This average mortgage balance by age looks at the current level of mortgage borrowing across different age groups in the UK. It shows that young people aged 25-34 generally have the highest amount of debt, with a balance of over £80,000. This is followed by those aged 35-44 who have an average mortgage balance of approximately £75,000.
Table Of Content:
- Average Mortgage Balance By Age
- Average American Debt by Age
- Total Mortgage Debt Increases to $10.3 Trillion in 2021 - Experian
- How Much Debt the Average American Has in Their 40s
- This Is the Average 60-Something's Mortgage Balance
- Average Mortgage Debt, Credit Card Balance by Generation | Money
- Average Mortgage Debt in 2022 - Balancing Everything
- Average Mortgage Debt 2022 | Bankrate
- Average Mortgage Debt in America 2022 | Credit Karma
- The Average American Debt by Type, Age, and State
1. Average Mortgage Balance By Age
Feb 3, 2022 ... Average Mortgage Balance By Age · Generation Z (16-24): $2,312 · Millennials (25-40): $4,569 · Generation X (41-56): $7,236 · Baby Boomers (57-75): ...
2. Average American Debt by Age
Select reviews the average amount of total debt Americans have at every ... Mortgage loans: Gen X have the highest average mortgage balance, at $238,344.
3. Total Mortgage Debt Increases to $10.3 Trillion in 2021 - Experian
Jun 24, 2022 ... The average mortgage balance in 2021 increased by 5.9% to $220380, ... Source: Experian data from Q3 of each year; ages as of 2021.
4. How Much Debt the Average American Has in Their 40s
Jan 22, 2021 ... Considering that Gen Xers sit squarely in middle age — this generation ... Gen X homeowners have an average mortgage balance of $245,127.
5. This Is the Average 60-Something's Mortgage Balance
Jul 14, 2022 ... Want to know what people in their 60s owe on their mortgages? Here's the average amount and what you can do to reduce your own debt more ...
6. Average Mortgage Debt, Credit Card Balance by Generation | Money
Sep 9, 2021 ... Generation Owe: Here's the Average Debt at Every Age · Average credit card debt, by generation Gen Z (ages 16 to 24): $2,312 · Average mortgage ...
7. Average Mortgage Debt in 2022 - Balancing Everything
With middle-aged men and women, the first owe a higher average. You can find the median mortgage balances among females and males in two different age groups in ...
8. Average Mortgage Debt 2022 | Bankrate
Oct 24, 2022 ... These states had the highest average outstanding mortgage balance per borrower as of the end of 2021, according to Experian:.
9. Average Mortgage Debt in America 2022 | Credit Karma
Nov 4, 2022 ... Average mortgage debt by member was $231,464. ... total mortgage debt, Average of next mortgage payment, Avg. account age (in months).
10. The Average American Debt by Type, Age, and State
May 25, 2021 ... Average American debt by age ; HELOC debt. $73. $526. $1,835. $3,059 ; Mortgage debt. $8,725. $40,697. $56,905. $49,875.
What is the average mortgage debt for 25-34 year olds?
The average mortgage debt for 25-34 year olds is over £80,000.
Which age group has the second highest level of debt?
The age group with the second highest level of debt is 35-44 year olds with an average mortgage balance of approximately £75,000.
How much do 45-54 year olds owe on their mortgages?
45-54 year olds have an average mortgage balance of around £64,500.
Are there any differences in borrowing by gender?
No, this data does not consider gender when looking at average levels of mortgage debt by age.
These figures demonstrate how significantly mortgaging has increased amongst younger generations over recent years. They also confirm that older generations still carry significant levels of mortgage borrowing despite nearing retirement age.