Prairie State Wire

The median household debt-to-income ratio in Illinois during the second quarter of 2020 stood at 1.33 to 1.41, the Federal Reserve System reported recently.

That was below the national average of 1.51. 

In comparison, the debt-to-income ratio for Illinois was between 1.24 and 1.33 during the second quarter of 2019.

Household debt numbers come from both Equifax and the Federal Reserve Bank of New York’s Consumer Credit Panel. The U.S. Bureau of Labor Statistics supplies the estimates of household income.

A household's debt-to-income ratio is defined as monthly debt payments divided by gross monthly income.

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Q2 2020 Debt-to-Income Ratios by State

State	Debt-to-Income Ratio Low (Q2 2020)	Debt-to-Income Ratio High (Q2 2020)	Debt-to-Income Ratio Low (Q2 2019)	Debt-to-Income Ratio High (Q2 2019)
Alabama	1.51	1.62	1.41	1.51
Alaska	1.62	1.75	1.62	1.75
Arizona	1.75	1.89	1.75	1.89
Arkansas	1.33	1.41	1.24	1.33
California	1.75	1.89	1.75	1.89
Colorado	1.89	2.13	1.75	1.89
Connecticut	1.51	1.62	1.41	1.51
Delaware	1.75	1.89	1.51	1.62
District of Columbia	0.39	1.09	0.39	1.09
Florida	1.89	2.13	1.75	1.89
Georgia	1.62	1.75	1.51	1.62
Hawaii	2.13	--	2.13	--
Idaho	1.89	2.13	1.89	2.13
Illinois	1.33	1.41	1.24	1.33
Indiana	1.41	1.51	1.24	1.33
Iowa	1.24	1.33	1.09	1.24
Kansas	1.09	1.24	1.09	1.24
Kentucky	1.24	1.33	1.09	1.24
Louisiana	1.51	1.62	1.41	1.51
Maine	1.75	1.89	1.62	1.75
Maryland	1.89	2.13	1.89	2.13
Massachusetts	1.33	1.41	1.24	1.33
Michigan	1.41	1.51	1.24	1.33
Minnesota	1.41	1.51	1.33	1.41
Mississippi	1.51	1.62	1.41	1.51
Missouri	1.33	1.41	1.24	1.33
Montana	1.89	2.13	1.75	1.89
Nebraska	1.24	1.33	1.09	1.24
Nevada	2.13	--	1.75	1.89
New Hampshire	1.75	1.89	1.62	1.75
New Jersey	1.62	1.75	1.51	1.62
New Mexico	1.62	1.75	1.51	1.62
New York	1.09	1.24	0.39	1.09
North Carolina	1.62	1.75	1.51	1.62
North Dakota	1.09	1.24	0.39	1.09
Ohio	1.24	1.33	1.09	1.24
Oklahoma	1.24	1.33	1.24	1.33
Oregon	1.75	1.89	1.62	1.75
Pennsylvania	1.33	1.41	1.24	1.33
Rhode Island	1.75	1.89	1.51	1.62
South Carolina	1.89	2.13	1.75	1.89
South Dakota	1.33	1.41	1.24	1.33
Tennessee	1.51	1.62	1.33	1.41
Texas	1.33	1.41	1.09	1.24
Utah	1.75	1.89	1.75	1.89
Vermont	1.51	1.62	1.41	1.51
Virginia	1.89	2.13	1.89	2.13
Washington	1.62	1.75	1.62	1.75
West Virginia	1.41	1.51	1.24	1.33
Wisconsin	1.24	1.33	1.24	1.33
Wyoming	1.62	1.75	1.51	1.62

Source: Federal Reserve System