DENVER (KDVR) — Colorado hit the top of the charts, but not in a good way. A recent study ranked each state in the U.S. based on how much debt they owe — and Colorado owes a lot.
Forbes Advisor looked into household and government debt compared across every U.S. state. Here are the top states with the highest amount of debt.
Colorado ranks third in the country for the highest debt burdens, just under Hawaii and California.
While Colorado ranks relatively low on government debt, only owing $11,940 per capita, the state ranks the highest in household debt per capita.
Colorado residents have the highest average household debt per capita in the country at $89,730, which is higher than Colorado's median salary for the entire year.
Colorado's gross domestic product (GDP) is also higher than most states.
The GDP shows how much Colorado owes compared to how much it produces. The higher the percentage, the harder it is for the state to pay off its debt.
While Colorado fits in with most states when it comes to government debt, overall, it ranks as the third state with the highest debt burden in the county.