Behind on bills? Residents of these states have seen debt balloon

(NEXSTAR) – People who live in some of the country’s most affordable states have seen their debt double over the past 10 years, a new data analysis shows.

Residents of Idaho and Utah have an average debt that is 100% higher than it was a decade ago, according to a study MoneyLion shared with Nexstar.

The analysis takes into account both “good debt” – like a mortgage – and “bad debt” – like credit card balances. School and car loans were also factored in.

Idaho residents, on average, saw major increases in auto, mortgage and credit card debt between 2015 and 2025. The increase in student loans wasn’t as dramatic, only about 26%.

Credit card debt, which carries some of the highest interest rates, went up the most in Nevada. The state saw its collective credit card debt jump from $6 billion in 2015 to more than $14 billion in 2025.

A home loan, meanwhile, isn’t considered quite as toxic as some other types of debt because the asset it’s used to purchase is expected to appreciate over time. Mortgage debt went up the most in Idaho, Utah and Texas. All three states have been seen as desirable places to move since the pandemic with growing populations .

The states with the biggest debt growth in the past 10 years are:

There’s bad news for borrowers: The Federal Reserve just raised the cost of borrowing money.

The Fed increased its benchmark interest rate last week by a quarter-point, the first rate hike since the summer of 2023. The increase boosts the Fed’s target rate to a range of 3.75% to 4.00%.

Anyone borrowing money to make a sizable purchase, such as a home , car or large appliance, will likely take a hit eventually. The new rate will also increase monthly payments and costs for any consumer who is already paying interest on credit card debt.

For now, U.S. household debt payments are relatively low overall as a percentage of after-tax income. So even if borrowing rates rise, many households might not feel a heavier debt burden immediately.

On the bright side, if you’ve been socking money away, you’ll probably earn a bit more interest on your savings.

The Associated Press contributed to this report.