The average American carries significant debt across multiple categories — mortgage, auto, student loans, and credit cards. Where you stand relative to your age group reveals whether your debt load is typical or a cause for concern.
Average Total Debt by Age Group
| Age Group | Average Total Debt | Median Total Debt |
|---|---|---|
| Under 35 | $67,400 | $28,900 |
| 35-44 | $134,400 | $60,800 |
| 45-54 | $134,700 | $60,300 |
| 55-64 | $108,300 | $47,900 |
| 65-74 | $66,000 | $24,200 |
| 75+ | $34,500 | $9,400 |
Source: Federal Reserve Survey of Consumer Finances. Averages are skewed upward by high-debt households; medians are more representative.
Debt by Type and Age Group
Mortgage Debt (Largest Component)
| Age Group | % With Mortgage | Avg Mortgage Balance |
|---|---|---|
| Under 35 | 37% | $192,000 |
| 35-44 | 57% | $241,000 |
| 45-54 | 55% | $211,000 |
| 55-64 | 46% | $175,000 |
| 65-74 | 34% | $142,000 |
| 75+ | 18% | $112,000 |
Student Loan Debt
| Age Group | % With Student Loans | Avg Balance |
|---|---|---|
| Under 35 | 38% | $33,500 |
| 35-44 | 26% | $42,000 |
| 45-54 | 17% | $40,500 |
| 55-64 | 9% | $37,800 |
| 65+ | 3% | $29,000 |
Auto Loan Debt
| Age Group | % With Auto Loan | Avg Balance |
|---|---|---|
| Under 35 | 42% | $22,800 |
| 35-44 | 46% | $24,600 |
| 45-54 | 44% | $23,200 |
| 55-64 | 38% | $20,400 |
| 65-74 | 27% | $17,100 |
| 75+ | 13% | $13,900 |
Credit Card Debt
| Age Group | % With CC Debt | Avg Balance |
|---|---|---|
| Under 35 | 41% | $4,200 |
| 35-44 | 48% | $6,500 |
| 45-54 | 49% | $7,200 |
| 55-64 | 47% | $6,900 |
| 65-74 | 38% | $5,400 |
| 75+ | 25% | $3,800 |
Total Debt Relative to Assets
Debt is only meaningful in context of what you own. Net worth (assets minus debt) rises with age even as debt loads shift:
| Age Group | Avg Total Assets | Avg Total Debt | Avg Net Worth |
|---|---|---|---|
| Under 35 | $250,900 | $67,400 | $183,500 |
| 35-44 | $683,900 | $134,400 | $549,600 |
| 45-54 | $1,110,500 | $134,700 | $975,800 |
| 55-64 | $1,674,900 | $108,300 | $1,566,900 |
| 65-74 | $1,860,600 | $66,000 | $1,794,600 |
Healthy Debt Benchmarks
Debt-to-Income Ratio Guidelines
| DTI Ratio | Assessment |
|---|---|
| Under 20% | Excellent |
| 20-35% | Good |
| 36-43% | Borderline — watch it |
| Over 43% | High risk — reduce debt |
Debt Payoff Priority Order
- High-interest debt (credit cards, personal loans over 10%)
- Auto loans
- Student loans
- Mortgage (lowest priority — tax-deductible, builds equity)
Related: Average Credit Card Debt by Age | Average Mortgage Debt by Age | Average Student Loan Debt by Age
Sources
- Board of Governors of the Federal Reserve System. “Selected Interest Rates.” federalreserve.gov/releases/h15
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy