A new study reveals how much debt the average consumer has and where it is the worst.Researchers at LendingTree analyzed more than 428,000 anonymized credit reports in the 100 largest U.S. metropolitan areas to show how consumers carry non-mortgage debt across generations and where they have the highest balances. Across the four generations analyzed, the company found that the median non-mortgage debt in the largest metros was $24,668.
According to the findings, the youngest adult generation owed a median of $27,781.Millennials with non-mortgage debt owed the most in El Paso, Texas, at a median of $42,982. This is the only generation analyzed where non-mortgage debt wasn't the highest in McAllen. Across the 100 largest metros, millennials owed a median of $30,558.Across all generations in the 100 largest metros, Gen Xers in McAllen had the highest non-mortgage debt at a median balance of $46,166.