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Detroit may be bankrupt, but its residents actually have the lowest levels of debt in the country.

The average debt load for a person living in Detroit is $23,604. That’s the lowest of any major city and is down 7.1% from four years ago, according to Experian, which looked at credit card, auto, personal and student loan debt in the 20 largest U.S. metropolitan areas.

Other cities where residents carried the lowest overall amounts of debt included Los Angeles, Miami, New York and Boston.

Dallas residents carried the biggest debt load, with an average of $28,240. That’s up 7.8% from four years ago.

Houston, Washington, D.C., Seattle and Baltimore rounded out the five cities with the highest debt burdens.

Detroit was the only city out of the 20 that saw its average debt load decrease over the past four years. Nationwide, debt has climbed 5% to an average $25,927 since 2010.

SOURCE

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