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States with the most debt

  • States with the most debt
    1/ wutzkohphoto // Shutterstock

    States with the most debt

    If you find your debts growing—despite well-intentioned efforts to pay them down—you’re far from alone. Americans have racked up a whopping $12.96 trillion in total household debt as of September 2017, a new peak according to the Federal Reserve Bank of New York.

    The biggest chunk of this debt is mortgage balances, which have crept up to $8.47 trillion—though that figure’s still lower than the 2008 housing bubble high of $9.3 trillion. The more worrying figure is student loans: both Forbes as well as the above report by the New York Fed have noted the dangers of young people taking on risky amounts of debt.

    Credit card debt and auto loans have also grown since the recession, although median credit scores of borrowers have also increased. All that debt means Americans tend to owe more than people in other developed countries—Slate points out that the U.S. has more household debt relative to GDP than Germany, France, Italy, and Spain, though less than Canada, South Korea, Australia, and the U.K.

    Of course, not all Americans spend alike. According to SmartAsset, California—the state with the most debt per capita—has accrued twice as much debt as West Virginia, the least indebted on the list. In general, wealthier states tend to be bigger borrowers, with higher-income states taking on more debt than the poorer ones.

    To figure out the debt load of each state, SmartAsset calculated debt-to-income ratios by dividing the 2015 total debt per capita data according to the Federal Reserve Bank of New York by the median income data disclosed in the U.S. Census Bureau’s 2015 5-year American Community Survey. Stacker has compiled and ranked the info among all 50 states and Washington D.C.—read on to see how your state compares to its neighbors.

  • #51: West Virginia
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    #51: West Virginia

    Median Individual Income: $22,771

    Overall Debt Per Capita: $27,520

    Debt-to-Income Ratio: 1.21

  • #50: North Dakota
    3/ anned // Pixabay

    #50: North Dakota

    Median Individual Income: $31,782

    Overall Debt Per Capita: $39,510

    Debt-to-Income Ratio: 1.24

  • #49: Oklahoma
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    #49: Oklahoma

    Median Individual Income: $25,477

    Overall Debt Per Capita: $31,930

    Debt-to-Income Ratio: 1.25

  • #48: Kansas
    5/ Kzollman // Wikicommons

    #48: Kansas

    Median Individual Income: $28,576

    Overall Debt Per Capita: $35,820

    Debt-to-Income Ratio: 1.25

  • #47: Nebraska
    6/ Falkenpost // Pixabay

    #47: Nebraska

    Median Individual Income: $29,132

    Overall Debt Per Capita: $36,820

    Debt-to-Income Ratio: 1.26

  • #46: Mississippi
    7/ Ken Lund // Wikicommons

    #46: Mississippi

    Median Individual Income: $22,199

    Overall Debt Per Capita: $28,650

    Debt-to-Income Ratio: 1.29

  • #45: Iowa
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    #45: Iowa

    Median Individual Income: $28,771

    Overall Debt Per Capita: $37,180

    Debt-to-Income Ratio: 1.29

  • #44: Wisconsin
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    #44: Wisconsin

    Median Individual Income: $29,060

    Overall Debt Per Capita: $37,680

    Debt-to-Income Ratio: 1.30

  • #43: Arkansas
    10/ astroguy52 // Pixabay

    #43: Arkansas

    Median Individual Income: $22,972

    Overall Debt Per Capita: $30,020

    Debt-to-Income Ratio: 1.31

  • #42: Ohio
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    #42: Ohio

    Median Individual Income: $26,798

    Overall Debt Per Capita: $35,740

    Debt-to-Income Ratio: 1.33

  • #41: Indiana
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    #41: Indiana

    Median Individual Income: $26,452

    Overall Debt Per Capita: $35,330

    Debt-to-Income Ratio: 1.34

  • #40: Kentucky
    13/ emilyd3 // Pixabay

    #40: Kentucky

    Median Individual Income: $23,828

    Overall Debt Per Capita: $31,940

    Debt-to-Income Ratio: 1.34

  • #39: Michigan
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    #39: Michigan

