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.

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 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.

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.

Households Debt in the United States decreased to 70.50 percent of GDP in the third quarter of 2024 from 70.70 percent of GDP in the second quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBM027SBOG) from Jul 2000 to Apr 2025 about revolving, credit cards, loans, consumer, banks, depository institutions, 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 amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to 21,800 U.S. dollars in 2023. While respondents had 38,000 U.S. dollars of debt in 2018, that volume decreased to 29,803 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 154,700 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 debt Educational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ten percent of the total. However, around 39 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.

Consumer Credit in the United States increased to 17.87 USD Billion in April from 8.60 USD Billion in March 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.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q4 2024 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.

Household Debt: Student Loan data was reported at 1,407.000 USD bn in Mar 2018. This records an increase from the previous number of 1,378.000 USD bn for Dec 2017. Household Debt: Student Loan data is updated quarterly, averaging 778.200 USD bn from Mar 2003 (Median) to Mar 2018, with 61 observations. The data reached an all-time high of 1,407.000 USD bn in Mar 2018 and a record low of 240.700 USD bn in Mar 2003. Household Debt: Student Loan data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s USA – Table US.KA012: Household Debt.

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.

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

United States Household Debt Service Ratio: sa data was reported at 9.843 NA in Jun 2018. This records a decrease from the previous number of 9.864 NA for Mar 2018. United States Household Debt Service Ratio: sa data is updated quarterly, averaging 11.285 NA from Mar 1980 (Median) to Jun 2018, with 154 observations. The data reached an all-time high of 13.228 NA in Dec 2007 and a record low of 9.839 NA in Dec 2012. United States Household Debt Service Ratio: sa 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.KB005: Household Debt Service and Financial Obligations Ratios: Seasonally Adjusted. Household Debt Service Ratio: sa (id: 51016902) is the ratio of total required household debt payments to total disposable income.

In early 2024, 28 percent of U.S. consumers said that their main source of personal non-mortgage debt were their credit card bills. Meanwhile, a 13 percent of respondents said that their leading source of debt were car loans. Over a third of respondents had no debt.

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.

Graph and download economic data for Total Consumer Credit Owned and Securitized (TOTALNS) from Jan 1943 to Apr 2025 about securitized, owned, consumer credit, loans, consumer, and USA.

HH Debt: Balance: New Delinquent Loan: Student Loan data was reported at 9.050 % in Mar 2020. This records a decrease from the previous number of 9.440 % for Dec 2019. HH Debt: Balance: New Delinquent Loan: Student Loan data is updated quarterly, averaging 9.878 % from Mar 2004 (Median) to Mar 2020, with 65 observations. The data reached an all-time high of 11.624 % in Mar 2013 and a record low of 7.200 % in Jun 2004. HH Debt: Balance: New Delinquent Loan: Student Loan data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.KB027: Household Debt.

The consumer debt settlement market is experiencing robust growth, driven by increasing consumer debt levels globally and a rising awareness of debt relief solutions. The market's expansion is fueled by several factors, including the rising prevalence of unsecured debt like credit card and personal loans, economic downturns impacting individual financial stability, and the increasing availability of debt settlement services through both online platforms and traditional financial advisory firms. The segment encompassing open-end loans (like credit cards) and closed-end loans (like personal loans) constitutes a significant portion of the market, reflecting the widespread nature of consumer debt. Within these segments, credit card debt relief remains a dominant area, given the high interest rates and often overwhelming balances associated with these products. Medical and private student loan debt settlement are also exhibiting significant growth, driven by escalating healthcare costs and rising tuition fees respectively. Competition among companies like Freedom Debt Relief, National Debt Relief, and others is intense, leading to innovative service offerings and increased consumer choice. This competition, however, also presents a challenge in terms of maintaining profit margins and ensuring ethical practices within the industry. Regional variations exist, with North America and Europe currently leading the market, but developing economies in Asia-Pacific are poised for substantial growth as consumer credit markets mature. The forecast period (2025-2033) anticipates continued market expansion, although the rate of growth might slightly moderate compared to the historical period (2019-2024) as the market matures. Factors potentially influencing this moderate growth include increased regulatory scrutiny of debt settlement companies, the potential for economic recovery in certain regions leading to reduced consumer need for debt relief, and ongoing efforts to educate consumers about alternative debt management strategies. Despite these factors, the long-term outlook remains positive, driven by the persistent issue of consumer debt and the ongoing need for professional debt resolution services. Further segmentation by loan type and the emergence of new technological solutions for debt management are expected to shape the market landscape in the coming years.