Sunday, June 09, 2013

Debt in New York, New Jersey, and Connecticut

For a peak at the finances of people in New York, New Jersey, and Connecticut, check out the interactive graphic on non-housing consumer debt available from the Federal Reserve Bank of New York. Based on data from a nationally representative sample of individuals with a Social Security number and an Equifax credit report, the graphic shows how many are in debt and the median balance of their loans by age group and type of loan (credit card, auto, student, and other) as of March 2013...

  • Among 18-to-34-year-olds in New York state, 16 percent have a car loan (median balance $11,100) and 28 percent have a student loan (median balance $17,050). 
  • In Connecticut, 46 percent of 35-to-49-year-olds have two or more credit cards, 32 percent have an auto loan, and 15 percent have a student loan.
  • In New Jersey and Connecticut, the 13 percent of 50-to-64-year-olds with student loans have a larger median balance than any other age group ($18,950 in Connecticut and $19,950 in New Jersey).

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