A new report from WalletHub ranks New York as the 19th most financially distressed state in the nation, as Americans continue to grapple with debt, delinquencies, and stagnant credit health.
The study, released Wednesday, uses a mix of metrics—credit scores, delinquent accounts, bankruptcy filings, and online search trends—to rank all 50 states by the level of financial strain on residents.
According to the findings, New York placed:
- 41st in average credit score as of March,
- 19th in the year-over-year change in the share of people with accounts in distress,
- 21st in the change in average number of accounts in distress,
- 37th in the change in bankruptcy filings from March 2024 to March 2025, and
- 10th in the search interest for “loans.”
While New York sits just inside the top 20 for overall distress, some states are faring far worse. Texas ranked highest for financial distress nationwide, with residents there holding the ninth-lowest average credit score and the third-highest number of deferred or forbearance accounts.
“Measuring the share of residents in financial distress is a good way to take the pulse of a state and see whether people are generally thriving or having trouble making ends meet,” said WalletHub analyst Chip Lupo.
The report comes amid growing concerns about consumer debt, with 8.8 million Americans currently behind or in delay on at least one credit account.
WalletHub’s analysis aims to highlight where economic recovery may be lagging and to help state leaders and financial institutions better understand where support may be most needed.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to news@fingerlakes1.com.