U.S. Debt and Credit by State: Miami Ranks Worst Credit of Major Metropolitan Cities
As we know, credit and debt has been a sensitive issue for many in the U.S. since the recession started in 2008. In an effort to asses credit health and debt in 2013, Experian has provided us with a digestible way to visualize the average debt and credit scores in the largest metropolitan areas of the U.S., as well as state by state.
Measuring average debt to include credit card, auto loan, personal loan, and student loan (excluding mortgages), Experian found that the state with the least amount of average debt is Michigan in the $25,000 to $25,999 range. California, Utah, Nebraska, Wisconsin, and Kentucky follow closely behind in the $26,000-$26,999 range. For major cities, Los Angeles surprisingly had the lowest average debt at $26,136, followed by Miami/Ft. Lauderdale with $26,650.
When it comes to credit health, the states with the lowest average credit scores (649-660) were Nevada, Louisiana, Mississippi, and Georgia. Miami/Ft. Lauderdale had the lowest average credit score out of the major metro areas, which seems ironic since they also have one of the lowest average debts. Boston has the highest average vantage score with 705 and Massachusetts, in general, ranked highly on this map.
For a full look at the data, check out the visualizations below: