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 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.

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: % 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.

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.

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.

In the third quarter of 2024, household debt in the United States amounted to over 71.66 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2023, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

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.

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.

United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FNMA data was reported at 10.200 USD bn in 2017. This records a decrease from the previous number of 12.131 USD bn for 2016. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FNMA data is updated yearly, averaging 12.131 USD bn from Dec 1949 (Median) to 2017, with 69 observations. The data reached an all-time high of 2,605.083 USD bn in 2009 and a record low of 0.000 USD mn in 1980. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FNMA data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB010: Mortgage Debt Outstanding: Annual.

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

United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: PMC data was reported at 475.827 USD bn in 2017. This records a decrease from the previous number of 517.368 USD bn for 2016. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: PMC data is updated yearly, averaging 12.349 USD bn from Dec 1949 (Median) to 2017, with 69 observations. The data reached an all-time high of 2,234.065 USD bn in 2007 and a record low of 0.000 USD mn in 1979. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: PMC data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB010: Mortgage Debt Outstanding: Annual.

United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FHLMC data was reported at 10.817 USD bn in 2017. This records an increase from the previous number of 5.016 USD bn for 2016. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FHLMC data is updated yearly, averaging 9.657 USD bn from Dec 1949 (Median) to 2017, with 69 observations. The data reached an all-time high of 1,824.656 USD bn in 2009 and a record low of 0.000 USD mn in 1970. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: FHLMC data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB010: Mortgage Debt Outstanding: Annual.

United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: GNMA data was reported at 1,804.764 USD bn in 2017. This records an increase from the previous number of 1,667.502 USD bn for 2016. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: GNMA data is updated yearly, averaging 155.950 USD bn from Dec 1949 (Median) to 2017, with 69 observations. The data reached an all-time high of 1,804.764 USD bn in 2017 and a record low of 0.000 USD mn in 1969. United States Mortgage Debt: 1 to 4 Family Res: Mortgage or Pool Trusts: GNMA data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB010: Mortgage Debt Outstanding: Annual.

Household debt to GDP, in percent in the USA, September, 2024 The most recent value is 70.5 percent as of September 2024, a decline compared to the previous value of 70.7 percent. Historically, the average for the USA from March 1990 to September 2024 is 76.89 percent. The minimum of 60.2 percent was recorded in March 1990, while the maximum of 98.6 percent was reached in December 2007. | TheGlobalEconomy.com

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.

Graph and download economic data for Households and Nonprofit Organizations; Debt Securities and Loans Excluding One-to-Four-Family Residential Mortgages and Consumer Credit; Liability, Level (BOGZ1FL154104905A) from 1945 to 2024 about nonprofit organizations, consumer credit, mortgage, liabilities, debt, securities, loans, households, consumer, housing, and USA.

Key information about France Household Debt: % of GDP

• France household debt accounted for 74.2 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 77.8 % in the previous year.
• France household debt to GDP ratio is updated yearly, available from Dec 1977 to Dec 2023.
• The data reached an all-time high of 81.0 % in Dec 2020 and a record low of 19.6 % in Dec 1977.

CEIC calculates annual Household Debt as % of Nominal GDP from quarterly Household Debt and annual Nominal GDP. The Banque de France provides Household Debt in EUR. National Institute of Statistics and Economic Studies provides Nominal GDP in EUR. Household Debt includes Sole Proprietorship.


Related information about France Household Debt: % of GDP

• In the latest reports, France Household Debt reached 2,335.5 USD bn in Sep 2024.
• Money Supply M2 in France increased 0.8 % YoY in Nov 2024.
• France Foreign Exchange Reserves was measured at 29.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.5 Months of Import in Nov 2024.
• France Domestic Credit reached 5,416.5 USD bn in Oct 2024, representing an increased of 1.4 % YoY.
• The country's Non Performing Loans Ratio stood at 2.4 % in Dec 2021, compared with the ratio of 2.7 % in the previous year.

Households Debt in Canada decreased to 99.58 percent of GDP in the first quarter of 2025 from 100.39 percent of GDP in the fourth quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Households and Nonprofit Organizations; Debt Securities and Loans Excluding One-to-Four-Family Residential Mortgages and Consumer Credit; Liability, Revaluation (BOGZ1FR154104905A) from 1946 to 2024 about revaluation, nonprofit organizations, consumer credit, mortgage, liabilities, debt, securities, loans, households, consumer, housing, and USA.