States With The Most And Least Debt In 2020 (2024)

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States With The Most And Least Debt In 2020 (2024)

FAQs

Which U.S. state has the least debt? ›

Alaska and Maine both have debts of $9 billion, while New Hampshire and North Dakota complete the list of states with the least debt, each with debts of $10 billion.

Which state has the most debt 2020? ›

U.S. state and local government outstanding debt 2020, by state. In 2020, the federal state of California had about 519.54 billion U.S. dollars of debt outstanding, the most out of any state. New York, Texas, Illinois, and Florida rounded out the top five states with the most debt outstanding in 2020.

Which state is under most debt? ›

In terms of the debt-to-gross state domestic product ratio, a measure of how much the liabilities are as a proportion of the size of the state's economy, Punjab comes out as the worst of the lot, with the ratio at a whopping 48 percent as at March 2023.

What state has the lowest debt per capita? ›

Tennessee had the lowest state debt per capita in fiscal year 2018 at $929 per capita. Nineteen states were above the 2018 per capita state debt average of $3,831, and thirty-one states were below. Massachusetts had the highest state debt per capita in fiscal year 2018 at $11,423 per capita.

Who has the least debt? ›

Countries with the Lowest National Debt
  • Brunei. 3.2%
  • Afghanistan. 7.8%
  • Kuwait. 11.5%
  • Democratic Republic of Congo. 15.2%
  • Eswatini. 15.5%
  • Palestine. 16.4%
  • Russia. 17.8%

Which US city has the most debt? ›

Atlanta dubbed most debt-ridden city

"Atlanta has a lower-than-average income compared to other big American cities, and Georgia has historically had some of the lowest credit scores in the nation (in Atlanta, the average credit score is 675)," Schulz said.

Is California broke compared to Texas? ›

As a result, California has the nation's highest poverty rate when adjusting for the cost of housing, despite having a poverty rate almost equal to the national average — and lower than Texas — without this adjustment (U.S. Census Bureau, 2020 ).

Does Florida have debt? ›

U.S. state and local government debt in Florida FY 1999-2027

In the fiscal year of 2021, Florida's state debt stood at about 24.3 billion U.S. dollars. By the fiscal year of 2027, this is expected to increase to about 30.61 billion U.S. dollars. The national debt of the United Stated can be found here.

Is Texas in debt? ›

As of August 31, 2022 Texas had a total of $64.40 billion in state debt outstanding, including both general obligation and revenue debt.

Who owns most US debt? ›

Top 10 territories that own the most U.S. debt

In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion.

What is the largest form of debt in the US? ›

Mortgage Debt

Americans with a mortgage pay a median monthly payment of $1,595. Accounting for 70% of all American debt, mortgage debt carries the highest total at $10.44 trillion. Forty-two percent of households have mortgages.

What place is in the most debt? ›

The United States has the world's highest national debt at $31.4 trillion. Global debt currently stands at $305 trillion, $45 trillion higher than before the COVID-19 pandemic, according to the Institute of International Finance (IIF) – a global association of the financial industry.

What states have the highest debt to income ratio? ›

Which states have the highest household debt relative to income? By the third quarter of 2022, Hawaii had the highest debt-to-income ratio of any state at 2.26. This figure means that the average household has just over twice as many monthly debt payments as their gross monthly income.

Which US state has the highest average card holder debt? ›

Here's a look at the states with the highest and lowest average American credit card debt, according to the most recent data from Experian. Alaska had the highest credit card debt at $6,787, and Iowa had the lowest with an average credit card balance of $4,609.

Who owes most of US debt? ›

Top 10 territories that own the most U.S. debt

In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion.

When was the US in the least amount of debt? ›

As a result, the U.S. actually did become debt free, for the first and only time, at the beginning of 1835 and stayed that way until 1837. It remains the only time that a major country was without debt. Jackson and his followers believed that freedom from debt was the linchpin in establishing a free republic.

Who has the worst national debt? ›

The United States has the world's highest national debt at $31.4 trillion. Global debt currently stands at $305 trillion, $45 trillion higher than before the COVID-19 pandemic, according to the Institute of International Finance (IIF) – a global association of the financial industry.

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