According to a report released by the American financial services company WalletHub on August 5th, the average debt of US households reached $152,653 by the end of the second quarter of 2025, falling just $13,809 short of the historical peak.
This data was calculated based on information published by the Federal Reserve Bank of New York. As of the second quarter, total household debt in the US amounted to $18.39 trillion, representing a 1% increase from the previous quarter.
The largest portion of this debt is from mortgage loans, totaling $12.94 trillion, followed by auto loans at $1.65 trillion, student loans at $1.63 trillion, and credit card debt at $1.20 trillion.
Joelle Scally, an economic policy advisor at the New York Fed, noted that despite a slight increase in mortgage delinquency rates recently, overall performance remains at historically good levels.
WalletHub emphasized that adjusting average debt figures for inflation provides a more accurate reflection of current debt levels compared to historical data. The ratio of total household debt to savings is currently 23% below the historical average, and down approximately 47% from the peak in the early 2000s, indicating a relatively stable financial situation for households.
Breaking down the average debt figures for US households in the second quarter, mortgage debt averaged $107,384, auto loans $13,739, student loans $13,598, and credit card debt $10,037.
On the same day, WalletHub also released a survey on household debt involving 200 individuals, revealing concerns about personal debt and economic prospects among many.
The survey showed that 44% of respondents expect household debt to increase further in the next 12 months, over half indicate that their families are facing debt challenges, and nearly four in ten admitted that debt has become a trigger for family conflicts.
In addition, over two-thirds of respondents expressed that their economic situation is not as good as they had imagined, with 55% believing they will never be able to fully repay their debt in their lifetime.
Regarding student loans, more than 20% of respondents felt that the special treatment given to student borrowers by the government over the past five years has been unfair. The Biden administration has implemented various measures to forgive student debt, including canceling $42.8 billion in student loans for 55,000 public servants last December. This action has led to total student loan forgiveness for public service workers under the Biden administration reaching approximately $180 billion and benefiting nearly five million Americans.
However, the Trump administration criticized this policy. In May of this year, the Department of Education resumed student loan collection. Education Secretary Linda McMahon stated that federal courts have ruled multiple times that the Biden administration’s loan forgiveness actions were illegal and criticized the government for trying to make taxpayers foot the bill for the debt.
While WalletHub’s survey indicates concerns about individuals’ debt situations and economic prospects, another survey, the “Consumer Expectations Survey,” from the New York Fed Bank shows that some people are regaining confidence in their financial situations and anticipate a reduction in tax burdens. Simultaneously, concerns about rising unemployment rates have decreased.
The US economy also showed strong performance in the second quarter of 2025. According to preliminary estimates from the Bureau of Economic Analysis, GDP grew by 3% in the second quarter, exceeding economists’ expectations of 2.4% and significantly surpassing the 0.5% contraction in the first quarter.
The White House issued a statement on July 30th, declaring that this growth marks the arrival of the “American Golden Age.” White House Press Secretary Karoline Leavitt stated, “President Trump’s ‘America First’ economic policies have earned the trust of the people, defying the so-called ‘experts’.”
She emphasized that the Trump administration is committed to reducing reliance on foreign products, increasing domestic investment, and creating jobs, fulfilling the promise of “Making America Wealthy Again.”
Translation of the original article “US Households Owed an Average of $152,653 at the End of Q2 2025: Report” was published on the English version of the Epoch Times website.