Here’s How Much Debt Americans Will Have Due To the Coronavirus, by State
Debt burdens will vary greatly from state to state.
Cameron Huddleston
Life and Money ColumnistView Gallery
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As the coronavirus continues to spread in the U.S., more and more Americans will likely struggle to stay afloat financially. Millions already have lost jobs or been furloughed as businesses have been forced to temporarily close. And many self-employed workers and independent contractors have seen business dry up as a result of the COVID-19 pandemic.
Without paychecks to cover their bills and emergency funds to fall back on, Americans might turn to credit to stay afloat. As a result, household debt – which already had been steadily rising – could soar.
To get a sense of how bad the problem could get, GOBankingRates surveyed nearly 5,000 adults across the U.S. to find out how much debt they expect to take on due to the coronavirus pandemic.
Nationwide, about half of respondents said they expect to take on debt. However, that percentage varies greatly from state to state – as does the amount of debt respondents in each state expect to accrue. Find out how much debt residents in your state expect to rack up as a result of the coronavirus.
Last updated: Nov. 19, 2020
Alabama
- $0: 58.14%
- $1-$999: 14.73%
- $1,000-$4,999: 15.50%
- $5,000-$9,999: 3.88%
- $10,000-$19,999: 2.33%
- $20,000-$49,999: 2.33%
- $50,000 or more: 3.10%
Alaska
- $0: 30.00%
- $1-$999: 30.00%
- $1,000-$4,999: 10.00%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 10.00%
- $20,000-$49,999: 0%
- $50,000 or more: 10.00%
Arizona
- $0: 47.93%
- $1-$999: 18.18%
- $1,000-$4,999: 15.70%
- $5,000-$9,999: 8.26%
- $10,000-$19,999: 4.13%
- $20,000-$49,999: 1.65%
- $50,000 or more: 4.13%
Arkansas
- $0: 60.87%
- $1-$999: 17.39%
- $1,000-$4,999: 17.39%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 0%
- $50,000 or more: 4.35%
California
- $0: 51.05%
- $1-$999: 13.92%
- $1,000-$4,999: 12.24%
- $5,000-$9,999: 8.02%
- $10,000-$19,999: 5.06%
- $20,000-$49,999: 4.22%
- $50,000 or more: 5.49%
Colorado
- $0: 44.20%
- $1-$999: 14.49%
- $1,000-$4,999: 21.01%
- $5,000-$9,999: 12.32%
- $10,000-$19,999: 3.62%
- $20,000-$49,999: 0.72%
- $50,000 or more: 3.62%
Connecticut
- $0: 50.00%
- $1-$999: 6.67%
- $1,000-$4,999: 13.33%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 10.00%
- $20,000-$49,999: 3.33%
- $50,000 or more: 6.67%
Delaware
- $0: 29.17%
- $1-$999: 16.67%
- $1,000-$4,999: 20.83%
- $5,000-$9,999: 0%
- $10,000-$19,999: 12.50%
- $20,000-$49,999: 8.33%
- $50,000 or more: 12.50%
District of Columbia
- $0: 47.83%
- $1-$999: 30.43%
- $1,000-$4,999: 8.70%
- $5,000-$9,999: 4.35%
- $10,000-$19,999: 0%
- $20,000-$49,999: 4.35%
- $50,000 or more: 4.35%
Read: How the Coronavirus Outbreak Is Devastating the Livelihood of Hourly Workers
Florida
- $0: 54.90%
- $1-$999: 10.46%
- $1,000-$4,999: 16.34%
- $5,000-$9,999: 9.15%
- $10,000-$19,999: 2.61%
- $20,000-$49,999: 3.27%
- $50,000 or more: 3.27%
Georgia
- $0: 47.76%
- $1-$999: 11.19%
