How much unsecured debt are Americans carrying?

Credit cards, student loans, personal loans – many Americans have them, but how much do people actually owe? Data from YouGov Profiles shows how much unsecured debt American households have. 

Some 43% of adults say their household doesn’t owe anything in unsecured debt. But among 18-24 aged adults, the number jumps to 55%. That’s the highest of any age group. Contrast that with older Americans: only 38% of those aged 55+ say they’re debt-free.

Adults aged between 35 and 54 are more likely to fall into the brackets where unsecured debt starts getting into five-figure territory. About 8% of Americans aged 45-54 say they owe between $10,000 and $19,999 – more than any other group. Adults aged 25-44 are also more likely than average to report debts between $20,000 and $49,999. And while just 1% of Americans say they owe $100,000 or more, that number rises to 2% for people aged 35-44.

People in lower-income households (defined here as earning less than 75% of the median) are more likely to be debt-free than those in the middle. Some 44% of this group say they don’t carry any unsecured debt – higher than the 40% of middle-income Americans who say the same.

But for those who do carry debt, it tends to be on the lower end. A quarter of low-income Americans (23%) report owing less than $1,000. Among high-income households (earning more than 200% of the median), that drops to just 12%.

That doesn’t mean high earners are completely in the clear. In fact, they’re slightly more likely than average to carry $100,000 or more in unsecured debt (2% vs. 1%).

The short version: most Americans aren’t drowning in unsecured debt, but there are clear pockets of the population where it’s more common. Younger Americans are more likely to be debt-free, while people in their 30s and 40s are more likely to owe significant amounts. And while low-income households tend to carry smaller balances, higher-income groups aren’t immune to large debts either.

Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative and weighted by age, gender, education, region, and race.