Erik Bascome
Staten Island Advance, N.Y. (TNS)
The average American household is more than $150,000 in debt, with mortgages accounting for more than two-thirds of what’s owed.
WalletHub, an online financial advisory site, recently released its latest Household Debt Report, finding that the nation’s total household debt reached $18.39 trillion in the second quarter of 2025.
Researchers used data from the New York Federal Reserve to determine existing debt levels and data from the U.S. Bureau of Labor Statistics to adjust past debt levels for inflation to accurately show how the existing debt compares to historical levels.
Recommended Articles
Class of 2026: Here’s How to Help Set the Stage for a Healthier Financial Future
It’s important for new accounting grads to realize that the steps they take—or neglect to take—today can shape their financial future.
Study: 1 in 7 Americans Could Be Paying a Mortgage for 65 Years
A new study from JG Wentworth reveals how long Americans stay in debt, and how interest and repayment habits can stretch timelines far beyond expectations.
61% With Credit Card Debt Have Had It For At Least a Year
31% of credit cardholders have been in debt for at least three years and 21% who have been in debt for at least five years.
For example, while the current $18.39 trillion in total household debt represents the record-high in absolute terms, it’s actually more than $1 trillion below the inflation-adjusted record of $19.44 trillion in the fourth quarter of 2008.
The current $18.39 trillion in total household debt equates to an average household debt of $152,653, which is relatively in line with the average household debt since the start of 2020, albeit with slight fluctuations from quarter to quarter.
The inflation-adjusted record for average household debt was $166,462, also recorded during the fourth quarter of 2008.
Total mortgage debt across the country reached $12.94 trillion in the second quarter of 2025, representing roughly 70.4% of the $18.39 trillion in total household debt.
The $12.94 trillion in mortgage debt equates to an average mortgage debt of $107,384, which is more than $14,000 below the inflation-adjusted record of $121,622 in the fourth quarter of 2008.
Auto loan debt decreased slightly to $1.65 trillion, for an average of $13,739 per household. Total student loan debt sat at $1.64 trillion, with the average household owing $13,598 for student loans.
Credit card debt reached $1.21 trillion, with the average household holding a credit card balance of $10,037.
© 2025 Staten Island Advance, N.Y.. Visit www.silive.com. Distributed by Tribune Content Agency, LLC.
Sign in to get access to this free resource, and all of our whitepapers and reports.
Download this content today!
Register Now Already registered? Click here to Log In
