AUSTIN, Texas—With U.S. credit card debt now topping $1 trillion, a new analysis reveals which cities are home to the consumers racking up the biggest balances?
A new report by CreditCards.com said the cities where people are carrying with the highest average credit card debt include Washington, D.C. ($7,442), Dallas-Fort Worth ($7,171) and New York ($7,145), in terms of highest average debt in absolute terms.
Rounding out the top 10 are Houston ($7,121), San Antonio ($7,070), Baltimore ($6,985), Atlanta ($6,907), San Diego ($6,848), Seattle-Tacoma ($6,729) and Denver ($6,720).
While Washington topped the list, the study shows that the metro area ranks among the lowest in terms of credit card burden, due to the fact the city has the highest median income on the list.
The survey calculated which cities feel the heaviest debt burden based upon average debt relative to median income. The San Antonio metro area ranked highest in debt burden, followed by Miami-Fort Lauderdale-West Palm Beach and then Houston.