![]() California households were next with debt of $84,730 and Hawaiian households ranked third at $82,650. It is essentially an exercise in stepping on the debt scale.įorbes Advisor, a personal finance website, took the debt totals for each state for 2023 and divided those by population estimates from last year to come up with a per capita household debt number.Ĭolorado ranked first among states with household debt at $89,170. The Federal Reserve Bank of New York’s Household Debt and Credit Report measures mortgages, car loans, student loans, credit cards and other personal debts. Nowhere do consumers carry a higher share of debt relative to their incomes than in Colorado, which could prove problematic if years of heavy borrowing across every sector of the economy triggers the next big downturn as Fed watcher Jim Grant is predicting. ![]() Digital Replica Edition Home Page Close MenuĬolorado has one of the most physically fit populations of any state in the U.S., but the same can’t be said regarding fiscal fitness.Ĭolorado households are weighed down with the heaviest debt burdens of any state, even when looking at more expensive places to live like California and Hawaii, according to a study from Forbes Advisor.
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