NEW JERSEY – With U.S. household debt reaching $18.59 trillion in the third quarter of 2025, a new report from WalletHub shows that New Jersey experienced one of the nation’s largest debt increases.
According to the personal-finance company’s analysis, based on data from TransUnion and the Federal Reserve, the average household debt in New Jersey rose by $636 in the third quarter — bringing the average household total to $187,588. That marks the 12th-largest debt increase among all 50 states.
Nationally, total household debt increased by $69 billion in the third quarter, a 19% smaller jump than the increase seen in Q3 2024, according to WalletHub’s findings. The average U.S. household now carries $154,152 in total debt, which remains about $13,466 below the all-time high.
Despite the increases, the report noted that Americans overall remain in a relatively stable financial position. The total debt-to-deposits ratio is still below pre-pandemic levels and roughly 46% lower than its peak in the early 2000s. The total debt-to-assets ratio, currently at 9.36%, also indicates households are maintaining strong balance sheets.
- Hawaii
- California
- Colorado
- Utah
- Washington
Top 5 states with the smallest debt increases:
- Mississippi
- West Virginia
- Oklahoma
- Kentucky
- Arkansas
For the full report, click here.
