Here’s How Much Debt the Average Baby Boomer Has in Every State
One of the factors that could affect the amount of debt you have is the generation you grew up in. If you’re a baby boomer, chances are that you have more debt than Americans in other generations.
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A recent Scholaroo study found that baby boomers are the generation with the second-highest average amount of credit card debt — with Gen X in the lead — with an average debt of $7,464. Perhaps surprisingly, boomers also have the most student loan debt — $43,554 on average. In addition, the average boomer has $188,034 in mortgage debt and $22,530 in auto loans.
The study did find that where you live can also affect how much debt you have. With that in mind, here’s a look at the average total debt held by baby boomers in every state, ranked from most to least debt.
1. Hawaii
Average debt: $93,354
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2. California
Average debt: $88,577
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3. Colorado
Average debt: $73,110
4. Washington
Average debt: $72,774
5. Maryland
Average debt: $69,018
6. Utah
Average debt: $68,651
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7. Nevada
Average debt: $64,801
8. Alaska
Average debt: $64,066
9. Oregon
Average debt: $63,494
10. Virginia
Average debt: $63,290
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11. Massachusetts
Average debt: $62,294
12. Arizona
Average debt: $61,467
13. Idaho
Average debt: $56,828
14. New Jersey
Average debt: $56,581
15. Delaware
Average debt: $54,742
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16. Connecticut
Average debt: $54,005
17. Rhode Island
Average debt: $53,717
18. Wyoming
Average debt: $51,568
19. New York
Average debt: $50,715
20. Minnesota
Average debt: $50,657
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21. Georgia
Average debt: $49,733
22. Montana
Average debt: $49,353
23. Florida
Average debt: $49,350
24. New Hampshire
Average debt: $49,009
25. New Mexico
Average debt: $47,888
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26. Illinois
Average debt: $46,248
27. North Carolina
Average debt: $45,542
28. Tennessee
Average debt: $45,332
29. South Carolina
Average debt: $45,287
30. Texas
Average debt: $44,508
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31. Vermont
Average debt: $41,672
32. Wisconsin
Average debt: $41,334
33. Maine
Average debt: $41,214
34. Alabama
Average debt: $40,537
35. Missouri
Average debt: $40,434
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36. South Dakota
Average debt: $40,394
37. North Dakota
Average debt: $39,877
38. Pennsylvania
Average debt: $39,789
39. Kansas
Average debt: $39,290
40. Nebraska
Average debt: $39,236
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41. Louisiana
Average debt: $39,112
42. Indiana
Average debt: $38,326
43. Kentucky
Average debt: $37,886
44. Oklahoma
Average debt: $37,721
45. Michigan
Average debt: $37,712
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46. Iowa
Average debt: $36,765
47. Arkansas
Average debt: $36,316
48. Ohio
Average debt: $36,247
49. Mississippi
Average debt: $33,679
50. West Virginia
Average debt: $32,668
Data is sourced from Scholaroo and is accurate as of Feb. 19, 2024.
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This article originally appeared on GOBankingRates.com: Here’s How Much Debt the Average Baby Boomer Has in Every State
