Experian’s most recent Credit Trends study analyzing current debt levels and credit scores in the top 20 major U.S. metropolitan areas found that Detroit, Michigan, residents have the lowest average debt ($23,604) and Dallas, Texas, residents have the highest average debt ($28,240).1
Nineteen of the 20 cities analyzed showed increases in their average debt amount compared with four years ago, which signals that lenders are continuing to ease lending standards. It’s also a reminder that lenders should monitor and adjust lending strategies regularly in order to compete effectively in the current lending environment.
Experian’s Credit Trends analysis: Average debt in the largest U.S. cities.
