The average household debt in Nevada is $66,020 per capita. Nevada is one of only seven states with no income tax, but Nevadans face some of the highest unemployment rates in the nation and carry high debt balances compared to other states. The state's government debt stands at $10,232.31 per capita, which is high compared to the state’s GDP, Oregon ranks 16th-highest for state debt per capita. The total government debt of $43 billion accounts for 14.59% of Oregon’s GDP, giving the Beaver State the 10th-highest rank for that metric nationwide. The average Oregon household owes $66,950, which is equivalent to 88.49% of the median household income. Oregonians have the seventh-highest household debt in the nation. When comparing this figure to median annual income, it's equivalent to 99.85% of a typical Colorado salary. Residents of Colorado have the highest average debt by state at $89,170 per household. While this is relatively low compared to other states, Colorado’s debt represents 14.20% of the GDP, putting the state at the 11th-worst rank for that metric. ColoradoĬoming in as the third most indebted, Colorado's government holds $11,940.00 in debt per capita. The nation’s most populous state is also among the worst states for saving money. This places the Golden State second on our list of the most indebted states.Ĭalifornia's government and household debts stand at $13,867.55 and $84,730 per capita, which amounts to 14.86% of the state's GDP and 92.55% of the median household income, respectively. CaliforniaĬalifornia has the second-highest household debt balance and fourth-highest government debt balance across all states. And Hawaii’s $19.7 billion in government debt breaks down to $13,681.67 per capita, which is 19.49% of the state's GDP. That’s equal to 89.39% of the median household income, resulting in the state ranking fifth-highest in this metric. The Aloha State ranks third-highest in debt per capita, with the average resident carrying $82,650 in debt. Hawaii scored 100 out of 100 in our study due to multiple factors, including government debt and individual debt relative to the state’s gross domestic product (GDP) and household income. To provide context, this debt load is a considerable financial strain, constituting 89.39% of the median income. The state ranks third-highest for household debt per capita, with the average resident carrying a debt of $82,650. Wyoming holds the smallest state debt as a percentage of GDP, at just 4.11%.Idaho has the lowest per capita government debt in the nation, at $3,107.52, which accounts for 5.43% of the state’s total GDP.Colorado recorded the highest household debt per capita, with a sum of $89,170, which constitutes 99.85% of the average annual earnings of a Colorado resident.The total state debt balance of $19.7 billion represents 19.49% of the state’s GDP. Hawaii is the most indebted state, with government debt at $13,681.67 per capita.
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