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(Iowa) -- A new national study ranks Iowa the number one state in the country where residents have reduced their debt.
Financial services website Lending Tree looked at roughly 300,000 credit reports across all 50 states. Results showed that Iowans reduced non-mortgage debt by 17.8% in the third quarter of 2024. The average household in Iowa holds $33,963 in non-mortgage debt, down from $41,336 in the third quarter of last year. Iowa also saw an 11.7% reduction in credit card debt.
The full study is available on Lending Tree's website.