How much debt does the average person in the US owe?
Refreshed quarterly
Americans owe $63,500 in debt on average, as of the first quarter of 2026. Compared to the previous quarter (October through December 2025), the average adult owed $870 less after adjusting for inflation, reflecting slight shifts in household borrowing patterns. This debt, often referred to as “household debt,” represents the total amount owed by individuals for obligations such as mortgages, student loans, credit cards, and auto loans.
These figures represent the average debt owed by US residents with a credit score, which includes roughly 80% of adults. While this gives a general sense of Americans’ debt burdens, remember that actual individual debt varies — some carry much more or less debt than this average.
$63.5K
in debt owed by the average person with a credit score (Q1 2026)
$870
less debt owed by US residents with a credit score (Q4 2025 vs Q1 2026, adjusted for inflation)
Debt levels also fluctuate over time, especially during times of economic instability. According to the Federal Reserve Bank of New York, household debt increased in the early 2000s, largely driven by housing debts like mortgages. Following the downturn in home prices and the onset of the Great Recession in late 2007, people began paying off their existing loans while taking out fewer new loans, leading to a decline in overall debt levels.
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This decline continued until around 2013 when household debt levels began to increase again. After adjusting for inflation, household debt levels in 2026 were $1,200 (1.9%) higher than they were in 2013 and $13,900 (18%) lower than they were at the peak in 2007.
The average American owed $63,500 in debt in Q1 2026
Quarterly household debt per capita for people with a credit score, adjusted for inflation (Q1 2026)
How much do households owe in mortgage debt?
While household debt takes many forms — student loans, auto loans, credit card balances — mortgage debt accounted for around 70.1% of all household debt in 2025. Mortgages, typically loans taken to purchase homes, are often the largest and longest-term financial commitments for many households. The high cost of housing combined with extended repayment periods (usually five to 30 years) contributes to mortgage debts’ outsized share of overall household debt.
Mortgage debt made up around 70.1% of all household debt in 2025
Annual household debt per capita for people with a credit score, adjusted for inflation (2025)
What other types of debt are most common?
Non-mortgage household debt is dominated by vehicle and educational debt. On average, auto loans and student loans currently make up 29.9% and 28.9% of non-mortgage debt, respectively. Educational debt more than tripled between 2003 and 2020, and it decreased 21.3% between 2020 and 2025.
Auto loans made up the largest proportion of non-mortgage debt in 2025
Annual household debt per capita for people with a credit score, adjusted for inflation (2025)
What is the debt-to-income ratio? How does it vary by state?
Another important aspect of household debt is the debt-to-income ratio. This ratio compares how much debt a person carries with how much income they earn in a year. If the ratio is greater than 1, it means that, on average, people owe more than they earn annually. This can indicate a heavier financial burden and make it harder to keep up with payments.
Debt-to-income ratios vary from state to state because of differences in income levels, housing costs, and borrowing habits. In 2025, Hawaii had the highest debt-to-income ratio in the country with 2.03, which means that for every dollar earned, the average Hawaii resident owes $2.03. Alternatively, in New York, residents have around $0.89 in debt for every $1 of income, the lowest ratio of any state.
Washington, DC, an entirely urban federal district, had a lower debt-to-income ratio than any state, owing $0.49 for every $1 earned.
Hawaii had the highest debt-to-income ratio in the US in 2025
Annual household debt, excluding student loans, compared to annual household income
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
