Three in four millennials are more than $100,000 in debt: report

Tuesday, August 2, 2022 | Tag Cloud Tags: , ,

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(Worthy News) – A large majority of millennials have accumulated over $100,000 in outside of a mortgage, according to a recent study.

A study by Real Estate Witch found that 72% of millennials had some form of debt other than a mortgage and, on average, owed $117,000.

A majority of millennials in debt, 67%, had some form of credit card debt, averaging $5,349 while 48% had student loans, averaging $126,993. Moreover, millennials on average spend nearly half of their monthly income, 47%, on housing alone. [ Source: Just the News (Read More…) ]

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