For calendar year 2024, the most recent year for which comparative data is available, Michigan's outstanding debt per capita was $970. This was well below the national average of $1,756 and ranked Michigan 20th best among states. Below is additional information showing how Michigan's debt compared to other states as of calendar year 2024.
| Net Tax-Supported Debt as a Percentage of Personal Income |
Net Tax-Supported Debt Per Capita |
||
|
Lowest rate (NE): |
0.1% |
Lowest debt (NE): |
$43 |
|
Highest rate (HI): |
9.7% |
Highest debt (CT): |
$7,636 |
|
Average: |
2.4% |
Average: |
$1,756 |
|
Michigan: |
1.5% |
Michigan: |
$970 |
|
Rank: |
21st best |
Rank: |
20th best |