For young Americans, the median debt balance for millennials living in the country’s 50 largest cities currently stands at $23,064. Millennials in San Antonio, Texas, shoulder the nation’s highest debt burden with a median non-mortgage debt of $27,122. Pittsburgh comes second with a median of $26,403 while another city in Texas, Austin, rounds off the top-three with $26,164. The lowest median debt burden was recorded in three cities in California – San Jose, Sacramento, and Los Angeles. All three of them have debt levels below $20,000.

Source: Forbes

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ABOUT MIKE MERCURIO

Mike Mercurio | mmercurio@offitkurman.com | 301-575-0332 | Biz Tek Today

Mr. Mercurio is a Principal and the Chair of the Firm’s Business Law and Transactions Practice Group. He serves as outside general counsel to clients on matters related to corporate and business law, commercial transactions, government contracting, health care, construction services, and real estate. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on all aspects of business and commerce including formation and structure; ownership, management and control; financing and capital; expansion and acquisition; sale and transfer; and contraction and dissolution.

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