Consumer debt levels keep hitting all-time highs. But Credit Karma data looking at average consumer debt for our more than 40 million members shows there are still some cities where borrowing isn’t spiking so high.Credit Karma members in Detroit, MI have less than 25 percent of the debt our members in Frisco, TX have – where consumers had the highest amount of consumer debt in last week’s list.
In 2014, Bloomberg reported that rising consumer debt levels were largely driven by increases in auto loans, credit card debt and student loans. These cities appear to be defying that trend, though data from the US Census Bureau shows that many of them also have high poverty levels and lower incomes which may be an indicator that they cannot access credit as easily.
Read on for the full list of cities where Credit Karma members have the least consumer debt:
15 US Cities With The Least Consumer Debt
- Detroit, MI, $26,188.65
- Bronx, NY, $30,602.06
- Cleveland, OH, $30,920.74
- Paterson, NJ, $31,262.18
- Hartford, CT, $31,296.42
- Buffalo, NY, $32,113.28
- Newark, NJ, $33,265.09
- Queens, NY, $35,232.48
- Elizabeth, NJ, $35,467.08
- El Monte, CA, $35,823.93
- Pasadena, TX, $36,407.85
- Warren, MI, $36,423.61
- Springfield, MA, $37,134.19
- Brownsville, TX, $37,426.38
- Milwaukee, WI, $37,930.50
* Based on all Credit Karma members who pulled their credit profile data from July 2014 through June 2015 and live in a city with a population greater than 100,000.