Are most U.S. citizens in debt?

Yes, the vast majority of Americans carry some form of debt, with estimates suggesting around 80% of adults have debt, encompassing mortgages, student loans, auto loans, and credit cards, making debt a very common aspect of U.S. household finances, though the amounts vary significantly by generation and income. Only about 23% of Americans are entirely debt-free.

What percentage of Americans are in debt?

A large majority of Americans carry some form of debt, with estimates around 80% of households having debt, encompassing mortgages, auto loans, student loans, and credit cards, though the specific percentage varies slightly by source and debt type. For example, roughly 77% of households have debt, while 81.5% of consumers have credit card balances (though not all carry a balance monthly). 

What percent of US citizens have no debt?

What percentage of America is debt-free? The number may be lower than you think. Federal Reserve data shows that about 23% of Americans have no debt.

How many Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve.

How many Americans have $20,000 in credit card debt?

A majority of Americans (53%) carry some, with an average balance of $7,719. However, a third of those carrying debt (32%) owe $10,000 or more, while almost 1 in 10 (9%) have credit card debt over $20,000.

Americans borrowing more than ever as debt level hits record

What is the credit card limit for $70,000 salary?

The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.

What is the average credit card debt total for a US citizen?

The average American credit card debt hovers around $6,500 to $7,300, depending on the source and quarter in 2025, with figures like $6,523 (TransUnion, Q3 2025) and $7,321 (LendingTree, Q1 2025) commonly cited, reflecting increased living costs, and debt levels varying significantly by age, with Gen X and Millennials often carrying higher balances than Boomers.
 

Is being debt-free the new rich?

Yes, for many people, being debt-free feels like the new rich because it provides immense financial freedom, peace of mind, and security, even if it doesn't mean having millions in the bank; it shifts the definition of wealth from pure income to a lack of financial burdens, allowing for more saving, investing, and enjoying life without stress. While traditional wealth is assets minus liabilities, eliminating debt frees up income for wealth-building, making it a significant step towards financial well-being and independence, especially as many struggle with rising costs and stagnant wages. 

What percentage of Americans are struggling financially?

A significant portion of Americans struggle financially, with recent data showing around one-third (32%) in crisis or struggling, nearly half (49%) living paycheck to paycheck, and many finding basic necessities hard to afford, highlighting broad economic strain across different demographics. While some reports show percentages around 27% reporting "just getting by" or "difficult to get by," other measures, like living paycheck to paycheck or struggling with expenses, suggest the struggle impacts far more, possibly up to 67% or more when considering various aspects like debt and unexpected costs. 

Which gender has more debt?

Men have 2 percent more credit card debt than women. Men have 9.7 percent more mortgage debt than women. Men have 20 percent more personal loan debt than women. Women have 2.7 percent more student loan debt than men.

What is considered a lot of debt?

A lot of debt is generally considered to be when your Debt-to-Income (DTI) ratio exceeds 43%, meaning over 43% of your gross monthly income goes to debt payments, signaling high risk; however, debt becomes a problem when it causes stress, prevents savings, or requires minimum payments, with a DTI over 36% considered high and 43%+ risky, and the type of debt (high-interest credit cards vs. low-interest mortgages) and your ability to cover essentials also matter significantly. 

What is the average retirement savings?

The average retirement savings for all U.S. families is around $334,000, but the median is much lower at $87,000, highlighting a large gap due to high earners skewing the average. Savings vary significantly by age, with younger generations having much less, and older age groups (like 65-74) showing higher figures, such as a median of $200,000, though many Americans still lack sufficient savings.
 

What is the average mortgage debt?

The average U.S. mortgage debt is around $250,000 - $270,000 as of late 2024/2025, varying slightly by data source, with Millennials often holding the highest average balances, while older generations tend to have lower averages as they pay down loans, though newer high-rate mortgages are impacting overall averages. For instance, in late 2025, TransUnion data reported an average of $268,060, while Experian data showed about $250,479 in 2024, with balances climbing. 

How many people don't pay hospital bills?

In fact, 41 percent of working-age Americans—or 72 million people—have medical bill problems or are paying off medical debt, up from 34 percent in 2005. If you add in the 7 million elderly adults who are also dealing with these issues, a total of 79 million Americans have medical bill or debt problems.

What percentage of Americans are mortgage free?

According to ResiClub's analysis of the U.S. Census Bureau's new annual data, 40.3% of U.S. owner-occupied housing units are now mortgage-free, marking a new high for this data series. That's up from 39.8% in 2023.

What is the average mortgage balance?

The average U.S. mortgage balance is around $250,000 to $270,000, with recent data from 2024/2025 showing figures like $252,505 (Experian, 2024) and $258,214 (Experian, mid-2025), though this varies significantly by location, generation, and home price. While some areas see averages over $1 million, others have lower balances, with Millennials and Gen X generally holding higher amounts than Gen Z or Baby Boomers, but younger generations are seeing faster growth in debt, say Credit Karma and Experian. 

What state is #1 in poverty?

Mississippi consistently ranks as the U.S. state with the highest poverty rate, often followed closely by states like Louisiana, New Mexico, West Virginia, and Kentucky, though rankings shift slightly by year and data source (Official vs. Supplemental Poverty Measure). Mississippi struggles with low median incomes, low educational attainment, and high rates of child poverty, making it the poorest state by several metrics, according to World Population Review and other sources.
 

What percentage of Americans have $100,000 in their savings?

How many Americans have $100,000 in savings? According to one 2023 survey, only 14% of Americans have at least $100,000 in savings.

What is the 3 6 9 rule of money?

Those general saving targets are often called the “3-6-9 rule”: savings of 3, 6, or 9 months of take-home pay. Here are some guidelines to help you decide what total savings fits your needs.

Which actor wiped out debt for 900 families?

Actor Michael Sheen paid off $1.3 million worth of debt for his neighbors. Plus, this guy has been diving for lost golf balls for 30 years.

Is $100,000 a year considered wealthy?

Earning $100,000 a year puts you above average in the U.S. and often into the "upper-middle class," but whether it feels "rich" depends heavily on your location (cost of living), household size, debt, and lifestyle, as it may cover basics comfortably in some areas but feel tight in expensive cities or with dependents. It's considered a strong salary, allowing for savings and a good lifestyle, but not "wealthy" like the top 1-5% of earners, who make significantly more. 

At what age should you be debt-free?

By the age of 50 it is ideal to be debt-free, and your retirement savings should be enough to give you a comfortable life. Retiring with debt can be a stressful.

What is the average retirement savings debt?

A brief analysis of the 2022 round of the Survey of Consumer Finance indicates that the middle 70% of households by income that are aged 50-65 have a median retirement account savings of $86,000, while also having a median debt of $89,700.

Is it better to pay off credit card debt or save?

Key takeaways. If the interest rate on your debt is 6% or greater, you should generally pay down debt before investing additional dollars toward retirement. This guideline assumes that you've already put away some emergency savings, you've fully captured any employer match, and you've paid off all credit card debt.

What state has the worst credit card debt?

Alaska currently tops the list, with the average Alaskan consumer carrying $8,077 in credit-card debt as of Q3 2024. Alaska has historically ranked high in revolving-credit balances, but the latest increase reinforces that it remains the most indebted state on a per-consumer basis.