Houston Residents Carry $44,640 in Non-Mortgage Debt, Ranking Third Among 50 Largest Metros
Updated
Updated · KPRC Click2Houston · Jun 12
Houston Residents Carry $44,640 in Non-Mortgage Debt, Ranking Third Among 50 Largest Metros
1 articles · Updated · KPRC Click2Houston · Jun 12
Summary
$44,640 in average non-mortgage debt puts Houston third among the 50 largest U.S. metros, nearly $7,000 above the $37,827 big-city average.
Auto loans drive much of that burden in Houston, where residents average $16,357 in car debt, alongside $12,556 in student loans and $8,583 in credit card balances.
Nearly 98% of Houston-area residents hold some form of non-mortgage debt, with LendingTree saying Texas metros rank high partly because residents rely heavily on vehicles and larger auto loans.
The local strain mirrors a national climb in household debt to a record $18.8 trillion, as still-elevated costs for housing, groceries and insurance push more families toward borrowing.
Consumer advocates say struggling households should move early by building a budget, seeking lender hardship programs and using nonprofit credit counselors to lower rates and organize repayment.