Spotlight: Are Wisconsinites Truly Frugal?

The latest Forward Analytics Spotlight dives into household debt trends across Wisconsin, showing that the state continues to live up to its frugal reputation.

In 2024, Wisconsin’s debt-to-income ratio was the 11th lowest in the country and 3rd lowest among bordering states, showing only a minor increase since before the pandemic. Wisconsinites also rank among the lowest in the U.S. for per capita credit card and auto loan debt, though delinquency on auto loans has risen in recent years.

Mortgage payments remain relatively affordable, averaging just under 20% of household income—one of the lowest ratios in the country. Even student loan burdens are comparatively lighter, with Wisconsin borrowers holding the 8th lowest average debt nationally.

Despite rising costs, Wisconsin households continue to exhibit financial discipline and resilience.

Read the latest Spotlight here.