West Virginians have the least amount of debt in the US, study says

WEST VIRGINIA (WBOY) — As a West Virginian, how much of your monthly income is going toward paying off debt? If a new study is to be believed, it shouldn’t be much.

In a new study compiled by loan comparison service Compare the Market, West Virginia residents were found to have, on average, $36,270 of personal debt. This average is the lowest of any state in the nation, $4,000 less than second-place Mississippi and 62% lower than the national average, the study said.

While the ranking focused specifically on personal debt, it’s worth noting that West Virginia also has the lowest average mortgage debt in the country at $19,750, as well as the third-lowest average credit card debt at $3,040, according to World Population Review.

To add to West Virginia’s ranking, the study also found the United States to be the second-least financially stressed country in the world, boasting the second-highest average salary globally at $80,115 and among the lowest unemployment rates at 4%. Despite this, the study found that the U.S. also has the highest monthly rent in the world, averaging $5,500 a month.

The study analyzed data compiled by World Population Review from the U.S. Federal Reserve, as well as other sources like Credit Karma, the Federal Reserve Bank of New York and Business Insider.