Austin residents’ median credit card debt now exceeds $2,800, study finds

The median credit card debt for Austin residents now stands at $2,848, the 19th highest level of debt among 182 large U.S. cities, according to an analysis by the personal finance website WalletHub.

The payoff time for the median credit card debt in the Texas city would take an estimated 64 months and 14 days to pay off, according to the study. And the cost to pay off the debt is estimated at $1,406, WalletHub reported.

Nationwide, Americans began this year with more than $900 billion in total credit card debt, the study said. The website also projected that this debt would increase by $100 billion by year’s end, more than twice the average annual increase over the past decade.

WalletHub used TransUnion credit data to rank the sustainability of city residents’ debts. The study excluded debts on store cards and based its numbers on an average 17.13% interest rate. 

Median income for city residents was estimated using U.S. Census Bureau calculations of 2019 earnings of people aged 16 and older working in full-time positions.

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The 50 Cities With the Least Sustainable Credit Card Debts

Overall Rank	City	Median Credit Card Debt	Cost to Pay Off	Payoff Time (Income Adjusted)
1	Miami, FL	$2,247	$1,607	89 months and 19 days
2	Hialeah, FL	$1,911	$1,259	83 months and 12 days
3	Knoxville, TN	$2,298	$1,431	79 months and 10 days
4	Gulfport, MS	$2,018	$1,160	73 months and 28 days
5	Missoula, MT	$2,242	$1,277	73 months and 9 days
6	Dallas, TX	$2,458	$1,382	72 months and 14 days
7	San Antonio, TX	$2,298	$1,271	71 months and 11 days
8	El Paso, TX	$2,146	$1,172	70 months and 18 days
9	Tucson, AZ	$2,119	$1,131	69 months and 5 days
10	Reno, NV	$2,520	$1,340	68 months and 28 days
11	Cape Coral, FL	$2,363	$1,235	67 months and 27 days
12	Juneau, AK	$3,342	$1,746	67 months and 26 days
13	Chesapeake, VA	$2,919	$1,506	67 months and 1 day
14	New Orleans, LA	$2,513	$1,289	66 months and 21 days
15	Norfolk, VA	$2,332	$1,191	66 months and 14 days
16	Virginia Beach, VA	$2,806	$1,425	66 months and 3 days
17	Springfield, MO	$1,918	$964	65 months and 15 days
18	Nashville, TN	$2,480	$1,243	65 months and 9 days
19	Austin, TX	$2,848	$1,406	64 months and 14 days
20	Las Cruces, NM	$1,973	$964	63 months and 26 days
21	Tallahassee, FL	$2,185	$1,065	63 months and 22 days
22	Santa Ana, CA	$1,796	$872	63 months and 16 days
23	Lubbock, TX	$2,221	$1,078	63 months and 13 days
24	New York, NY	$2,942	$1,423	63 months and 8 days
25	Charleston, SC	$2,751	$1,314	62 months and 16 days
26	Anchorage, AK	$3,088	$1,473	62 months and 15 days
27	Birmingham, AL	$2,022	$958	62 months and 3 days
28	Corpus Christi, TX	$2,224	$1,047	61 months and 22 days
29	Pembroke Pines, FL	$2,596	$1,217	61 months and 15 days
30	Colorado Springs, CO	$2,500	$1,163	61 months and 1 day
31	Spokane, WA	$2,249	$1,045	61 months
32	St. Petersburg, FL	$2,370	$1,097	60 months and 25 days
33	Jacksonville, FL	$2,243	$1,037	60 months and 23 days
34	Port St. Lucie, FL	$2,112	$972	60 months and 14 days
35	Fayetteville, NC	$1,945	$894	60 months and 12 days
36	Tulsa, OK	$2,145	$981	60 months and 4 days
37	Brownsville, TX	$1,606	$732	59 months and 29 days
38	Fort Lauderdale, FL	$2,511	$1,144	59 months and 28 days
39	Amarillo, TX	$2,139	$973	59 months and 26 days
40	Little Rock, AR	$2,262	$1,028	59 months and 25 days
41	Rapid City, SD	$2,105	$933	58 months and 13 days
42	Augusta, GA	$1,847	$807	57 months and 21 days
43	Houston, TX	$2,160	$939	57 months and 12 days
44	Laredo, TX	$1,742	$744	56 months and 15 days
45	Oceanside, CA	$2,414	$1,031	56 months and 14 days
46	Aurora, CO	$2,216	$946	56 months and 14 days
47	Shreveport, LA	$1,933	$822	56 months and 6 days
48	Ontario, CA	$1,965	$829	55 months and 26 days
49	Huntington, WV	$1,846	$778	55 months and 25 days
50	Sioux Falls, SD	$2,159	$910	55 months and 24 days

Source: WalletHub.com