- $1,000-$4,999: 15.67%
- $5,000-$9,999: 13.43%
- $10,000-$19,999: 5.22%
- $20,000-$49,999: 2.99%
- $50,000 or more: 3.73%
Hawaii
- $0: 44.00%
- $1-$999: 20.00%
- $1,000-$4,999: 12.00%
- $5,000-$9,999: 8.00%
- $10,000-$19,999: 4.00%
- $20,000-$49,999: 0%
- $50,000 or more: 12.00%
Idaho
- $0: 50.88%
- $1-$999: 21.05%
- $1,000-$4,999: 8.77%
- $5,000-$9,999: 10.53%
- $10,000-$19,999: 1.75%
- $20,000-$49,999: 1.75%
- $50,000 or more: 5.26%
Illinois
- $0: 52.68%
- $1-$999: 15.63%
- $1,000-$4,999: 16.07%
- $5,000-$9,999: 5.36%
- $10,000-$19,999: 4.46%
- $20,000-$49,999: 4.91%
- $50,000 or more: 0.89%
Indiana
- $0: 50.63%
- $1-$999: 15.00%
- $1,000-$4,999: 13.13%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 3.75%
- $20,000-$49,999: 3.13%
- $50,000 or more: 4.38%
Iowa
- $0: 54.21%
- $1-$999: 18.69%
- $1,000-$4,999: 13.08%
- $5,000-$9,999: 7.48%
- $10,000-$19,999: 1.87%
- $20,000-$49,999: 1.87%
- $50,000 or more: 2.80%
Kansas
- $0: 56.10%
- $1-$999: 17.07%
- $1,000-$4,999: 12.20%
- $5,000-$9,999: 2.44%
- $10,000-$19,999: 2.44%
- $20,000-$49,999: 4.88%
- $50,000 or more: 4.88%
Kentucky
- $0: 44.62%
- $1-$999: 24.62%
- $1,000-$4,999: 20.00%
- $5,000-$9,999: 4.62%
- $10,000-$19,999: 3.08%
- $20,000-$49,999: 3.08%
- $50,000 or more: 0%
Louisiana
- $0: 47.69%
- $1-$999: 16.92%
- $1,000-$4,999: 16.92%
- $5,000-$9,999: 4.62%
- $10,000-$19,999: 6.15%
- $20,000-$49,999: 3.08%
- $50,000 or more: 4.62%
Maine
- $0: 45.00%
- $1-$999: 15.00%
- $1,000-$4,999: 25.00%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 5.00%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
Maryland
- $0: 65.85%
- $1-$999: 10.98%
- $1,000-$4,999: 6.10%
- $5,000-$9,999: 7.32%
- $10,000-$19,999: 2.44%
- $20,000-$49,999: 1.22%
- $50,000 or more: 6.10%
Massachusetts
- $0: 56.76%
- $1-$999: 13.51%
- $1,000-$4,999: 16.22%
- $5,000-$9,999: 2.70%
- $10,000-$19,999: 4.05%
- $20,000-$49,999: 0%
- $50,000 or more: 6.76%
Michigan
- $0: 58.90%
- $1-$999: 13.01%
- $1,000-$4,999: 10.96%
- $5,000-$9,999: 8.90%
- $10,000-$19,999: 0.68%
- $20,000-$49,999: 1.37%
- $50,000 or more: 6.16%
Minnesota
- $0: 54.29%
- $1-$999: 8.57%
- $1,000-$4,999: 15.71%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 5.00%
- $20,000-$49,999: 2.14%
- $50,000 or more: 4.29%
Find Out: How To Protect Your Retirement Savings During the Coronavirus Scare
Mississippi
- $0: 57.97%
- $1-$999: 13.04%
- $1,000-$4,999: 14.49%
- $5,000-$9,999: 2.90%
- $10,000-$19,999: 4.35%
- $20,000-$49,999: 1.45%
- $50,000 or more: 5.80%
Missouri
- $0: 55.80%
- $1-$999: 18.23%
- $1,000-$4,999: 11.05%
- $5,000-$9,999: 6.63%
- $10,000-$19,999: 4.42%
- $20,000-$49,999: 2.21%
- $50,000 or more: 1.66%
Montana
- $0: 47.14%
- $1-$999: 10.00%
- $1,000-$4,999: 12.86%
- $5,000-$9,999: 12.86%
- $10,000-$19,999: 4.29%
- $20,000-$49,999: 4.29%
- $50,000 or more: 8.57%
Nebraska
- $0: 49.25%
- $1-$999: 16.42%
- $1,000-$4,999: 17.91%
- $5,000-$9,999: 4.48%
- $10,000-$19,999: 11.94%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
Nevada
- $0: 46.67%
- $1-$999: 14.67%
- $1,000-$4,999: 14.67%
- $5,000-$9,999: 9.33%
