PORT ST. LUCIE, Fla. — A city on the Treasure Coast is getting the check mark as one of the top cities paying off the most household debt.
According to the new analysis just released by WalletHub, Port St Lucie ranked 45th best out of 182 cities.
The study shows the average household debt in Port St Lucie is $193,108. The average amount households are credited with paying off in this area from last October to this past March is $829. This amount is $4 less than the only Florida city to rank higher than the Treasure Coast city — Cape Coral in Lee County.
"A large decrease in the average resident's debt in a city is a great sign — it shows that people are not only keeping up with their payments but also cutting back on borrowing," WalletHub analyst Chip Lupo said.
WalletHub says the total household debt in the U.S currently stands at $18.2 trillion. Mortgages make up the bulk of this debt, along with student loans, auto loans, credit cards and personal finance loans.
Experts say the average amount of household debt across the country is $151,252, nearly $13,000 less than the all-time high.
Click here to see the full study and where other cities in Florida rank for paying off the most household debt.
