Alamo City residents' average unsecured personal load debt increased 8.32% over the same quarter of 2023, hitting $6,249. The city ranked 30th in the nation when it comes to average personal load debt, researchers found.
“This indicates that people may be more desperate to borrow money, though it’s important to look at other factors like residents’ credit scores and delinquency rates in order to get the full picture,” said WalletHub Editor John Kiernan said in a statement. “People in some cities are managing their increased debt loads better than others, and in some cases, more debt could indicate increased creditworthiness.”
At $7,874, Austin’s average personal loan debt was higher than San Antonio’s. However our northern neighbor fared well on the list because that average was a decrease of nearly 1% from the same period last year. The only other Texas city to improve was Lubbock, which reported a 1.47% decrease in debt to $4,960.
The biggest increases in personal loan debt were in Detroit, where it was up 18%. The increase of 15.8% in Wichita, Kansas, and 15.5% in Madison, Wisconsin, were the second and third highest increases, respectively.
Scottsdale, a suburb of Phoenix, posted the highest average personal debt by dollar amount at $13,808. However, that number represented a nearly 2.1% decrease.
In March, WalletHub crunched the credit card debt numbers for cities and ranked San Antonio 116th in increased debt from paying with plastic. Household credit card debt for the city was up $1,072 to a household average of $14,153 in the first quarter compared to the same period of 2023.
Total credit card debt in San Antonio was up $582 million for the quarter, hitting $7.7 billion.
Follow us: Apple News | Google News | NewsBreak | Reddit | Instagram | Facebook | Twitter| Or sign up for our RSS Feed