- $10,000-$19,999: 4.00%
- $20,000-$49,999: 2.67%
- $50,000 or more: 8.00%
New Hampshire
- $0: 68.75%
- $1-$999: 18.75%
- $1,000-$4,999: 6.25%
- $5,000-$9,999: 6.25%
- $10,000-$19,999: 0%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
New Jersey
- $0: 50.00%
- $1-$999: 18.57%
- $1,000-$4,999: 8.57%
- $5,000-$9,999: 7.14%
- $10,000-$19,999: 5.71%
- $20,000-$49,999: 4.29%
- $50,000 or more: 5.71%
New Mexico
- $0: 45.31%
- $1-$999: 18.75%
- $1,000-$4,999: 20.31%
- $5,000-$9,999: 4.69%
- $10,000-$19,999: 3.13%
- $20,000-$49,999: 0%
- $50,000 or more: 7.81%
New York
- $0: 47.98%
- $1-$999: 15.15%
- $1,000-$4,999: 14.65%
- $5,000-$9,999: 9.09%
- $10,000-$19,999: 6.57%
- $20,000-$49,999: 3.54%
- $50,000 or more: 3.03%
North Carolina
- $0: 50.97%
- $1-$999: 13.59%
- $1,000-$4,999: 20.39%
- $5,000-$9,999: 4.37%
- $10,000-$19,999: 5.34%
- $20,000-$49,999: 1.94%
- $50,000 or more: 3.40%
Also See: Companies That Are ‘Too Big To Fail’ Due to Coronavirus
North Dakota
- $0: 58.06%
- $1-$999: 3.23%
- $1,000-$4,999: 9.68%
- $5,000-$9,999: 9.68%
- $10,000-$19,999: 12.90%
- $20,000-$49,999: 0%
- $50,000 or more: 6.45%
Ohio
- $0: 50.83%
- $1-$999: 16.57%
- $1,000-$4,999: 14.36%
- $5,000-$9,999: 8.84%
- $10,000-$19,999: 4.97%
- $20,000-$49,999: 1.66%
- $50,000 or more: 2.76%
Oklahoma
- $0: 55.17%
- $1-$999: 19.54%
- $1,000-$4,999: 13.79%
- $5,000-$9,999: 1.15%
- $10,000-$19,999: 3.45%
- $20,000-$49,999: 2.30%
- $50,000 or more: 4.60%
Oregon
- $0: 50.50%
- $1-$999: 10.89%
- $1,000-$4,999: 13.86%
- $5,000-$9,999: 9.90%
- $10,000-$19,999: 6.93%
- $20,000-$49,999: 3.96%
- $50,000 or more: 3.96%
Pennsylvania
- $0: 52.36%
- $1-$999: 14.14%
- $1,000-$4,999: 13.61%
- $5,000-$9,999: 10.47%
- $10,000-$19,999: 4.19%
- $20,000-$49,999: 2.62%
- $50,000 or more: 2.62%
Rhode Island
- $0: 50.00%
- $1-$999: 14.29%
- $1,000-$4,999: 0%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 14.29%
- $50,000 or more: 21.43%
South Carolina
- $0: 47.67%
- $1-$999: 20.93%
- $1,000-$4,999: 10.47%
- $5,000-$9,999: 5.81%
- $10,000-$19,999: 4.65%
- $20,000-$49,999: 3.49%
- $50,000 or more: 6.98%
South Dakota
- $0: 35.48%
- $1-$999: 25.81%
- $1,000-$4,999: 12.90%
- $5,000-$9,999: 9.68%
- $10,000-$19,999: 6.45%
- $20,000-$49,999: 0%
- $50,000 or more: 9.68%
Tennessee
- $0: 47.17%
- $1-$999: 16.98%
- $1,000-$4,999: 12.26%
- $5,000-$9,999: 6.60%
- $10,000-$19,999: 3.77%
- $20,000-$49,999: 5.66%
- $50,000 or more: 7.55%
Texas
- $0: 51.06%
- $1-$999: 15.74%
- $1,000-$4,999: 14.89%
- $5,000-$9,999: 10.21%
- $10,000-$19,999: 4.26%
- $20,000-$49,999: 0.85%
- $50,000 or more: 2.98%
Did You Know? 65% of Americans Would Turn Down an All-Expenses-Paid Cruise Right Now
Utah
- $0: 51.04%
- $1-$999: 11.46%
- $1,000-$4,999: 12.50%
- $5,000-$9,999: 8.33%
- $10,000-$19,999: 7.29%
- $20,000-$49,999: 4.17%
- $50,000 or more: 5.21%
Vermont
- $0: 41.67%
- $1-$999: 16.67%
- $1,000-$4,999: 33.33%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 8.33%
- $50,000 or more: 0%
Virginia
- $0: 50.00%
- $1-$999: 18.35%
- $1,000-$4,999: 15.14%
- $5,000-$9,999: 5.05%
- $10,000-$19,999: 4.59%
