New York State

Household Debt in New York State

New Yorkers and consumers across the nation are experiencing growing household debt. The average household debt in New York climbed to a new high of $53,830 at the end of 2021. While New Yorkers trail the national average debt burden ($55,810), student loan and credit card debt per capita were well above the national average, with student loan balances 335% higher than they were in 2003.

State Contract and Payment Actions in July

In July, the Office of the State Comptroller approved 1,232 contracts for state agencies and public authorities valued at $2.2 billion and approved more than 1.8 million payments worth more than $9.4 billion.