foreign Exchange Reserves was measured at 211.3 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 4.3 Months of Import in Jan 2025
• Mexico Domestic Credit reached 732.4 USD bn in Dec 2024, representing an increased of 14.8 % YoY

Households Debt in France decreased to 95.35 percent of gross income in 2023 from 101.84 percent in 2022. This dataset provides - France Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Debt service ratios, interest and obligated principal payments on debt, and related statistics for households, Canada.

Key information about Turkey Household Debt

• Turkey Household Debt reached 107.8 USD bn in Jan 2025, compared with the reported number of 106.7 USD bn in the previous month
• Turkey Household Debt: USD mn data is updated monthly, available from Jan 1986 to Jan 2025
• The data reached an all-time high of 155.3 USD bn in Oct 2013 and a record low of 74.0 USD mn in Feb 1989

CEIC converts monthly Household Debt into USD. The Central Bank of the Republic of Turkey provides Household Debt in local currency. The Central Bank of the Republic of Turkey period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about Turkey Household Debt

• In the latest reports, Turkey Household Debt accounted for 10.0 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in Turkey increased 495.4 USD bn YoY in Jan 2025
• Turkey Foreign Exchange Reserves was measured at 83.5 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 3.1 Months of Import in Jan 2025
• Turkey Domestic Credit reached 589.1 USD bn in Jan 2025, representing an increased of 36.1 % YoY