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

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.

The home mortgage debt of households and nonprofit organizations amounted to approximately 13.3 trillion U.S. dollars in the first quarter of 2024. Mortgage debt has been growing steadily since 2014, when it was less than 10 billion U.S. dollars and has increased at a faster rate since the beginning of the coronavirus pandemic due to the housing market boom. Home mortgage sector in the United States Home mortgage sector debt in the United States has been steadily growing in recent years and is beginning to come out of a period of great difficulty and problems presented to it by the economic crisis of 2008. For the previous generations in the United States, the real estate market was quite stable. Financial institutions were extending credit to millions of families and allowed them to achieve ownership of their own homes. The growth of the subprime mortgages and, which went some way to contributing to the record of the highest US homeownership rate since records began, meant that many families deemed to be not quite creditworthy were provided the opportunity to purchase homes. The rate of home mortgage sector debt rose in the United States as a direct result of the less stringent controls that resulted from the vetted and extended terms from which loans originated. There was a great deal more liquidity in the market, which allowed greater access to new mortgages. The practice of packaging mortgages into securities, and their subsequent sale into the secondary market as a way of shifting risk, was to be a major factor in the formation of the American housing bubble, one of the greatest contributing factors to the global financial meltdown of 2008.

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 United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United States Government Debt: % of GDP

• United States Government debt accounted for 124.0 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 123.1 % in the previous quarter.
• US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Dec 2024.
• The data reached an all-time high of 130.4 % in Mar 2021 and a record low of 31.8 % in Sep 1974.

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025.
• The country's Nominal GDP reached 6,632.4 USD bn in Mar 2023.

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, personal income, debt, percent, households, personal, income, services, and USA.

Government Debt in the United States increased to 36916987 USD Million in July from 36211469 USD Million in June of 2025. This dataset provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In early 2024, Texas was one of the U.S. states with the highest debt balances from car loans. The car loan debt balance per capita in the United States as a whole was 5,6500 U.S. dollars. That figure is the result of dividing the total debt balance for that type of loan by the number of people living in the U.S., even those who do not have any car loan debt at all. That means that this figure is not representative of the amount of debt that an individual with a car loan has. In fact, the average car loan debt of people with some debt of that type in the U.S. is significantly higher.

Graph and download economic data for Federal Debt: Total Public Debt (GFDEBTN) from Q1 1966 to Q1 2025 about public, debt, federal, government, and USA.

Summarizes the U.S. government's total outstanding debt at the end of each fiscal year from 1789 to the current year.

Graph and download economic data for Gross Federal Debt as Percent of Gross Domestic Product (GFDGDPA188S) from 1939 to 2023 about gross, debt, federal, GDP, and USA.

Total outstanding debt of the U.S. government reported daily. Includes a breakout of intragovernmental holdings (federal debt held by U.S. government) and debt held by the public (federal debt held by entities outside the U.S. government).

Interactive chart of historical data comparing the level of gross domestic product (GDP) with Federal 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.

Graph and download economic data for Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S) from Q1 1970 to Q1 2025 about public, debt, federal, GDP, and USA.

As of the third quarter of 2024, the levels of debt from consumer lending in the United States amounted to over five trillion U.S. dollars. The consumer credit debt of households and nonprofit organizations increased steadily in the last decade. Throughout that period, the outstanding consumer credit in the U.S. has also been growing.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q1 2025 about foreign, debt, federal, and USA.

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Debt Financing Market Size 2025-2029

The debt financing market size is forecast to increase by USD 7.89 billion at a CAGR of 6.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the tax advantages of debt financing for businesses. The ability to deduct interest payments from taxable income makes debt financing an attractive option for companies seeking capital. Another key trend in the market is the increasing collaboration and mergers and acquisitions (M&A) activity, which often involves the use of debt financing to fund transactions. However, it is important to note that collateral may be necessary for some forms of debt financing, adding layer of complexity to the process.
Companies seeking to capitalize on these opportunities must navigate the challenges of securing adequate collateral and managing debt levels to maintain financial health and wellness. Effective debt management strategies, such as optimizing debt structures and maintaining strong credit ratings, will be essential for companies looking to succeed in this dynamic market. Debt financing is a significant component of the regional capital markets, with financial institutions, banks, and insurance companies serving as major players.

What will be the Size of the Debt Financing Market during the forecast period?

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The market encompasses various debt instruments issued by entities to secure funds for business operations and growth. Market dynamics are influenced by several factors, including interest rate cycles, monetary policy, and economic growth. Basel Accords and the Financial Stability Board set standards for financial institutions' risk management and capital adequacy, impacting debt issuance. Government debt, securitization transactions, and various debt instruments like interest rate swaps, loan-to-value ratios, and credit-linked notes, shape the market landscape. Market volatility, driven by factors such as business cycles, credit spreads, and risk appetite, influences investor sentiment. Debt sustainability, fiscal policy, and ESG investing are increasingly important considerations for issuers and investors.
Asset managers are focusing on leveraging technology and data analytics to improve operational efficiency and meet the evolving needs of investors. The market is, however, not without challenges, with regulatory compliance and interest rate risks being major concerns. Overall, the income asset management market in North America is poised for steady growth, driven by the demand for debt financing and wealth management solutions, and the increasing adoption of advanced analytics and ETFs.

How is this Debt Financing Industry segmented?

The debt financing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Private
  Public


Type

  Long-term
  Short-term
  Long-term


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    Japan
    South Korea


  Middle East and Africa



  South America

By Source Insights

The private segment is estimated to witness significant growth during the forecast period. Debt financing is a popular financing method for businesses seeking to expand operations while maintaining ownership. Private debt financing, in particular, has gained significant traction among financial specialists worldwide due to its importance in funding small- and mid-sized organizations globally. The demand for debt financing by startups has increased annually, leading to the sector's substantial growth over the last five years. This financing option's flexibility enables businesses to customize their financing solutions to address specific needs, making it an allure for numerous organizations. Private debt financing encompasses various instruments such as Real Estate Debt, Term Loans, Leveraged Buyouts, Asset Securitization, Infrastructure Financing, Loan Servicing, and more.

Financial Leverage, Debt Covenants, Credit Risk, and Interest Rate Risk are essential considerations in this sector. Hedge Funds, Collateralized Loan Obligations, High Yield Debt, and Investment Grade Debt are alternative investment areas. Private Equity, Syndicated Loans, Venture Debt, Bridge Financing, and Mezzanine Financing are also integral components. Financial Institutions offer various debt financing solutions, including Capital Markets, Expansion Financing, Growth Capital, Debt Refinancing, and Debt Consolidation. Financial Modeling, Return on Investment, and Risk Management are crucial aspects of debt financing. Debt Advisory, Financial Engineering, and Debt Capital Markets are essential services in this field. Small Business Loans,