New York ranked 14th in the nation for growth in consumer debt late last year, as Americans continued adding to credit card and auto loan balances, according to a new WalletHub study.
The personal finance company analyzed proprietary data to determine where credit card, auto loan and personal loan balances increased the most from the third to fourth quarter of 2025. Nationally, total household debt rose by $257 billion during 2025 — more than eight times the increase seen in 2024 — with the average household owing $155,594 at year’s end.
In New York, the average credit card balance rose 2.54% during the final quarter of 2025 to $9,274. The average auto loan balance increased 0.75% to $26,195. Personal loan balances in the state declined 3.17% to an average of $11,501 over the same period.
WalletHub Editor John Kiernan said high interest rates make rising debt especially concerning, noting that balances accumulated over the past decade could become unsustainable for some households. Maine residents saw the largest percentage increase in debt during the quarter, driven primarily by an 8% jump in average credit card balances.
Experts cited in the report said consumers often take on more debt due to cash-flow gaps, irregular income, unexpected expenses such as medical bills or car repairs, and easier access to credit. They advised households to create emergency savings funds, establish realistic budgets and avoid carrying high credit card balances to limit financial strain.
Despite the recent increase, WalletHub reported that overall debt-to-deposit and debt-to-asset ratios remain below pre-pandemic and early-2000s levels, suggesting household finances are generally stable compared to historical peaks.
The full report is available on WalletHub’s website.
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