- $20,000-$49,999: 4.59%
- $50,000 or more: 2.29%
Washington
- $0: 57.76%
- $1-$999: 18.10%
- $1,000-$4,999: 11.21%
- $5,000-$9,999: 4.31%
- $10,000-$19,999: 4.31%
- $20,000-$49,999: 2.59%
- $50,000 or more: 1.72%
West Virginia
- $0: 53.33%
- $1-$999: 20.00%
- $1,000-$4,999: 16.67%
- $5,000-$9,999: 6.67%
- $10,000-$19,999: 0%
- $20,000-$49,999: 3.33%
- $50,000 or more: 0%
Wisconsin
- $0: 50.62%
- $1-$999: 17.28%
- $1,000-$4,999: 12.35%
- $5,000-$9,999: 7.41%
- $10,000-$19,999: 4.32%
- $20,000-$49,999: 1.85%
- $50,000 or more: 6.17%
Wyoming
- $0: 43.48%
- $1-$999: 17.39%
- $1,000-$4,999: 17.39%
- $5,000-$9,999: 8.70%
- $10,000-$19,999: 4.35%
- $20,000-$49,999: 0%
- $50,000 or more: 8.70%
Here's How Much Debt Americans Will Have Due To the Coronavirus, by Age
Perhaps unsurprisingly, seeing as how they’ve had more time to pad their emergency funds, fewer older respondents anticipate taking on debt due to the coronavirus. Just over 57% of those 65 and older claimed they do not expect to fall into debt, and a slight majority — 51% — of respondents ages 55 to 64 said the same thing.
Results were a little more varied among middle-age respondents. Only 45% of respondents ages 45 to 54 are confident they won’t accumulate debt due to the coronavirus, a survey low. Millennial respondents — that is, those in the 25 to 34 and 35 to 44 age brackets — also expect to take on more debt than senior respondents. Sixteen percent of Millennial respondents think they’ll take on between $1,000 to $4,999 in debt, while over 20% of those same respondents anticipate taking on $5,000 or more.
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Methodology: GOBankingRates surveyed 4,964 Americans ages 18 and older from across the country between March 24 and March 27, 2020, asking one question: How much debt do you anticipate taking on due to the coronavirus pandemic? Age data was not available for 990 respondents (19.94% of respondents). GOBankingRates used Google Surveys to conduct the poll.
About the Author
Cameron Huddleston
Cameron Huddleston is an award-winning journalist with more than 18 years of experience writing about personal finance. Her work has appeared in Kiplinger’s Personal Finance, Business Insider, Chicago Tribune, Fortune, MSN, USA Today and many more print and online publications. She also is the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.
U.S. News & World Report named her one of the top personal finance experts to follow on Twitter, and AOL Daily Finance named her one of the top 20 personal finance influencers to follow on Twitter. She has appeared on CNBC, CNN, MSNBC and “Fox & Friends” and has been a guest on ABC News Radio, Wall Street Journal Radio, NPR, WTOP in Washington, D.C., KGO in San Francisco and other personal finance radio shows nationwide. She also has been interviewed and quoted as an expert in The New York Times, Chicago Tribune, Forbes, MarketWatch and more.
She has an MA in economic journalism from American University and BA in journalism and Russian studies from Washington & Lee University.
