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

Households Debt in the United States decreased to 69.20 percent of GDP in the fourth quarter of 2024 from 70.50 percent of GDP in the third quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBM027SBOG) from Jul 2000 to Jun 2025 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

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.

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.

The average consumer debt balance in the United States has peaked in 2024 at roughly ******* U.S. dollars. However, average consumer debt had decreased between 2010 and 2013, when it reached approximately ****** U.S. dollars. Here, consumer debt refers to student and car loans, credit cards, personal loans, mortgages, and other types of debt.

Consumers in the United States had over **** trillion dollars in debt as of the first quarter of 2025. The majority of that debt were home mortgages, amounting to approximately **** trillion U.S. dollars. Student and car loans were the second and third largest component of household debt. Why is consumer debt important? Debt influences the Consumer Sentiment Index, which is an important indicator assessing the state of the U.S. economy. The U.S. housing market is also seen a bellwether of the economic conditions in the country. The housing industry employs a large number of people, and mortgages are large investments that consumers will pay off over the course of years, sometimes decades. Because of this, financial analysts closely watch consumer debt and its effects on the demand for housing. Attitudes towards debt Consumer perception of debt differed, depending on the kind of debt in question. While most saw a home mortgage as a positive investment, they increasingly looked at student loan debt as a negative debt. With education costs increasing, people are incurring more student loan debt in the United States. Credit card debt also had negative connotations.

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.

Key information about Hungary Household Debt: % of GDP

• Hungary household debt accounted for 20.4 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 19.9 % in the previous quarter.
• Hungary household debt to GDP ratio is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 45.4 % in Jun 2010 and a record low of 8.4 % in Mar 1999.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Magyar Nemzeti Bank provides Household Debt in local currency. Hungarian Central Statistical Office provides Nominal GDP in local currency.


Related information about Hungary Household Debt: % of GDP

• In the latest reports, Hungary Household Debt reached 44.6 USD bn in Sep 2024.
• Money Supply M2 in Hungary increased 7.7 % YoY in Dec 2024.
• Hungary Foreign Exchange Reserves was measured at 36.6 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 3.2 Months of Import in Jan 2025.
• Hungary Domestic Credit reached 117.4 USD bn in Dec 2024, representing an increased of 10.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.7 % in Sep 2024, compared with the ratio of 1.8 % in the previous quarter.

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.

Key information about Hong Kong SAR (China) Household Debt: % of GDP

• Hong Kong SAR (China) household debt accounted for 87.8 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 88.8 % in the previous quarter.
• Hong Kong SAR (China) household debt to GDP ratio is updated quarterly, available from Mar 1982 to Dec 2024.
• The data reached an all-time high of 96.2 % in Mar 2023 and a record low of 14.6 % in Jun 1982.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Hong Kong Monetary Authority provides Household Debt in local currency. Census and Statistics Department provides Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Mortgages and Consumer Loans. Household Debt prior to Q4 2018 excludes Working Capital Loans.


Related information about Hong Kong SAR (China) Household Debt: % of GDP

• In the latest reports, Hong Kong SAR (China) Household Debt reached 359.2 USD bn in Dec 2024.
• Money Supply M2 in Hong Kong SAR (China) increased 7.3 % YoY in Dec 2024.
• Hong Kong SAR (China) Foreign Exchange Reserves was measured at 421.3 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.3 Months of Import in May 2023.
• Hong Kong SAR (China) Domestic Credit reached 1,011.8 USD bn in Oct 2024, representing an drop of 0.2 % YoY.
• The country's Non Performing Loans Ratio stood at 2.2 % in Sep 2024, compared with the ratio of 2.1 % in the previous quarter.

Credit card debt in the United States has been growing at a fast pace between 2021 and 2025. In the fourth quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from *** billion U.S. dollars in the last quarter of 2019 to *** billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2025. That year, the penetration rate of credit cards in the United States was ** percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2024, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.

Debt Balance Credit Cards in the United States decreased to 1.18 Trillion USD in the first quarter of 2025 from 1.21 Trillion USD in the fourth quarter of 2024. This dataset includes a chart with historical data for the United States Debt Balance Credit Cards.

Consumer Credit in the United States decreased to 5.10 USD Billion in May from 16.87 USD Billion in April of 2025. This dataset provides the latest reported value for - United States Consumer Credit Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Debt Balance Total in the United States increased to 18.20 USD Trillion in the first quarter of 2025 from 18.04 USD Trillion in the fourth quarter of 2024. This dataset includes a chart with historical data for the United States Debt Balance Total.

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 Household Debt to GDP for Republic of Korea (HDTGPDKRQ163N) from Q4 2005 to Q1 2023 about Korea, debt, households, and GDP.

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.

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.