debtThe average debt per consumer in the Boston metro area is $24,670, according to a new report, slightly less than the national average.

Credit reporting agency Experian ranked average debt per consumer in the top 20 major U.S. metropolitan areas and found approximately 65 percent of these areas exceeded the national average consumer debt, which was $24,775 in March.

Within the top 20 major U.S. metropolitan areas, Seattle is the most debt-burdened city, coming in at almost $2,000 above the national average debt per consumer, while Los Angeles has the lowest average debt.

"It’s important to look at the whole picture when evaluating how consumers are actually managing their credit," said Maxine Sweet, vice president of public education at Experian. "Seattle ranks the highest in terms of average debt per consumer. However, additional data shows that Seattle’s consumers have very few late payments and are not maxing out their credit cards, so they are using their credit wisely and maintaining higher credit scores."

 

Report: Hub Residents Average Debt Close To $25K

by Banker & Tradesman time to read: 1 min
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