    Median Individual Income: $26,150

    Overall Debt Per Capita: $35,280

    Debt-to-Income Ratio: 1.35

  • #38: Missouri
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    #38: Missouri

    Median Individual Income: $26,369

    Overall Debt Per Capita: $36,510

    Debt-to-Income Ratio: 1.38

  • #37: South Dakota
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    #37: South Dakota

    Median Individual Income: $27,699

    Overall Debt Per Capita: $38,470

    Debt-to-Income Ratio: 1.39

  • #36: Texas
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    #36: Texas

    Median Individual Income: $27,251

    Overall Debt Per Capita: $38,400

    Debt-to-Income Ratio: 1.41

  • #35: Louisiana
    18/ USA-Reiseblogger // Pixabay

    #35: Louisiana

    Median Individual Income: $24,508

    Overall Debt Per Capita: $34,560

    Debt-to-Income Ratio: 1.41

  • #34: Pennsylvania
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    #34: Pennsylvania

    Median Individual Income: $27,846

    Overall Debt Per Capita: $39,340

    Debt-to-Income Ratio: 1.41

  • #33: Alabama
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    #33: Alabama

    Median Individual Income: $23,693

    Overall Debt Per Capita: $34,210

    Debt-to-Income Ratio: 1.44

  • #32: Wyoming
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    #32: Wyoming

    Median Individual Income: $30,509

    Overall Debt Per Capita: $44,510

    Debt-to-Income Ratio: 1.46

  • #31: Illinois
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    #31: Illinois

    Median Individual Income: $30,140

    Overall Debt Per Capita: $44,220

    Debt-to-Income Ratio: 1.47

  • #30: Tennessee
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    #30: Tennessee

    Median Individual Income: $24,732

    Overall Debt Per Capita: $37,020

    Debt-to-Income Ratio: 1.50

  • #29: Vermont
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    #29: Vermont

    Median Individual Income: $28,825

    Overall Debt Per Capita: $43,520

    Debt-to-Income Ratio: 1.51

  • #28: New York
    25/ igormattio // Pixabay

    #28: New York

    Median Individual Income: $30,530

    Overall Debt Per Capita: $46,930

    Debt-to-Income Ratio: 1.54

  • #27: Maine
    26/ FrankWinkler // Pixabay

    #27: Maine

    Median Individual Income: $26,027

    Overall Debt Per Capita: $40,010

    Debt-to-Income Ratio: 1.54

  • #26: Rhode Island
    27/ pnelson1 // Pixabay

    #26: Rhode Island

    Median Individual Income: $30,129

    Overall Debt Per Capita: $46,950

    Debt-to-Income Ratio: 1.56

  • #25: South Carolina
    28/ acethom // Pixabay

    #25: South Carolina

    Median Individual Income: $24,806

    Overall Debt Per Capita: $38,870

    Debt-to-Income Ratio: 1.57

  • #24: Montana
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    #24: Montana

    Median Individual Income: $25,507

    Overall Debt Per Capita: $40,360

    Debt-to-Income Ratio: 1.58

  • #23: Florida
    30/ paulbr75 // Pixabay

    #23: Florida

    Median Individual Income: $25,364

    Overall Debt Per Capita: $40,600

    Debt-to-Income Ratio: 1.60

  • #22: Minnesota
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    #22: Minnesota

    Median Individual Income: $31,841

    Overall Debt Per Capita: $51,110

    Debt-to-Income Ratio: 1.61

  • #21: New Mexico
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    #21: New Mexico

    Median Individual Income: $23,534

    Overall Debt Per Capita: $37,990

    Debt-to-Income Ratio: 1.61

  • #20: New Hampshire
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    #20: New Hampshire

