US household debt reaches $18.2T in Q1

By Dilara Zengin Okay

WASHINGTON (AA) — Household debt in the US increased by 0.9% to $18.2 trillion in the first quarter of 2025, the Fed's New York Branch announced on Tuesday.

Household debt increased by $167 billion in the first quarter of this year compared to the previous quarter, totaling $516 billion on an annual basis.

While housing loans (mortgages) continued to account for the largest share of American household debt, reaching $12.8 trillion in the first quarter.

Mortgage debt increased by $199 billion in the first quarter of the year compared to the previous quarter, totaling $362 billion on a yearly basis.

Other items that Americans borrowed the most during this period were automobile loans ($1.64 trillion), student loans ($1.63 trillion), and credit cards ($1.18 trillion).