States With the Highest Debt -- And How the Ranking Is Changing Year to Year
If you had to guess which U.S. states have the highest debt in the nation, odds are good you’d bank on those with an exorbitant cost of living, like California, New York or Hawaii. But none of these states crack the top five. A new MoneyLion study shows that the states where total debt has grown by more than 100% over a 10-year period include Idaho and Utah.
MoneyLion studied key household debt statistics from the New York Federal Reserve including the total debt per state and per capita (individual) for 2025 to find which states have experienced the greatest yearly changes in debt. Researchers calculated the percentage changes over a period of one year (2024 to 2025), five years (2020 to 2025) and 10 years (2015 to 2025). The ranking organizes every state in order of largest 10-year percentage increase for each debt type. A full methodology is included at the end of this article.
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Key Findings
There are five states where total debt has skyrocketed by more than 85% over 10 years. These states and their percentage changes are Idaho (106.5%), Utah (104.4%), Texas (93%), Nevada (90.6%) and Florida (88.1%).
Three states have kept their 10-year debt growth under 30%: Illinois (28.3%), Connecticut (26.4%) and Alaska (25.1%).
Idaho and Texas are in the top five for highest debt over one, five and 10 years. Idaho ranked first over five (46.9%) and 10 years (106.5%) and second for one year (6.2%). Texas has occupied the third place ranking for highest debt over one year (5.9%), five years (43%) and 10 years (93%).
Alaska and Vermont are consistently in the bottom five with lowest debt over one, five and 10 years. Alaska came in 50th place for 10 years (25.1%), 49th for five years (17%) and 48th for one year (2%). Vermont ranked 47th for 10 years (31.4%) and 46th for five years (18.1%) and one year (2.3%).
Which states have the highest and lowest debt changes over one year? South Carolina (6.5%) has eclipsed Idaho (6.2%) for the largest total debt increase. Rhode Island (-0.8%) is the only state to experience a negative percentage change. Over a 10-year timespan, Rhode Island ranked 35th for total debt at a growth rate of 39.6%.
Here’s what debt looks like in every U.S. state, ranked from highest to lowest change over 10 years.
1. Idaho
Total debt per capita (2025): $69,450
Total debt per state (2025): $114,382,761,000
1-year change (%): 6.2%
5-year change (%): 46.9%
10-year change (%): 106.5%
2. Utah
Total debt per capita (2025): $83,350
Total debt per state (2025): $230,121,015,000
1-year change (%): 5.5%
5-year change (%): 44.9%
10-year change (%): 104.4%
3. Texas
Total debt per capita (2025): $60,020
Total debt per state (2025): $1,528,045,578,800
1-year change (%): 5.9%
5-year change (%): 43%
10-year change (%): 93%
4. Nevada
Total debt per capita (2025): $71,260
Total debt per state (2025): $203,769,395,200
1-year change (%): 5.8%
5-year change (%): 38.4%
10-year change (%): 90.6%
5. Florida
Total debt per capita (2025): $61,890
Total debt per state (2025): $1,324,111,794,000
1-year change (%): 5.5%
5-year change (%): 42.1%
10-year change (%): 88.1%
6. South Carolina
Total debt per capita (2025): $59,460
Total debt per state (2025): $285,664,867,200
1-year change (%): 6.5%
5-year change (%): 38.3%
10-year change (%): 81.7%
7. Arizona
Total debt per capita (2025): $70,850
Total debt per state (2025): $447,760,664,000
1-year change (%): 5.6%
5-year change (%): 39%
10-year change (%): 81.4%
8. Tennessee
Total debt per capita (2025): $56,690
Total debt per state (2025): $356,377,149,800
1-year change (%): 5.1%
5-year change (%): 38.9%
10-year change (%): 77.2%
9. Colorado
Total debt per capita (2025): $92,690
Total debt per state (2025): $468,397,792,200
1-year change (%): 3.8%
5-year change (%): 31.6%
10-year change (%): 75%
10. North Carolina
Total debt per capita (2025): $61,070
Total debt per state (2025): $577,716,093,000
1-year change (%): 5.2%
5-year change (%): 36.8%
10-year change (%): 72.1%
11. Washington
Total debt per capita (2025): $85,880
Total debt per state (2025): $588,903,206,400
1-year change (%): 3.5%
5-year change (%): 32%
10-year change (%): 70.6%
12. Georgia
Total debt per capita (2025): $62,070
Total debt per state (2025): $592,028,625,600
1-year change (%): 4.5%
5-year change (%): 32%
10-year change (%): 66.9%
13. Montana
