Debt is a near-universal experience in the United States, with about 77% of Americans carrying some form of debt, according to the Federal Reserve Board. As of mid-2025, the average American household debt stood at $104,755, with total U.S. household debt reaching a record high of $18.8 trillion in Q4 2025, as reported by the New York Federal Reserve.

Breakdown of Debt Categories

The two largest components of household debt are mortgage balances and credit card debt. Total mortgage balances stand at $13.17 trillion, roughly 70% of all household debt in the country, with the average mortgage balance per borrower at $268,060, according to TransUnion. Credit card debt, on the other hand, totals $1.28 trillion, with the average American credit card debt per borrower at $6,523 in Q3 2025.

Auto loans now rank as the third-largest household debt category in the U.S., with total auto loan balances reaching $1.67 trillion in Q4 2025. The average American auto loan balance is $24,602, with monthly payments reflecting how much car costs have risen in recent years. The average new car payment was $748 per month in Q4 2025, while the average used car payment was $532 per month, according to Experian.

Student Loan Debt and Generational Debt

Student loan debt affects more than 43 million Americans, with the average borrower carrying between $37,400 and $43,300 in student loan debt, as of early 2026. Debt doesn’t look the same at every stage of life, with adults between 40 and 49 carrying the most total debt, about 4 times more than adults between 18 and 29, according to the New York Fed’s Consumer Credit Panel.

Original reporting: El Paso News (HLL/CB) — read the source article.