A recent article on Credio.com, a new website that provides comparisons for financial products and services, compiled data from the Federal Reserve Bank of New York to chart how U.S. debt has changed over time. Mortgages, auto loans, credit cards and student loans were tracked.
The site then ranked states according to indebtedness. How do these figures compare to the average balances of your members?
No. 15: Delaware
Total debt: $47,150
Average student loan debt: $4,600
Average auto loan debt: $3,780
Average credit card debt: $2,810
Average mortgage debt: $35,960
No. 14: New Hampshire
Total debt: $47,350
Average student loan debt: $5,000
Average auto loan debt: $4,320
Average credit card debt: $3,170
Average mortgage debt: $34,860
No. 13: Minnesota
Total debt: $47,610
Average student loan debt: $5,550
Average auto loan debt: $3,260
Average credit card debt: $2,930
Average mortgage debt: $35,870
No. 12: Utah
Total debt: $48,060
Average student loan debt: $3,620
Average auto loan debt: $4,150
Average credit card debt: $2,610
Average mortgage debt: $37,680
No. 11: Alaska
Total debt: $51,330
Average student loan debt: $3,640
Average auto loan debt: $4,690
Average credit card debt: $3,830
Average mortgage debt: $39,170
No. 10: New Jersey
Total debt: $53,170
Average student loan debt: $4,970
Average auto loan debt: $3,410
Average credit card debt: $3,510
Average mortgage debt: $41,280
No. 9: Connecticut
Total debt: $53,480
Average student loan debt: $4,760
Average auto loan debt: $3,050
Average credit card debt: $3,370
Average mortgage debt: $42,300
No. 8: Washington
Total debt: $54,320
Average student loan debt: $3,710
Average auto loan debt: $3,350
Average credit card debt: $3,100
Average mortgage debt: $44,160
No. 7: Massachusetts
Total debt: $54,880
Average student loan debt: $5,310
Average auto loan debt: $3,130
Average credit card debt: $3,180
Average mortgage debt: $43,260
No. 6: Colorado
Total debt: $57,530
Average student loan debt: $5,150
Average auto loan debt: $3,870
Average credit card debt: $3,230
Average mortgage debt: $45,280
No. 5: Virginia
Total debt: $58,250
Average student loan debt: $4,680
Average auto loan debt: $3,920
Average credit card debt: $3,330
Average mortgage debt: $46,320
No. 4: Hawaii
Total debt: $60,390
Average student loan debt: $3,010
Average auto loan debt: $2,950
Average credit card debt: $3,360
Average mortgage debt: $51,070
No. 3: California
Total debt: $62,210
Average student loan debt: $3,890
Average auto loan debt: $3,420
Average credit card debt: $3,050
Average mortgage debt: $51,850
No. 2: Maryland
Total debt: $63,300
Average student loan debt: $5,480
Average auto loan debt: $4,200
Average credit card debt: $3,320
Average mortgage debt: $50,300
No. 1: Washington, D.C.
Total debt: $76,080
Average student loan debt: $11,260
Average auto loan debt: $2,420
Average credit card debt: $3,470
Average mortgage debt: $58,930
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