Total debt per capita (2025): $58,390
Total debt per state (2025): $56,423,424,800
1-year change (%): 3.9%
5-year change (%): 29.5%
10-year change (%): 65.8%
14. Arkansas
Total debt per capita (2025): $43,090
Total debt per state (2025): $111,198,054,000
1-year change (%): 4.4%
5-year change (%): 29.5%
10-year change (%): 57.8%
15. Oregon
Total debt per capita (2025): $69,640
Total debt per state (2025): $261,438,309,600
1-year change (%): 3.8%
5-year change (%): 25.3%
10-year change (%): 57.7%
16. Alabama
Total debt per capita (2025): $48,910
Total debt per state (2025): $214,771,635,600
1-year change (%): 4.7%
5-year change (%): 29.8%
10-year change (%): 55.2%
17. Delaware
Total debt per capita (2025): $66,170
Total debt per state (2025): $61,520,895,800
1-year change (%): 5.1%
5-year change (%): 29.1%
10-year change (%): 54.7%
18. South Dakota
Total debt per capita (2025): $52,270
Total debt per state (2025): $39,847,511,800
1-year change (%): 3.8%
5-year change (%): 28.1%
10-year change (%): 53.6%
19. Indiana
Total debt per capita (2025): $49,330
Total debt per state (2025): $290,527,061,800
1-year change (%): 4.8%
5-year change (%): 28.3%
10-year change (%): 53.5%
20. Nebraska
Total debt per capita (2025): $49,530
Total debt per state (2025): $81,678,932,400
1-year change (%): 2.9%
5-year change (%): 25.3%
10-year change (%): 51%
21. Mississippi
Total debt per capita (2025): $41,450
Total debt per state (2025): $103,736,086,000
1-year change (%): 3.6%
5-year change (%): 23.9%
10-year change (%): 49.8%
22. California
Total debt per capita (2025): $87,850
Total debt per state (2025): $2,953,439,692,000
1-year change (%): 2.9%
5-year change (%): 25.8%
10-year change (%): 48.4%
23. Oklahoma
Total debt per capita (2025): $43,170
Total debt per state (2025): $147,935,819,400
1-year change (%): 4.2%
5-year change (%): 29.8%
10-year change (%): 48.3%
24. Maine
Total debt per capita (2025): $53,360
Total debt per state (2025): $68,402,184,000
1-year change (%): 2.7%
5-year change (%): 25.3%
10-year change (%): 48.1%
25. North Dakota
Total debt per capita (2025): $53,300
Total debt per state (2025): $34,310,276,000
1-year change (%): 3%
5-year change (%): 22.9%
10-year change (%): 47.7%
26. Missouri
Total debt per capita (2025): $49,420
Total debt per state (2025): $266,765,206,400
1-year change (%): 4.4%
5-year change (%): 24.3%
10-year change (%): 46.2%
27. Kentucky
Total debt per capita (2025): $43,160
Total debt per state (2025): $167,757,740,800
1-year change (%): 3.4%
5-year change (%): 24.1%
10-year change (%): 45.8%
28. Massachusetts
Total debt per capita (2025): $77,400
Total debt per state (2025): $475,502,256,000
1-year change (%): 2.5%
5-year change (%): 21.6%
10-year change (%): 43.6%
29. Louisiana
Total debt per capita (2025): $48,250
Total debt per state (2025): $186,762,240,000
1-year change (%): 2.6%
5-year change (%): 19.7%
10-year change (%): 43.4%
30. Wisconsin
Total debt per capita (2025): $49,210
Total debt per state (2025): $252,225,855,000
1-year change (%): 3.6%
5-year change (%): 21.9%
10-year change (%): 42.4%
31. New Hampshire
Total debt per capita (2025): $66,480
Total debt per state (2025): $85,795,099,200
1-year change (%): 2.6%
5-year change (%): 21.7%
10-year change (%): 42.4%
32. Michigan
Total debt per capita (2025): $48,050
Total debt per state (2025): $422,109,640,000
1-year change (%): 2.8%
5-year change (%): 20.7%
10-year change (%): 41.4%
33. Wyoming
Total debt per capita (2025): $57,120
Total debt per state (2025): $28,636,540,800
1-year change (%): 4.5%
5-year change (%): 27.6%
10-year change (%): 40%
34. Kansas
Total debt per capita (2025): $46,720
Total debt per state (2025): $114,458,393,600
1-year change (%): 3.7%
5-year change (%): 23.1%
10-year change (%): 39.9%
35. Rhode Island
Total debt per capita (2025): $60,090
Total debt per state (2025): $57,340,281,600
1-year change (%): -0.8%
5-year change (%): 21%
10-year change (%): 39.6%
36. New Jersey
Total debt per capita (2025): $69,550
Total debt per state (2025): $575,924,076,000
1-year change (%): 3.3%
5-year change (%): 24.8%
10-year change (%): 39.4%
37. New Mexico
Total debt per capita (2025): $49,260
Total debt per state (2025): $86,957,692,800
1-year change (%): 3.8%
5-year change (%): 23.1%
10-year change (%): 39%
38. Ohio
Total debt per capita (2025): $46,780
Total debt per state (2025): $489,417,973,600
1-year change (%): 3.2%
5-year change (%): 21.2%
