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Value of household debt in the U.S. 2020, by type

Consumers in the United States had 14.3 trillion dollars in debt in June 2020, the majority of which was home mortgages, at 9.78 trillion U.S. dollars. Student loan debt was the second largest component, totaling 1.54 trillion U.S. dollars.

Why is consumer debt important?

Debt influences the Consumer Sentiment Index, which is an important indicator assessing the state of the U.S. economy. The housing market is also seen a bellwether of the economic conditions in the country. The housing industry employs a large number of people, and mortgages are large investments that consumers will pay off over the course of years, sometimes decades. Because of this, financial analysts closely watch consumer debt and its effects on the home purchase outlook.

Attitudes towards debt

Consumer perception of debt differs, depending on the kind of debt in question. While most see a home mortgage as a positive investment, they increasingly look at student loan debt as a negative debt. With education costs increasing, people in the United States are incurring more student loan debt. Credit card debt also has negative connotations.

Value of household debt in the United States as of June 2020, by type

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Release date

December 2020


United States

Survey time period

As of June 2020

Number of respondents

2,076 respondents

Age group

18 years and older

Method of interview

Online survey

Supplementary notes

The source adds the follwing information:
"Any type of debt can include mortgages, home equity lines of credit, auto loans, credit cards, student loans and other household debt, according to the Federal Reserve Bank of New York.
The credit card debt figures in this chart represent revolving credit card balances — those that are carried from month to month — rather than all credit card balances. Total U.S. credit card outstanding debt stands at $922 billion as of June 2020, which includes both revolving and transacting balances."

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Statistics on "Personal debt in the United States"

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