These 10 States Have the Most Consumer Debt

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Consumer debt continues to rise in the United States following a brief interlude during the COVID-19 pandemic, when Americans cut way back on credit card spending. The total U.S. consumer debt balance rose to $17.1 trillion in 2023 from $16.38 trillion in 2022, according to a study released earlier this year from Experian.

Although the growth rate slowed in 2023, it still reflects a trend in which consumers across the United States have continued to take on more debt.

“Consumers appear to be in a solid position to continue spending and supporting growth in 2024, even as the climb in credit card debt has some ringing the alarm,” Joseph Mayans, Experian’s director of U.S. economics, said in a news release. “When adjusted to account for the rapid income growth over the last couple of years, overall debt loads still sit below their pre-pandemic levels and remain historically low.”

Higher consumer debt extends to all parts of the country and all generations as well, although older Americans have reduced their debt lately.

According to Experian, here are the average consumer debt balances for each generation in 2023 and how much that total changed:

In terms of location, the amount of consumer debt varies widely by state — and not just due to how many residents live there. Some high-population states (New York) have comparatively low consumer debt, while some low-population states (Idaho) have high debt.

Here’s a look at the 10 states with the most consumer debt, per the Experian study (the District of Columbia, with a balance of $166,186, was not included):

Idaho

• Average debt 2023: $120,766
• Change from 2022: +3.2%

Oregon

• Average debt 2023: $123,090
• Change from 2022: +1.7

Massachusetts

• Average debt 2023: $ 127,277
• Change from 2022: +0.1%

Virginia

• Average debt 2023: $128,386
• Change from 2022: +1.2%

Maryland

• Average debt 2023: $131,948
• Change from 2022: +0.4%

Utah

• Average debt 2023: $138,485
• Change from 2022: +2.6%

Hawaii

• Average debt 2023: $147,103
• Change from 2022: +1%

California

• Average debt 2023: $148,428
• Change from 2022: +1%

Washington

• Average debt 2023: $150,462
• Change from 2022: +2.3%

Colorado

• Average debt 2023: $154,481
• Change from 2022: +2.6%

On the other end of the spectrum, these five states ranked lowest in average consumer debt last year: West Virginia ($64,320), Mississippi ($65,547), Arkansas ($74,770), Oklahoma ($75,022) and Ohio ($75,243).

Experian found that much of Americans’ debt is secured by assets. For example, U.S. homeowners have about $11 trillion in debt that is primarily owed on their residences and, therefore, secured by real estate. According to Federal Reserve data, real estate has collectively appreciated in value by a similar amount over the past couple of years.

Another $1.5 trillion in consumer debt is owed on vehicle loans that are secured by an asset that typically depreciates rather than appreciates in value.

Here are the debt balances across different categories as of 2023:

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