Visualizing the Growth of U.S. Consumer Debt

What We’re Showing

The percentage increase in U.S. household debt by category (2003-2023).

Methodology 

The Kaplan Group analyzed the State Level Household Debt Statistics from 2003 to 2023, sourced from the Federal Reserve Bank of New York. Data were retrieved for auto loans, mortgages, credit cards, and student loans since 2003. The evolution of each of these elements over the last 20 years was calculated. For inflation, the Consumer Price Index (CPI) was utilized.

Key Takeaways 

• Student loan debt is five times larger than it was 20 years ago
• Credit card debt has shown minimal growth since 2023; from 2010 to 2016, it was even lower than in 2003
• The total amount of debt has grown by 81.5% since 2003