NEW JERSEY — New Jersey ranked 12th in the nation for the largest household debt increases during the third quarter of 2026, according to a new study released Wednesday by personal finance company WalletHub.
The study, based on data from TransUnion and the Federal Reserve, found that the average debt in New Jersey increased by $1,505 during the quarter, while the average household owed $192,321.
According to WalletHub, total household debt nationwide reached $19.1 trillion in the third quarter of 2026, an increase of $166 billion from the previous quarter. That increase was 131% larger than the increase recorded during the same quarter in 2025.
Nationally, the average household owed $157,899 at the end of the third quarter, which was $15,984 below the all-time high.
The study also examined household debt in relation to deposits and assets to assess consumers’ overall financial health. WalletHub found that the ratio of total household debt to deposits remained below pre-COVID-19 levels and was approximately 49% lower than its peak in the early 2000s.
The ratio of total household debt to assets stood at 8.7%, which WalletHub described as a very healthy level.
In New Jersey, the study’s state-by-state data listed average household debt at $187,757, with an average increase of $628. Total household debt in the state was approximately $590.1 billion, representing an increase of about $2.2 billion.
The findings highlight rising household debt levels in New Jersey and across the country, although WalletHub’s national measures of debt relative to deposits and assets indicate that consumers remain in a relatively healthy financial position.
The full study is available at https://wallethub.com/edu/debt-by-state/129889.
