The median non-mortgage debt in the 50 largest U.S. cities is nearly $17,000 and one generation ranked the highest for carrying the most debt, according to a new analysis.
Researchers with Lending Tree analyzed about 400,000 randomized credit reports from Lending Tree users in the 50 largest U.S. metros to see how non-mortgage debt breaks down by generation and where balances run the highest.
Here's what to know.
What type of debt are people carrying?
Gen Xers had the highest median balance debt at $24,723, followed by millennials at $21,842. Gen Zers were carrying a median balance of $11,854 while baby boomers had $10,898.
Gen Xers also have the highest median non-mortgage debt in 45 of the 50 metro areas analyzed, with millennials taking the top spot in the other five.
Baby boomers
had the highest rate of credit card debt at 91.9% across the 50 largest metros, compared to 72.1% of Gen Zers, but Gen X cardholders had the highest median balance of $6,124. Gen Xers in San Diego had the highest median balance in the country at $7,931 – the highest balance for any generation in any metro area analyzed.
Gen Xers carried the most auto loan debt, with nearly half (48.1%) having a loan with a median balance of $23,254. Houston Gen Xers had the highest median balance at $29,464 while San Antonio was the top city with the highest balances for other generations. The median balances of millennials was $26,257, while baby boomers had loans of $25,968 and Gen Zers had loans of $21,656.
Student loan debt is most common with Gen Z and millennials, with nearly 32% of both generations having a loan compared to 20% of Gen Xers. But the Gen Xers carried the biggest balances, with the average median of $37,939 compared to $16,592 among Gen Z borrowers. Gen X borrowers living in Richmond, Virginia, had the highest median balance of $51,097.
Why are Gen Xers the generation with the most debt?
Gen Xers are getting pulled in a bunch of different directions financially with many simultaneously supporting their kids and their elderly parents while trying their best to build their own retirement nest egg, said Matt Schulz, LendingTree chief consumer finance analyst.
"All of that means very little cash is left over to build emergency funds and pay down credit cards, car loans and other types of debt, so it should really be no surprise that Gen Xers have more non-mortgage debt than any other generation," Schulz told USA TODAY.
Additionally, Schulz said, many Gen Xers are still in their peak earning years and have strong credit scores, making them really attractive to lenders and giving them easier access to credit than other generations.
"That can be a double-edged sword, though. It can give them some much-needed flexibility, but it can also make it really easy for debt to pile up quickly,” he said.
Which cities have the highest median credit card debt?
Here's a breakdown of the highest median credit card debt by generations and the top cities:
Gen Z
- San Diego: $2,391
- Denver: $2,342
- San Jose, California: $2,299
- New York: $2,291
- Seattle: $2,290
Millennials
- Denver: $4,976
- Austin: $4,829
- Miami: $4,652
- Boston: $4,593
- San Diego: $4,554
Gen X
- San Diego: $7,931
- Denver: $7,689
- Miami: $7,588
- Austin: $7,452
- San Francisco: $7,365
Baby boomers
- Miami: $6,505
- Houston: $6,034
- Austin: $5,968
- Riverside, California: $5,812
- Jacksonville, Florida: $5,539
Many are keeping debt a secret
In a separate study, nearly 1 in 2 respondents with debt (48%) had kept it a secret from someone close to them. Among respondents with credit card debt in a study shared exclusively with USA TODAY by Freedom Debt Relief, 62% said it's the most stressful debt they've carried.
Nearly 1 in 4, or 23%, had hidden a debt, or its true size, from their partner or spouse. Thirty-five percent hid the debt from a parent or family member and 22% hid it from a friend.
Fear of being judged makes it hard to tell others about what we’re experiencing, take an honest look at just how much we owe and seek help, Jason Pack, chief revenue officer of Freedom Debt Relief, told USA TODAY.
"These delays in addressing the problem mean our debts continue to grow, deepening the shame many of us felt in the first place," he said.
"When our credit cards become intertwined with how we see ourselves, debt struggles can feel like personal failures. That can lead to self-doubt and a reluctance to confront these challenges or explore options. Breaking that cycle starts with understanding that seeking help with debt is itself a responsible decision and doesn’t have to be a source of shame," he said.
Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@USATODAY.com or follow her on X, Facebook or Instagram @blinfisher and @blinfisher.bsky.social on Bluesky. Sign up for our free The Daily Money newsletter, which breaks down complex consumer and financial news. Subscribe here.
This article originally appeared on USA TODAY: Which generation carries the highest debt?