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As the coronavirus continues to spread in the U.S., more and more Americans will likely struggle to stay afloat financially. Millions already have lost jobs or been furloughed as businesses have been forced to temporarily close. And many self-employed workers and independent contractors have seen business dry up as a result of the COVID-19 pandemic.
Without paychecks to cover their bills and emergency funds to fall back on, Americans might turn to credit to stay afloat. As a result, household debt – which already had been steadily rising – could soar.
To get a sense of how bad the problem could get, GOBankingRates surveyed nearly 5,000 adults across the U.S. to find out how much debt they expect to take on due to the coronavirus pandemic.
Nationwide, about half of respondents said they expect to take on debt. However, that percentage varies greatly from state to state – as does the amount of debt respondents in each state expect to accrue. Find out how much debt residents in your state expect to rack up as a result of the coronavirus.
Last updated: Nov. 19, 2020
Alabama
- $0: 58.14%
- $1-$999: 14.73%
- $1,000-$4,999: 15.50%
- $5,000-$9,999: 3.88%
- $10,000-$19,999: 2.33%
- $20,000-$49,999: 2.33%
- $50,000 or more: 3.10%
Alaska
- $0: 30.00%
- $1-$999: 30.00%
- $1,000-$4,999: 10.00%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 10.00%
- $20,000-$49,999: 0%
- $50,000 or more: 10.00%
Arizona
- $0: 47.93%
- $1-$999: 18.18%
- $1,000-$4,999: 15.70%
- $5,000-$9,999: 8.26%
- $10,000-$19,999: 4.13%
- $20,000-$49,999: 1.65%
- $50,000 or more: 4.13%
Arkansas
- $0: 60.87%
- $1-$999: 17.39%
- $1,000-$4,999: 17.39%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 0%
- $50,000 or more: 4.35%
California
- $0: 51.05%
- $1-$999: 13.92%
- $1,000-$4,999: 12.24%
- $5,000-$9,999: 8.02%
- $10,000-$19,999: 5.06%
- $20,000-$49,999: 4.22%
- $50,000 or more: 5.49%
Colorado
- $0: 44.20%
- $1-$999: 14.49%
- $1,000-$4,999: 21.01%
- $5,000-$9,999: 12.32%
- $10,000-$19,999: 3.62%
- $20,000-$49,999: 0.72%
- $50,000 or more: 3.62%
Connecticut
- $0: 50.00%
- $1-$999: 6.67%
- $1,000-$4,999: 13.33%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 10.00%
- $20,000-$49,999: 3.33%
- $50,000 or more: 6.67%
Delaware
- $0: 29.17%
- $1-$999: 16.67%
- $1,000-$4,999: 20.83%
- $5,000-$9,999: 0%
- $10,000-$19,999: 12.50%
- $20,000-$49,999: 8.33%
- $50,000 or more: 12.50%
District of Columbia
- $0: 47.83%
- $1-$999: 30.43%
- $1,000-$4,999: 8.70%
- $5,000-$9,999: 4.35%
- $10,000-$19,999: 0%
- $20,000-$49,999: 4.35%
- $50,000 or more: 4.35%
Read: How the Coronavirus Outbreak Is Devastating the Livelihood of Hourly Workers
Florida
- $0: 54.90%
- $1-$999: 10.46%
- $1,000-$4,999: 16.34%
- $5,000-$9,999: 9.15%
- $10,000-$19,999: 2.61%
- $20,000-$49,999: 3.27%
- $50,000 or more: 3.27%
Georgia
- $0: 47.76%
- $1-$999: 11.19%
- $1,000-$4,999: 15.67%
- $5,000-$9,999: 13.43%
- $10,000-$19,999: 5.22%
- $20,000-$49,999: 2.99%
- $50,000 or more: 3.73%
Hawaii
