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Here's the Average Debt of 75-Year-Old Americans (How Do You Compare?)

A look at what boomers owe, and how that stacks up against younger and older generations.

By Chris Lewis, CEPF , Edited by Laura Hohenstein

Updated Nov. 11, 2026

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Debt doesn't stop the moment you hit a certain age. Plenty of people carry mortgages, car payments, or credit card balances and are looking for a way to get out of debt well into their 60s and 70s.

So what does debt actually look like for the generation now moving through its 60s and 70s? Let's break it down.

Editor's note: Figures come from Experian's report on average American debt, using June 2025 credit data. Experian defines baby boomers as ages 61 to 79.

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So what does the average baby boomer actually owe?

Average total debt, baby boomers (ages 61 to 79): $92,619

Boomer consumers in Experian's credit database carried an average total debt load of $92,619 in June 2025 data. That's down from an average of $94,561 in June 2024 data.

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What makes up a boomer's debt load

Experian's data breaks boomer debt down by type, and mortgages carry the largest average balance. Among the 57.0% of boomers who have a mortgage, the average balance is $196,227.

Credit cards tell a different story. Among the 82.9% of boomers who carry a credit card balance, the average is $6,795, much smaller than the mortgage figure but far more common. Auto loans show up for 64.3% of boomers, and those who have one owe $22,583 on average. Home equity lines of credit are held by 19.5% of boomers, averaging $40,837 among those who have one, and Experian says boomers are the generation most likely to have a HELOC. Personal loans average $21,972 among the 36.2% of boomers who have one, and student loans average $39,870 among the 4.3% who have one.

How common is each type of debt among boomers

Not every boomer carries every kind of debt, and the share who do varies a lot by type. Credit card balances are the most widespread, held by 82.9% of boomers. Auto loans come next at 64.3%, followed by mortgages at 57.0%.

Further down the list, personal loans show up for 36.2% of boomers, HELOCs for 19.5%, and student loans for just 4.3%. So while the mortgage balance is the largest average dollar amount, it's credit card debt that touches the most people in this generation.

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How boomer debt compares to other generations

Generation X, ages 45 to 60, has the highest average total debt of the generations in Experian's report, at $158,105. Millennials, ages 29 to 44, average $132,280. Both owe more on average than boomers' $92,619, and all U.S. consumers in Experian's data average $104,755 in total debt.

On the older end, the Silent Generation, ages 80 and up, averages $38,460 in total debt, below the boomer figure. Generation Z, ages 18 to 28, averages $34,328.

What to do if your balances feel heavy

List out every balance you carry, from credit cards to personal loans, so you know exactly where you stand.
Put extra payments toward your highest-rate balance first, then roll that payment into the next one.
Call your mortgage lender and ask what refinancing would cost and save you.
Review your HELOC terms and ask your lender how your payment could change.
Meet with a nonprofit credit counselor if the payments are starting to feel unmanageable.

Bottom line

Baby boomers carry an average of $92,619 in total debt in Experian's June 2025 data, down from an average of $94,561 in June 2024 data. That's below the $104,755 average for all U.S. consumers, and below the averages for Generation X and millennials.

Mortgages carry the largest average balance for boomers who have one and need to crush debt, while credit card debt is the most widespread type.

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