Milwaukee, Wisconsin is home to almost 570,000 people and is 31st in size in the United States, according the 2020-2021 U.S. Census estimates. Credit Karma data for August 17, 2022 shows that the average debt of the 164 247 Credit Karma members living in Milwaukee is $32,799. This includes auto loans, student loans and mortgages. (Click here to see the complete methodology.
Continue reading to see a snapshot on Milwaukee’s debt.
Snapshot of Credit Karma Stat
Total debt in Milwaukee
Milwaukee’s 164,247 Credit Karma members had a total debt of $9.04 billion. While the average individual debt was $32,799 and the median overall debt was $9,553, this was still a very low number. This means that Milwaukeeans have more overall debt than the majority of the population. This debt has an average payment of $339.
Credit Karma members have an average national debt of $49,454 and a median of $11,223.
Milwaukee‘s Debt Dial
Image: milwaukeedebtgauge
Student loans, auto loans, mortgages, and credit card debt in Milwaukee
Below is a table that shows the averages and medians of different types of debt among Credit Karma members from Milwaukee.
|
Debt type |
Credit Karma members who have debt type |
Average debt |
Median debt |
Average next payment |
|---|---|---|---|---|
| Auto loan | 107,067 | $19,548 | $16,264 | $492 |
| Student loan | 75,125 | $32,256 | $17,683 | $35 |
| Hypothec Mortgage | 81,525 | $168,279 | $137,820 | $1,263 |
| Credit card | 146,735 | $4,853 | $2,104 | $148 |
How does Milwaukee’s population compare with the national average? Below is a table that compares the national average to the averages for Credit Karma members in Milwaukee.
|
Debt type |
Average national credit of Credit Karma members |
Milwaukee member average debt |
|---|---|---|
| Auto loan | $24,042 | $19,548 |
| Student loan | $32,004 | $32,256 |
| Hypothec Mortgage | $235,194 | $168,279 |
| Credit card | $6,469 | $4,853 |
Credit Karma members in Milwaukee had lower overall debt than the national average for all categories, with the exception of student loan debt.
How does Milwaukee compare to other cities?
We compared the average Credit Karma member living in 100 top cities by population, according to U.S. Census population estimates for 2021.
Milwaukee is the most expensive city in the Top 100 according to Credit Karma members.
Here are the Milwaukee residents compared to other top 100 American cities.
- Auto loan debt 95th
- Credit card debt: 98th highest
- Student loan debt: 47th highest
- Mortgage debt: 91st highest
Credit inquiries, past-due accounts and credit inquiries in Milwaukee
The average VantageScore 3.0 credit score among Credit Karma members was 642, while the median was 643. Both are fair. Credit Karma members had a national average VantageScore 3.0 score of 673 and a median score of 682.
Milwaukee residents had an average of 5.8 inquiries on their credit reports. The national average was 4.2.
Milwaukee residents have an average of 0.64 accounts that are 30 days late. Nationally, the average account is 0.74.
Methodology
We analyzed the accounts and transactions of approximately 164,000 Credit Karma members who were active within the past 36 months to determine the averages for each category of debt. The averages were calculated using information from TransUnion credit reports for members from the 90-day period prior to data pull on Aug. 17, 2022. This analysis includes auto lease, credit card, student loan, mortgage, credit card, and auto loan. Unpaid balances on open accounts at the time of data pull are all included. All numbers were round to the nearest whole in this report.
All data in this article were pulled Aug. 17, 2022.