For many Coloradans, the bills are starting to stack up. Whether it be rising monthly bills, the frankly insane cost of home prices, or the surging costs of renting property, it’s getting rather pricey to live in the state.

As a result, many in the state have accrued quite a bit of personal debt that is affecting their lives.

Recently, CreditDonkey released a study to find which states are struggling the most with their debt. They averaged together the average mortgage, student, automobile, and credit card debt in each state to find out which is having the hardest time.

Each category gets a score out of ten and is added to a total score out of forty.

With all of the different factors that have already been examined for Colorado, it may be unsurprising to find that the state as a whole is struggling mightily with debt.

Colorado Ranks 5th in CreditDonkey’s Study of States Who Struggle the Worst With Personal Debt


After crunching the numbers, CreditDonkey found that Colorado is the fifth-highest state for personal debt. It was given a total debt index of 33.06.

One particular area of concern for Coloradans has been the immense burden of real estate, particularly in terms of paying off mortgage loans. Colorado’s average mortgage debt sits at $319,981, and with places like Fort Collins having some of the highest down payments in the entire country, it doesn’t seem like something that will change anytime soon.

On the other hand, Coloradans are also drowning in student debt as well. On average, people in Colorado have a high student debt average of $36,939.

This falls in line with a different report from Forbes Advisor, which found that Coloradans have the highest household debt per capita at $89,170, higher than any other state.

Which States Rank Higher Than Colorado in Personal Debt?


Only four other states eclipse Colorado in terms of the highest levels of personal debt.

Alaska ranks above Colorado because they have high levels of credit card debt at $7,338 and high average car payment debt at $25,846.

Maryland comes in third because of their insane student debt average, which comes out to $43,116, the highest in the US.

Hawaii placed second because of their higher mortgage debt at $387,277 and their huge credit card debt at $6,343.

Finally, the state with the highest personal debt average was California, thanks to a mammoth average mortgage debt of $422,909 and vehicle debt of $23,262.

In terms of overall debt index scores, the top five is as follows:

  1. California - 35.38
  2. Hawaii - 34.67
  3. Maryland - 33.82
  4. Alaska - 33.30
  5. Colorado - 33.06

On the other end of the spectrum, here are the states with the lowest personal debt scores in the entire country:

  1. Wisconsin - 24.94
  2. Iowa - 25.19
  3. Indiana - 25.43
  4. Kentucky - 25.66
  5. Michigan - 25.68

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