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A report from the Federal Reserve Bank of New York pegs total debt for all Americans at $11.44 trillion in the first quarter of 2012.

2011 US population estimated at 311,591,917.

The average American has a total debt of $36,714.69.

Approximately 68% of people in America own homes (or have titles to homes that they pay mortgages on). Some have huge mortgage balances while others are nearly paying their homes off. The total mortgage debt per homeowner would be $38,874.38.
Average mortgage size in my city this year is $302,220.
Average home price in my zip code is $317,000.

So I can choose to feel bad about owing $124,161.26, way above the average American mortgage debt per homeowner, or I can feel great about my mortgage size being well below average in my city. Let's see what the average home price is in the US: $204,187 according to Standard & Poor w/Census Bureau for January 2012. So average equity would be: $165,312.62.

Average house price in my city is $377,000.
Average equity for people purchasing this year would be $74780, so lots of people putting down 20%.

The average American has HELOC debt of $1,835.73 ($3,671.47 per family). Ours is about seven times that. I keep telling myself that when I reach $16500 in liquid cash (money market account, CDs, savings accounts) I will pay down the HELOC in earnest. I was better about paying the HELOC before we adjusted my spouse's withholding. I have no regrets about adjusting the withholding: writing four-digit cheques to the Treasury Department was turning my hair white prematurely. We are at $15305 liquid cash (not including savings bonds, the mortgage and utility payment due the first of October).

The average American has car loan debt of $2,202.88 ($4,405.76 per family). No debt here.

The average American has credit card debt of $2,202.88 ($4,405.76 per family). I checked the Federal Reserve Bank of New York