- $0: 44.00%
- $1-$999: 20.00%
- $1,000-$4,999: 12.00%
- $5,000-$9,999: 8.00%
- $10,000-$19,999: 4.00%
- $20,000-$49,999: 0%
- $50,000 or more: 12.00%
Idaho
- $0: 50.88%
- $1-$999: 21.05%
- $1,000-$4,999: 8.77%
- $5,000-$9,999: 10.53%
- $10,000-$19,999: 1.75%
- $20,000-$49,999: 1.75%
- $50,000 or more: 5.26%
Illinois
- $0: 52.68%
- $1-$999: 15.63%
- $1,000-$4,999: 16.07%
- $5,000-$9,999: 5.36%
- $10,000-$19,999: 4.46%
- $20,000-$49,999: 4.91%
- $50,000 or more: 0.89%
Indiana
- $0: 50.63%
- $1-$999: 15.00%
- $1,000-$4,999: 13.13%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 3.75%
- $20,000-$49,999: 3.13%
- $50,000 or more: 4.38%
Iowa
- $0: 54.21%
- $1-$999: 18.69%
- $1,000-$4,999: 13.08%
- $5,000-$9,999: 7.48%
- $10,000-$19,999: 1.87%
- $20,000-$49,999: 1.87%
- $50,000 or more: 2.80%
Kansas
- $0: 56.10%
- $1-$999: 17.07%
- $1,000-$4,999: 12.20%
- $5,000-$9,999: 2.44%
- $10,000-$19,999: 2.44%
- $20,000-$49,999: 4.88%
- $50,000 or more: 4.88%
Kentucky
- $0: 44.62%
- $1-$999: 24.62%
- $1,000-$4,999: 20.00%
- $5,000-$9,999: 4.62%
- $10,000-$19,999: 3.08%
- $20,000-$49,999: 3.08%
- $50,000 or more: 0%
Louisiana
- $0: 47.69%
- $1-$999: 16.92%
- $1,000-$4,999: 16.92%
- $5,000-$9,999: 4.62%
- $10,000-$19,999: 6.15%
- $20,000-$49,999: 3.08%
- $50,000 or more: 4.62%
Maine
- $0: 45.00%
- $1-$999: 15.00%
- $1,000-$4,999: 25.00%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 5.00%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
Maryland
- $0: 65.85%
- $1-$999: 10.98%
- $1,000-$4,999: 6.10%
- $5,000-$9,999: 7.32%
- $10,000-$19,999: 2.44%
- $20,000-$49,999: 1.22%
- $50,000 or more: 6.10%
Massachusetts
- $0: 56.76%
- $1-$999: 13.51%
- $1,000-$4,999: 16.22%
- $5,000-$9,999: 2.70%
- $10,000-$19,999: 4.05%
- $20,000-$49,999: 0%
- $50,000 or more: 6.76%
Michigan
- $0: 58.90%
- $1-$999: 13.01%
- $1,000-$4,999: 10.96%
- $5,000-$9,999: 8.90%
- $10,000-$19,999: 0.68%
- $20,000-$49,999: 1.37%
- $50,000 or more: 6.16%
Minnesota
- $0: 54.29%
- $1-$999: 8.57%
- $1,000-$4,999: 15.71%
- $5,000-$9,999: 10.00%
- $10,000-$19,999: 5.00%
- $20,000-$49,999: 2.14%
- $50,000 or more: 4.29%
Find Out: How To Protect Your Retirement Savings During the Coronavirus Scare
Mississippi
- $0: 57.97%
- $1-$999: 13.04%
- $1,000-$4,999: 14.49%
- $5,000-$9,999: 2.90%
- $10,000-$19,999: 4.35%
- $20,000-$49,999: 1.45%
- $50,000 or more: 5.80%
Missouri
- $0: 55.80%
- $1-$999: 18.23%
- $1,000-$4,999: 11.05%
- $5,000-$9,999: 6.63%
- $10,000-$19,999: 4.42%
- $20,000-$49,999: 2.21%
- $50,000 or more: 1.66%
Montana
- $0: 47.14%
- $1-$999: 10.00%
- $1,000-$4,999: 12.86%
- $5,000-$9,999: 12.86%
- $10,000-$19,999: 4.29%
- $20,000-$49,999: 4.29%
- $50,000 or more: 8.57%
Nebraska
- $0: 49.25%
- $1-$999: 16.42%
- $1,000-$4,999: 17.91%
- $5,000-$9,999: 4.48%
- $10,000-$19,999: 11.94%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
Nevada
- $0: 46.67%
- $1-$999: 14.67%
- $1,000-$4,999: 14.67%
- $5,000-$9,999: 9.33%
- $10,000-$19,999: 4.00%
- $20,000-$49,999: 2.67%
- $50,000 or more: 8.00%
New Hampshire
- $0: 68.75%
