Is your debt normal for your age?
Debt is one of those financial topics where almost no one knows what the typical person in their situation is actually carrying. The answer varies enormously by age, and the range within each age group is wide enough that context matters more than the raw number. Enter your age and total debt to see where you stand among your peers.
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What is the average American debt?
Total household debt in the US reached approximately $17.5 trillion in Q4 2024, according to the Federal Reserve Bank of New York. The median total debt per family, however, varies enormously by age. Federal Reserve SCF 2022 data shows the median is approximately $39,000 for families under 35 (driven largely by student loans), rising to around $105,000 for 35-44 year olds (where mortgage debt becomes the dominant component), then declining in older age groups as mortgages are paid down.
Mean debt figures are higher than medians because a small number of households carry very large mortgage and commercial debt. For most people, the median is a more representative comparison point.
How much credit card debt is normal?
The median credit card balance for US households that carry a balance is approximately $2,900, according to the Fed SCF 2022. About 46% of credit card holders carry a balance from month to month (i.e., do not pay in full). Among those who do carry a balance, the average is around $5,700. Credit card debt tends to peak in the 35-54 age group, when household expenses are highest. For households that pay in full each month, the revolving balance is effectively zero for comparison purposes.
Is student debt normal?
Student loan debt is the dominant form of debt for Americans under 35. The median student loan balance for borrowers in this age group is approximately $22,000. Approximately 43 million Americans hold federal student loan debt. The average (mean) balance is considerably higher at around $37,000, pulled up by graduate and professional degree borrowers. Student debt is concentrated in the under-40 population and declines sharply in the 45+ cohorts where repayment is typically complete.
Frequently asked questions
Yes. Mortgage debt is secured against an asset (the property) that typically appreciates over time. It is often called "good debt" not because it is pleasant to carry, but because it is leveraged against an asset. A 35-year-old with $200,000 in mortgage debt and a home worth $300,000 has $100,000 in net housing equity, a very different situation from someone with $200,000 in unsecured debt. This calculator shows total debt for comparison purposes, but debt composition matters significantly for financial health assessment.
Total debt includes all outstanding balances you are legally obligated to repay: mortgage principal outstanding, home equity loans and lines of credit, student loans (federal and private), credit card balances carried from month to month, auto loans, personal loans, and medical debt. It does not include obligations not yet incurred (future rent, utility bills) or contingent liabilities. For this comparison, enter the total outstanding principal across all your debt accounts.
The 35-44 age group sits at the intersection of three debt-generating life events: home purchase (mortgage), family formation (often requiring larger homes and vehicles), and ongoing student loan balances from prior education. By contrast, the under-35 group has lower mortgage penetration (fewer have bought homes yet) while the 45+ group is typically in the repayment and payoff phase. The 35-44 cohort is the life stage of peak financial leverage, which is normal and expected rather than a cause for alarm when the debt is secured against appreciating assets.
Debt-to-income ratio (DTI) is often a more useful measure than absolute debt levels. Mortgage lenders typically require total debt payments to be below 43% of gross monthly income for a qualified mortgage. A common guideline is that housing costs (mortgage payment) should not exceed 28% of gross income, and total debt payments should not exceed 36%. These are guidelines, not universal rules. High debt at high income can be sustainable; moderate debt at low income can be precarious. This calculator shows absolute debt comparison; DTI analysis requires both figures.
- Board of Governors of the Federal Reserve System. Survey of Consumer Finances 2022. federalreserve.gov.
- Federal Reserve Bank of New York. Consumer Credit Panel Q4 2024. newyorkfed.org.
- TransUnion. Consumer Credit Industry Insights Q4 2024. transunion.com.