Study reveals Austin residents as the most debt-ridden

One of the country's top nightlife cities is also the most debt-ridden, according to a recent study exploring non-mortgage debt across the 50 largest metros in the United States.

A recent study by Lending Tree , an online marketplace that helps individuals examine loan terms, revealed that residents across the country's most populous metros hold an average of $37,827 in non-mortgage debt; the amount includes car loans, student loans, credit cards, and personal loans.

Austin was determined to be the most debt-ridden metro, with a per-resident average of about $46,000. The city's neighbor—and frenemy—San Antonio, scored at a close second with residents owing $44,812 in non-mortgage debt, while Houston scored as the third most debt-ridden metro ($44,640).

Auto loans represent the largest source of debt for those heavily indebted in Austin, with residents owing more than $17,000 to pay off their vehicles, according to the report. Perhaps this is because residents have to be in them so often, one can drive over 2,000 miles and still be within the state's borders.

In 2023, the most popular used cars in Austin were the Ford F-150, Chevrolet Silverado 1500, and the Toyota Camry, according to a study by iSeeCars .

Lending Tree's chief credit analyst, Matt Schulz, who is from Austin, said in the report that the city's growth has made it a more expensive place to live.

"As prices have escalated, more residents have been forced to lean on their credit cards — and the auto loan and student loan figures make sense, too," he stated in the report.

Among the 50 most populated metros, San Antonio residents had the highest average auto loan debt at about $18,000. More than half the city's consumers carry auto loan debt, with 33.4% owning personal loan debt.

According to the City of San Antonio , the median household income among residents is $59,593, significantly lower than the national average of $75,149.

In the report, Schulz noted that San Antonio has a low income rate for a metro of its size, creating "a unique set of challenges for residents of the Alamo City, often including the need to carry debt to help them make ends meet."

Across the 50 largest metros in the country, auto loans outpace student loans for the highest non-mortgage debt type among consumers.

Schulz noted in the report that one of the biggest takeaways from the data is that "we are a nation of people who love, love, love their cars, trucks and SUVs."

He continued, "Plus, cliche though it may be, Texans love their trucks ... and those don't come cheap."