- $1-$999: 18.75%
- $1,000-$4,999: 6.25%
- $5,000-$9,999: 6.25%
- $10,000-$19,999: 0%
- $20,000-$49,999: 0%
- $50,000 or more: 0%
New Jersey
- $0: 50.00%
- $1-$999: 18.57%
- $1,000-$4,999: 8.57%
- $5,000-$9,999: 7.14%
- $10,000-$19,999: 5.71%
- $20,000-$49,999: 4.29%
- $50,000 or more: 5.71%
New Mexico
- $0: 45.31%
- $1-$999: 18.75%
- $1,000-$4,999: 20.31%
- $5,000-$9,999: 4.69%
- $10,000-$19,999: 3.13%
- $20,000-$49,999: 0%
- $50,000 or more: 7.81%
New York
- $0: 47.98%
- $1-$999: 15.15%
- $1,000-$4,999: 14.65%
- $5,000-$9,999: 9.09%
- $10,000-$19,999: 6.57%
- $20,000-$49,999: 3.54%
- $50,000 or more: 3.03%
North Carolina
- $0: 50.97%
- $1-$999: 13.59%
- $1,000-$4,999: 20.39%
- $5,000-$9,999: 4.37%
- $10,000-$19,999: 5.34%
- $20,000-$49,999: 1.94%
- $50,000 or more: 3.40%
Also See: Companies That Are ‘Too Big To Fail’ Due to Coronavirus
North Dakota
- $0: 58.06%
- $1-$999: 3.23%
- $1,000-$4,999: 9.68%
- $5,000-$9,999: 9.68%
- $10,000-$19,999: 12.90%
- $20,000-$49,999: 0%
- $50,000 or more: 6.45%
Ohio
- $0: 50.83%
- $1-$999: 16.57%
- $1,000-$4,999: 14.36%
- $5,000-$9,999: 8.84%
- $10,000-$19,999: 4.97%
- $20,000-$49,999: 1.66%
- $50,000 or more: 2.76%
Oklahoma
- $0: 55.17%
- $1-$999: 19.54%
- $1,000-$4,999: 13.79%
- $5,000-$9,999: 1.15%
- $10,000-$19,999: 3.45%
- $20,000-$49,999: 2.30%
- $50,000 or more: 4.60%
Oregon
- $0: 50.50%
- $1-$999: 10.89%
- $1,000-$4,999: 13.86%
- $5,000-$9,999: 9.90%
- $10,000-$19,999: 6.93%
- $20,000-$49,999: 3.96%
- $50,000 or more: 3.96%
Pennsylvania
- $0: 52.36%
- $1-$999: 14.14%
- $1,000-$4,999: 13.61%
- $5,000-$9,999: 10.47%
- $10,000-$19,999: 4.19%
- $20,000-$49,999: 2.62%
- $50,000 or more: 2.62%
Rhode Island
- $0: 50.00%
- $1-$999: 14.29%
- $1,000-$4,999: 0%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 14.29%
- $50,000 or more: 21.43%
South Carolina
- $0: 47.67%
- $1-$999: 20.93%
- $1,000-$4,999: 10.47%
- $5,000-$9,999: 5.81%
- $10,000-$19,999: 4.65%
- $20,000-$49,999: 3.49%
- $50,000 or more: 6.98%
South Dakota
- $0: 35.48%
- $1-$999: 25.81%
- $1,000-$4,999: 12.90%
- $5,000-$9,999: 9.68%
- $10,000-$19,999: 6.45%
- $20,000-$49,999: 0%
- $50,000 or more: 9.68%
Tennessee
- $0: 47.17%
- $1-$999: 16.98%
- $1,000-$4,999: 12.26%
- $5,000-$9,999: 6.60%
- $10,000-$19,999: 3.77%
- $20,000-$49,999: 5.66%
- $50,000 or more: 7.55%
Texas
- $0: 51.06%
- $1-$999: 15.74%
- $1,000-$4,999: 14.89%
- $5,000-$9,999: 10.21%
- $10,000-$19,999: 4.26%
- $20,000-$49,999: 0.85%
- $50,000 or more: 2.98%
Did You Know? 65% of Americans Would Turn Down an All-Expenses-Paid Cruise Right Now
Utah
- $0: 51.04%
- $1-$999: 11.46%
- $1,000-$4,999: 12.50%
- $5,000-$9,999: 8.33%
- $10,000-$19,999: 7.29%
- $20,000-$49,999: 4.17%
- $50,000 or more: 5.21%
Vermont
- $0: 41.67%
- $1-$999: 16.67%
- $1,000-$4,999: 33.33%
- $5,000-$9,999: 0%
- $10,000-$19,999: 0%
- $20,000-$49,999: 8.33%
- $50,000 or more: 0%
Virginia
- $0: 50.00%
- $1-$999: 18.35%
- $1,000-$4,999: 15.14%
- $5,000-$9,999: 5.05%
- $10,000-$19,999: 4.59%
- $20,000-$49,999: 4.59%
- $50,000 or more: 2.29%
