This Is the State Where People Have the Most Debt, Data Shows

·3 min read

If you're like 80 percent of Americans, the Pew Research Center says, your personal finances are saddled with some form of debt—and most types are dramatically on the rise. According to a 2020 survey from the credit bureau Experian, consumer debt has increased a shocking 31 percent overall since 2010. Between 2019 and 2020 alone, personal loans have risen 6 percent, mortgage debt by 7 percent, and student loans by 12 percent during that same time period. While strategic borrowing can be part of a sound long-term investment plan in your housing, education, and more, many Americans become trapped in a cycle of debt that's difficult to escape. But just how much debt does the average person have and how does that differ from state to state?

Finance site GOBankingRates surveyed more than 2,500 Americans in 2019 about their debts, probing the details of their total money owed, including mortgage rates, student loans, medical debt, auto loans, credit card debt, and more. They found that where you live may contribute to whether you're in the red or the black. Based on their findings, we at Best Life ranked every state's average debt from lowest to highest, so read on to see how much debt people have in your state and which state is in the deepest debt.

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50

Alaska

Average debt: $2,286.43

49

Louisiana

Average debt: $6,139.85

48

South Dakota

Average debt: $6,738.38

47

Nebraska

Average debt: $8,426

46

Delaware

Average debt: $8,583.75

45

West Virginia

Average debt: $9,253.92

44

Idaho

Average debt: $9,300.55

43

Georgia

Average debt: $13,229.68

42

Ohio

Average debt: $14,769.86

41

Kentucky

Average debt: $16,060.05

40

Arkansas

Average debt: $18,790.17

39

Missouri

Average debt: $19,011.72

38

Tennessee

Average debt: $20,466.45

37

Utah

Average debt: $21,715.38

36

Michigan

Average debt: $21,718.89

35

Arizona

Average debt: $22,037.88

34

New Mexico

Average debt: $22,325.06

33

Alabama

Average debt: $23,902.26

32

Mississippi

Average debt: $24,083.34

31

New Hampshire

Average debt: $24,091

30

North Carolina

Average debt: $28,089.26

29

Vermont

Average debt: $30,000.09

28

Pennsylvania

Average debt: $30,277.44

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27

Connecticut

Average debt: $32,045.45

26

Washington

Average debt: $32,562.97

25

Iowa

Average debt: $33,594.07

24

Rhode Island

Average debt: $34,454.64

23

Florida

Average debt: $34,468.59

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22

Colorado

Average debt: $34,925.25

21

Kansas

Average debt: $35,217.05

20

North Dakota

Average debt: $36,012.50

19

California

Average debt: $38,890.97

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18

New Jersey

Average debt: $39,070.92

17

Wisconsin

Average debt: $39,203.34

16

Massachusetts

Average debt: $42,003.81

15

South Carolina

Average debt: $43,110.51

14

Montana

Average debt: $46,740

13

Oregon

Average debt: $54,865.90

12

New York

Average debt: $70,153.60

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11

Wyoming

Average debt: $76,844.63

10

Virginia

Average debt: $81,194.04

9

Maine

Average debt: $91,183.42

8

Illinois

Average debt: $98,309.16

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7

Minnesota

Average debt: $113,455.30

6

Nevada

Average debt: $165,739.71

5

Indiana

Average debt: $166,844.21

4

Oklahoma

Average debt: $174,838.92

3

Texas

Average debt: $185,583.79

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2

Maryland

Average debt: $284,851.41

1

Hawaii

Average debt: $869,250

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