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Overall, U.S. household debt increased by 4.3% from Q2 2023 to Q2 2024. Home equity revolving credit had the highest YoY increase at 11.8%, while credit card debt came in second at 10.8%.
American households carry a total of $17.796 trillion of debt and average $104,215 per household. Total debt is at an all-time high as of the second quarter of 2024, according to the Federal...
Total household debt rose to an average of $17.80 trillion in the second quarter of 2024, with credit card balances alone reaching a high of $1.14 trillion, according to the Federal Reserve...
According to the U.S. Census Bureau, the median household income in the U.S. was $74,580 in 2022. In the same year, the Survey of Consumer Finances found that median household debt was $80,200.
The average American debt is over $104,000 per person in 2024, mostly in mortgages and student loans. Here's the average debt in America.
Average Debt per Household: $148,266. Total Debt-to-Deposits Ratio: 24% below historical average. Total Debt-to-Assets Ratio: 22% below historical average.
Total household debt rose by $109 billion to reach $17.80 trillion, according to the latest Quarterly Report on Household Debt and Credit. Mortgage balances were up $77 billion to reach $12.52 trillion, while auto loans increased by $10 billion to reach $1.63 trillion and credit card balances increased by $27 billion to reach $1.14 trillion.
Aggregate household debt balances increased by $184 billion in the first quarter of 2024, a 1.1% rise from 2023Q4. Balances now stand at $17.69 trillion and have increased by $3.5 trillion since the end of 2019, just before the pandemic recession.
The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.
United States Household Debt reached 17,796.0 USD bn in Jun 2024, compared with the reported number of 17,687.0 USD bn in the previous quarter See the table below for more data. Household Debt by Country Comparison. Accurate Macro & Micro Economic Data You Can Trust.