    Median Individual Income: $32,243

    Overall Debt Per Capita: $52,270

    Debt-to-Income Ratio: 1.62

  • #19: Delaware
    34/ skeeze // Pixabay

    #19: Delaware

    Median Individual Income: $31,251

    Overall Debt Per Capita: $50,870

    Debt-to-Income Ratio: 1.63

  • #18: Connecticut
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    #18: Connecticut

    Median Individual Income: $35,029

    Overall Debt Per Capita: $57,300

    Debt-to-Income Ratio: 1.64

  • #17: North Carolina
    36/ mam5032 // PIxabay

    #17: North Carolina

    Median Individual Income: $25,566

    Overall Debt Per Capita: $41,880

    Debt-to-Income Ratio: 1.64

  • #16: Georgia
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    #16: Georgia

    Median Individual Income: $26,244

    Overall Debt Per Capita: $43,430

    Debt-to-Income Ratio: 1.65

  • #15: Nevada
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    #15: Nevada

    Median Individual Income: $27,865

    Overall Debt Per Capita: $46,260

    Debt-to-Income Ratio: 1.66

  • #14: New Jersey
    39/ BruceEmmerling // Pixabay

    #14: New Jersey

    Median Individual Income: $33,301

    Overall Debt Per Capita: $55,800

    Debt-to-Income Ratio: 1.68

  • #13: Arizona
    40/ skeeze // Pixabay

    #13: Arizona

    Median Individual Income: $26,678

    Overall Debt Per Capita: $47,630

    Debt-to-Income Ratio: 1.79

  • #12: Alaska
    41/ kalasoft // Pixabay

    #12: Alaska

    Median Individual Income: $31,232

    Overall Debt Per Capita: $56,050

    Debt-to-Income Ratio: 1.79

  • #11: Idaho
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    #11: Idaho

    Median Individual Income: $23,909

    Overall Debt Per Capita: $43,190

    Debt-to-Income Ratio: 1.81

  • #10: Maryland
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    #10: Maryland

    Median Individual Income: $36,316

    Overall Debt Per Capita: $67,020

    Debt-to-Income Ratio: 1.85

  • #9: Massachusetts
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    #9: Massachusetts

    Median Individual Income: $32,352

    Overall Debt Per Capita: $59,820

    Debt-to-Income Ratio: 1.85

  • #8: Washington
    45/ skeeze // Pixabay

    #8: Washington

    Median Individual Income: $31,407

    Overall Debt Per Capita: $58,370

    Debt-to-Income Ratio: 1.86

  • #7: Oregon
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    #7: Oregon

    Median Individual Income: $26,188

    Overall Debt Per Capita: $49,550

    Debt-to-Income Ratio: 1.89

  • #6: Disctrict Of Columbia
    47/ AgnosticPreachersKid // WikiCommons

    #6: Disctrict Of Columbia

    Median Individual Income: $41,724

    Overall Debt Per Capita: $79,700

    Debt-to-Income Ratio: 1.91

  • #5: Utah
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    #5: Utah

    Median Individual Income: $27,136

    Overall Debt Per Capita: $52,150

    Debt-to-Income Ratio: 1.92

  • #4: Colorado
    49/ MaxPixel

    #4: Colorado

    Median Individual Income: $31,664

    Overall Debt Per Capita: $62,200

    Debt-to-Income Ratio: 1.96

  • #3: Virginia
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    #3: Virginia

    Median Individual Income: $31,557

    Overall Debt Per Capita: $62,520

    Debt-to-Income Ratio: 1.98

  • #2: Hawaii
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    #2: Hawaii

    Median Individual Income: $31,905

    Overall Debt Per Capita: $67,010

    Debt-to-Income Ratio: 2.10

  • #1: California
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    #1: California

    Median Individual Income: $28,068

    Overall Debt Per Capita: $65,740

    Debt-to-Income Ratio: 2.34

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