---
title: "Household Debt Sees Slight Uptick"
url: https://burnaze.com/article/869231d0-3d14-4615-b3fe-7519d4b62f58
source: "Franchising.com"
original_url: https://www.franchising.com/articles/household_debt_sees_slight_uptick.html
author: "Scott Morris"
category: "General"
published: 2024-08-12T09:00:00.000Z
modified: 2026-10-31T20:30:13.977Z
image: https://imgs.franchising.com/art/articles/8795_plate.jpg
---

# Household Debt Sees Slight Uptick

**TL;DR:** The Federal Reserve Bank of New York released new data on household debt, showing a record amount of $17.80 trillion in absolute terms as of Q2 2024, with a 0.03% increase in inflation-adjusted total debt. The average household owed $148,266 at the end of Q2 2024, which is $13,868 below the all-time high.

*By Scott Morris, originally published in Franchising.com on 2024-08-12. [Read the original](https://www.franchising.com/articles/household_debt_sees_slight_uptick.html).*

## Story

The Federal Reserve Bank of New York released new data on household debt, and WalletHub's inflation-adjusted analysis revealed that while U.S. households owe a record amount in absolute terms ($17.

80 trillion) as of Q2 2024, inflation-adjusted total debt barely changed during Q2, increasing by just 0.03% compared to the previous quarter. WalletHub's Household Debt Report adjusts data for inflation to provide an accurate comparison against historical levels.

You can find key highlights below: **Q2 results.** Total household debt increased by $5 billion during Q2 2024 in contrast to a decrease of $174 billion in Q2 2023. **Household average.

** The average household owed a total of $148,266 at the end of Q2 2024, which is $13,868 below the all-time high. **Total debt-to-deposits ratio.** Despite increasing recently, the ratio of total household debt to deposits indicates consumers are in good shape as it's still below pre-Covid levels and roughly 46% lower than its early 2000s peak.

**Total debt-to-assets ratio.** The ratio between total household debt and assets continues to be at a very healthy level of around 9.8%.

"U.S. households failed an important test during the second quarter of 2024, adding $5 billion in inflation-adjusted debt to break a streak of four consecutive years with declining household debt from Q1 to Q2," said John Kiernan, WalletHub editor.

"Increasing debt, stubborn inflation, and record high interest rates give consumers a lot of headwinds as we try to navigate the third and fourth quarters of the year when we traditionally rack up the most debt."

## Entities

- Franchising.com (publication)
- General (sector)
- WalletHub (company)
- inflation rate (topic)
- John Kiernan (person)
- household debt (topic)
- Federal Reserve Bank of New York (regulator)
- Scott Morris (person)
- debt-to-deposits ratio (topic)
- debt-to-assets ratio (topic)

---
Originally reported by Scott Morris, Franchising.com (https://www.franchising.com/articles/household_debt_sees_slight_uptick.html). Summarized by Burnaze (https://burnaze.com/article/869231d0-3d14-4615-b3fe-7519d4b62f58).