Illinois' unfunded pension liability was almost $446 billion in 2016. This comprehensive analysis of the 50 states’ finances includes the most up-to-date state finance and pension data, trends across the states, and key findings. credit card debt with $4,440 per capita. And Alaskans have the highest avg. The 20 States with the Most Mortgage Debt Debt as a share of personal income: 20.5%. Unemployment Rate; Median Income; S&P Bond Rating; Total Debt; Uninsured; Educational Attainment; State Rankings. The states with the highest debt burdens, such as California and Hawaii, are some of the most expensive states to live in, and Washington DC is one of the most expensive cities to live in. All states on this list have a debt-to-income ratio greater than 2. This data can tell us how much money each state has … Stats by State. While debt incurred by the federal government tends to draw headlines, government spending at the state level paints a less stark picture, especially when compared to each state… Vermont has the lowest amount of total debt … States with the highest amount of state and local debt per capita in the 2012 fiscal year (the most recent data available from the Census Bureau) were New York ($17,405 per person), Massachusetts ($14,517 per person), Alaska ($13,066 per person), Connecticut ($11, 928 per person), and New Jersey ($11,623 per person). Here are the states with the most mortgage debt. Speaking of which, Washington, D.C. plays home to the highest mortgage debt, coming in at $64,700 per capita. In order to find the states with the most debt, Stacker analyzed data from the New York Federal Reserve's 2019 4th Quarter Report on Household Debt and Credit. Truth in Accounting has released its tenth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information. However the surrouding counties are at 31% or less. New York follows with $305 billion of debt, and then Texas, with total debt of $283 billion. Economic Opportunity; Educational Achievement; Health and Wellness; Total State Debt: ranked from lowest debtor state (#1) to highest debtor state (#50) Cost of Borrowing; Best Fundamentals; News Room; About Us; Contact Using the higher pension gap number, State Budget Solutions said California is in the biggest financial hole -- with total debt of more than $612 billion. Re: What State has the most debt? Massachusetts's debt wouldn't be that bad for a larger state. The researchers used the debt-to-income ratio to rank states, with higher debt-to-income ratios corresponding to more debt. Texans are splashing out the most cash when it comes to their vehicles, with the average Texan having $6,880 dollars worth of debt for their rides. Many states are months behind with their financial accounting, so the most recent data available covers fiscal year 2017. The state has long-term liabilities more than three times as large as its total assets. Government spending has been in the news a lot since the national debt reached a record $22 trillion earlier this year. When looking at the map in the article, my county is in black indicating that over 70% of the population has at least one collections account. States are ranked by individual debt-to-income ratio, calculated by dividing per capita debt by median individual income.