You probably know Experian as one of the agencies holding the sword of Damocles over your credit report. Considering that debt is a sizeable factor in your credit score, it should come as no surprise that the agency occasionally produces reports and data related to the national debt.
In a report released last week, the agency announced that the average mortgage debt nationally is $196,014, up 2.5 percent in a year and more than 6 percent since 2008.
In Pennsylvania, that average mortgage debt is $157,643. That figure puts our commonwealth in the top 10 for states with the smallest debt increase since last year. Residents in Washington, D.C. had the highest average mortgage debt, at $385,000. West Virginia – at $113,000 – had the least mortgage debt nationally.
You can download all the data from the agency’s 2016 State of Credit Report and take your own deep dive online.
Know of an interesting property in the Philadelphia or South Jersey region? E-mail us!