Home To U.S.’s Largest Debt Increase Is Iconic Massachusetts City

Some shocking news concerning certain Massachusetts residents according to the personal finance pros at WalletHub. Debt is a major global concern for many people nowadays obviously.

But this latest report from WalletHub was still something of a shocker to me. WalletHub just released its report on the Cities Where People Are Adding the Most Debt and believe it or not a Massachusetts city is #1 on the list!

To come up with the results for the study, WalletHub did its typically comprehensive research and ranked 100 of the largest American cities based on where auto loan, credit card, and personal loan debt increased the most from the first quarter of 2024 to the second quarter.

First, let's take a look at the Top 10 Cities With the Smallest Debt Increase, per WalletHub's report:

1. Winston-Salem, North Carolina
2. Detroit, Michigan
3. Anchorage, Alaska
4. Omaha, Nebraska
5. Minneapolis, Minnesota
6. San Bernardino, California
7. New Orleans, Louisiana
8. Hialeah, Florida
9. Buffalo, New York
10. Virginia Beach, Virginia

Now, let's get into the Top 10 Cities With the Largest Debt Increase:

1. Boston, Massachusetts
2. North Las Vegas, Nevada
3. Madison, Wisconsin
4. Lubbock, Texas
5. Gilbert, Arizona
6. St. Louis, Missouri
7. Greensboro, North Carolina
8. Aurora, Colorado
9. Albuquerque, New Mexico
10. Los Angeles, California

Sure, I would've guessed Boston as the city in Massachusetts with the largest debt increase, but in the entire country??? That is unreal (to me anyway) but the facts don't lie and the WalletHub team takes their research seriously.

Do yourself a favor and when you have some free time, check out the entire report by visiting WalletHub's website here. And thanks to WalletHub once again for doing all the hard work!