Borrowing is an important part of a long-term financial plan, whether it’s for an education or a place to call home. But taking on debt comes at a cost.
According to credit bureau Experian, total consumer debt in the U.S. hit a record $18.33 trillion in 2025, up 3.2% from last year. Incorporating all types of debts, from credit card bills to mortgages, that works out to $104,755 per consumer.
Members of Gen Z saw the largest increase year-over-year, but Millennials had the highest average balance.
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How much Americans owe
The average debt balance hasn’t shifted much. U.S. consumers carried an average balance of $104,755 in June 2025, down by less than 1% from $105,580 in June…