Americans in 100 of the largest metropolitan areas now have a median non-mortgage debt of $18,762 across four generations—baby boomers, Gen X, millennials, and Gen Z—which is down by 23.9 percent compared with $24,668 in 2024, financial services company LendingTree said in a June 24 report.
Non-mortgage debt includes personal loans, auto loans, credit card debt, student loans, and other debt.
Gen Xers, aged 45 to 60 years, have the highest median debt, at $26,207.
This was followed by millennials (aged 29 to 44 years), with a debt of $24,810; Gen Zers (aged 18 to 28), with $12,715; and finally baby boomers (aged 61 to 79), with $10,272.
The median debt fell in all four generations, with baby boomers seeing the largest decline at 45.3 percent. For the remaining three generations, debt fell by about 18 percent to 23 percent.
Matt Schulz, chief consumer finance analyst at LendingTree, called the decline in debt across generations a significant decrease.
Hellbound and Down 