Washington
- $0: 57.76%
- $1-$999: 18.10%
- $1,000-$4,999: 11.21%
- $5,000-$9,999: 4.31%
- $10,000-$19,999: 4.31%
- $20,000-$49,999: 2.59%
- $50,000 or more: 1.72%
West Virginia
- $0: 53.33%
- $1-$999: 20.00%
- $1,000-$4,999: 16.67%
- $5,000-$9,999: 6.67%
- $10,000-$19,999: 0%
- $20,000-$49,999: 3.33%
- $50,000 or more: 0%
Wisconsin
- $0: 50.62%
- $1-$999: 17.28%
- $1,000-$4,999: 12.35%
- $5,000-$9,999: 7.41%
- $10,000-$19,999: 4.32%
- $20,000-$49,999: 1.85%
- $50,000 or more: 6.17%
Wyoming
- $0: 43.48%
- $1-$999: 17.39%
- $1,000-$4,999: 17.39%
- $5,000-$9,999: 8.70%
- $10,000-$19,999: 4.35%
- $20,000-$49,999: 0%
- $50,000 or more: 8.70%
Here's How Much Debt Americans Will Have Due To the Coronavirus, by Age
Perhaps unsurprisingly, seeing as how they’ve had more time to pad their emergency funds, fewer older respondents anticipate taking on debt due to the coronavirus. Just over 57% of those 65 and older claimed they do not expect to fall into debt, and a slight majority — 51% — of respondents ages 55 to 64 said the same thing.
Results were a little more varied among middle-age respondents. Only 45% of respondents ages 45 to 54 are confident they won’t accumulate debt due to the coronavirus, a survey low. Millennial respondents — that is, those in the 25 to 34 and 35 to 44 age brackets — also expect to take on more debt than senior respondents. Sixteen percent of Millennial respondents think they’ll take on between $1,000 to $4,999 in debt, while over 20% of those same respondents anticipate taking on $5,000 or more.
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Methodology: GOBankingRates surveyed 4,964 Americans ages 18 and older from across the country between March 24 and March 27, 2020, asking one question: How much debt do you anticipate taking on due to the coronavirus pandemic? Age data was not available for 990 respondents (19.94% of respondents). GOBankingRates used Google Surveys to conduct the poll.
About the Author
Cameron Huddleston
Cameron Huddleston is an award-winning journalist with more than 18 years of experience writing about personal finance. Her work has appeared in Kiplinger’s Personal Finance, Business Insider, Chicago Tribune, Fortune, MSN, USA Today and many more print and online publications. She also is the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.
U.S. News & World Report named her one of the top personal finance experts to follow on Twitter, and AOL Daily Finance named her one of the top 20 personal finance influencers to follow on Twitter. She has appeared on CNBC, CNN, MSNBC and “Fox & Friends” and has been a guest on ABC News Radio, Wall Street Journal Radio, NPR, WTOP in Washington, D.C., KGO in San Francisco and other personal finance radio shows nationwide. She also has been interviewed and quoted as an expert in The New York Times, Chicago Tribune, Forbes, MarketWatch and more.
She has an MA in economic journalism from American University and BA in journalism and Russian studies from Washington & Lee University.