Top 5 This Week

Related Posts

Gen X carries the highest amount of non-mortgage debt, with millennials following closely behind

Analysis of Non-Mortgage Debt Across Generations in the U.S.

The latest analysis from online lending marketplace LendingTree reveals that Americans are carrying thousands of dollars in non-mortgage debt, with Gen Xers leading the pack. Across the 100 largest metros in the U.S., the median non-mortgage debt is $24,668, with Gen Xers owing the most at $33,859.

Millennials are not far behind, with a median non-mortgage debt of $30,558. Debt levels vary by region, with consumers in McAllen, Texas, having the highest auto debt and Gen Zers in Northeast cities like Boston and New Haven, Connecticut, carrying the highest student loan debt.

The analysis, based on over 428,000 anonymized credit reports, also highlights the debt situation by generation. Gen Xers have the highest median non-mortgage debt, with nearly 99% carrying some type of balance. Millennials are already ahead of Baby Boomers in debt, with student and auto loans being their main challenges.

Despite being the oldest generation, Baby Boomers carry less non-mortgage debt than Gen Xers and millennials. Gen Z, the youngest generation, has the lowest debt but the vast majority still carry a balance. The analysis provides insights into the debt landscape across different generations and regions in the U.S.


Please enter your comment!
Please enter your name here

Popular Articles