10-year change (%): 38.7%
39. Minnesota
Total debt per capita (2025): $63,860
Total debt per state (2025): $312,277,954,400
1-year change (%): 2.5%
5-year change (%): 19.4%
10-year change (%): 37.8%
40. West Virginia
Total debt per capita (2025): $37,850
Total debt per state (2025): $59,503,228,000
1-year change (%): 5.2%
5-year change (%): 22.4%
10-year change (%): 37.8%
41. New York
Total debt per capita (2025): $59,420
Total debt per state (2025): $994,272,483,200
1-year change (%): 1.9%
5-year change (%): 21.7%
10-year change (%): 37.7%
42. Iowa
Total debt per capita (2025): $47,410
Total debt per state (2025): $129,068,984,000
1-year change (%): 2.3%
5-year change (%): 19.7%
10-year change (%): 37.3%
43. Pennsylvania
Total debt per capita (2025): $50,360
Total debt per state (2025): $579,495,541,600
1-year change (%): 2.7%
5-year change (%): 19.7%
10-year change (%): 36.4%
44. Virginia
Total debt per capita (2025): $77,060
Total debt per state (2025): $585,780,837,200
1-year change (%): 3.2%
5-year change (%): 21.4%
10-year change (%): 35.8%
45. Hawaii
Total debt per capita (2025): $83,480
Total debt per state (2025): $98,015,537,600
1-year change (%): 3.1%
5-year change (%): 16.7%
10-year change (%): 35.1%
46. Maryland
Total debt per capita (2025): $81,390
Total debt per state (2025): $440,031,779,400
1-year change (%): 3%
5-year change (%): 17.4%
10-year change (%): 32.1%
47. Vermont
Total debt per capita (2025): $52,910
Total debt per state (2025): $30,179,864,000
1-year change (%): 2.3%
5-year change (%): 18.1%
10-year change (%): 31.4%
48. Illinois
Total debt per capita (2025): $54,050
Total debt per state (2025): $593,363,062,000
1-year change (%): 2.5%
5-year change (%): 17.9%
10-year change (%): 28.3%
49. Connecticut
Total debt per capita (2025): $67,530
Total debt per state (2025): $217,882,843,800
1-year change (%): 2.4%
5-year change (%): 18.2%
10-year change (%): 26.4%
50. Alaska
Total debt per capita (2025): $69,460
Total debt per state (2025): $38,743,398,800
1-year change (%): 2%
5-year change (%): 17%
10-year change (%): 25.1%
Methodology: For this study, MoneyLion analyzed each U.S. state to find the yearly changes in debt. A number of factors was sourced from the U.S. Census 2024 ACS including each state’s total population, population ages 65 and over, population ages 16 and over, population ages 16 and over employed in the civilian labor force, the civilian labor force unemployment rate, total households, median household income, mean household income, per capita income, households with Social Security income, mean Social Security income for households that receive it, households with retirement income, mean retirement income for households that receive it, households with food stamps and SNAP benefits, households with public cash assistance, mean public cash assistance for households that receive it, total family households, mean income for family households, median income for family households, and households with investments or dividends or net-rental income. The single-family home value was sourced from Zillow Home Value Index for September 2026. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data on 10/26/26, the average mortgage cost was calculated for each state. The cost-of-living indexes were sourced from Missouri Economic Research and Information Center, and using the national average expenditure costs as sourced from the 2024 Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs were calculated for each state. Using the average expenditure cost and average mortgage cost, the total cost of living for necessities was calculated for each state. Using the 50/30/20 finance rule that states that needs should not exceed 50% of median household income, the cost of living for necessities was doubled to find the comfortable cost of living. Using the household debt statistics from the NY Federal Reserve, the total debt, auto debt, credit card debt, mortgage debt, and student loan debt was sourced for 2025, 2024, 2023, 2022, 2021, 2020, and 2015. The 1-year dollar and percentage changes were calculated for each year. The 5 year and 10-year dollar and percentage changes were calculated between 2025, 2020, and 2015. The states were sorted to show the largest 10-year percentage increase for each debt type. All data is up to date as of 10/26/26.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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