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.

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.

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 the 3rd quarter 2024. That year, the average credit card debt of the generation Z amounted to approximately ***** U.S. dollars. People in the silent generation had a credit card balance of roughly ***** U.S. dollars.

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.

In 2024, the average student loan debt of graduates of Northwestern University, ranked as the 6th best college in the United States, amounted to 36,425 U.S. dollars. For students at Princeton University, classified as the best U.S. college in that year, they left college with student loan debt totaling 17,494 U.S. dollars on average.

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.

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.

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.

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.

Private Debt to GDP in the United States decreased to 142 percent in 2024 from 147.50 percent in 2023. United States Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-07-02 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

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.

For those graduating college in the United States in 2020, five-figure debt was the norm across all states. Students in New Hampshire had the highest debt levels in the country, at 39,928 U.S. dollars on average. The lowest average amount of debt that students had was in the state of Utah at 18,344 U.S. dollars.

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

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 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.

American Financial debt/equity ratio for the quarter ending March 31, 2025 was 0.34. American Financial average debt/equity ratio for 2024 was 0.33, a 10.81% increase from 2023. American Financial average debt/equity ratio for 2023 was 0.37, a 5.13% decline from 2022. American Financial average debt/equity ratio for 2022 was 0.39, a 52.44% decline from 2021. Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.

United States Mortgage Debt Outstanding: Effective Interest Rate data was reported at 3.799 % in Mar 2020. This records a decrease from the previous number of 3.872 % for Dec 2019. United States Mortgage Debt Outstanding: Effective Interest Rate data is updated quarterly, averaging 7.677 % from Mar 1977 (Median) to Mar 2020, with 173 observations. The data reached an all-time high of 11.449 % in Mar 1985 and a record low of 3.750 % in Dec 2017. United States Mortgage Debt Outstanding: Effective Interest Rate data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.KB025: Mortgage Interest Paid. [COVID-19-IMPACT]