Texas charges up top-10 rank in states dealing with the most debt, per report

loan star state

Everything's bigger here in Texas — including the spending. Photo via Getty Images

It's not too late to rein in that holiday spending, Texas. A new financial report has revealed Texas is the No. 9 state with the highest debt levels in the country.

The report by personal finance website CreditDonkey examined each state's average mortgage debt, student debt, automobile debt, and credit card debt. Rankings were determined based on which state had the highest amount of debt.

Texas was ranked so highly due to its rampant amount of auto loan debt, the most out of all 50 states. Over 100 million Texans have loans on their cars, which has racked up more than $1.5 trillion in auto loan debt. The average Texan's auto loan debt stands at $27,739.

Texans' higher-than-average credit card debt was also a major factor, according to the report. The average credit card debt amount adds up to $6,542.

Speaking of debt, it's worth noting that this report comes after a recent survey that found The Woodlands ranks No. 10 in the U.S. for holiday spending budgets. (No word as to how much of that holiday spending ends up as revolving credit balances.)

The average mortgage debt in the Lone Star State is $217,461, while the average student debt amounts to $33,354. In Houston, first time buyers need to earn 13.9 percent more than 2022 to afford that first home, per a recent report.

While Texas' level of debt is no laughing matter, residents can find some relief they're not living in California. Californians have the most debt in America, with the average mortgage debt at nearly $423,000 per household, and an average student loan debt of $37,384.

CreditDonkey Director of Research Anna Ge explained the "multifaceted story" of why debt in Texas (and overall in the United States) has skyrocketed over the years.

"The causes for the surge in debt are rooted in a confluence of factors – from the pursuit of higher education to home-ownership aspirations and the challenges of rising costs across the board," she said. "The ease of access to credit, while providing immediate relief, has contributed to a culture where spending can outpace income."

Population growth and consumerism are two other driving factors, according to Ge.

"There are also more deep-rooted issues that are causing such drastic increases in debt, from rising costs of essentials such as gas and groceries, to healthcare and living expenses (rent and bills), as costs continue to rise many Americans are being pushed to the edge and require relief that inevitably results in the building up of debt," Ge continued.

The top 10 states struggling with the most debt are:

  • No. 1 – California
  • No. 2 – Hawaii
  • No. 3 – Maryland
  • No. 4 – Alaska
  • No. 5 – Colorado
  • No. 6 – Washington
  • No. 7 – Virginia
  • No. 8 – Georgia
  • No. 9 – Texas
  • No. 10 – Nevada
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This article originally ran on CultureMap. Steven Devadanam contributed to this article.

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We're up to our ears in debt, Houston. Photo by Image Source/Getty Images

Surprising share of Houstonians saddled with $10,000 or more in credit card debt

fully charged

You hear that noise, Houston? It's the sound of your bank account screaming under the weight of the heavier debt load you're shouldering.

A report released by personal finance platform LendingTree shows Houston ranks tenth among the 100 largest U.S. metro areas for the share of people with credit card balances totaling at least $10,000.

In an aggressive jump, Houston climbed from No. 32 two years ago to No. 10 this year. According to LendingTree, 20 percent of cardholders in the metro have credit card debt of at least $10,000, and 1.6 percent have credit card debt of at least $50,000.

Elsewhere in Texas, Austin jumped 20 spots in the ranking to sixth in the nation, compared with its 26th-place showing in LendingTree's 2019 report. Some 20.8 percent of Austinites show credit card balances totaling at least $10,000. LendingTree says 1.7 percent of cardholders in Austin owe at least $50,000.

Meanwhile, Dallas-Fort Worth moved from No. 33 to No. 18. Today, 19.2 percent of cardholders in the metro have debt totaling at least $10,000 and 1.5 percent have credit card debt totaling at least $50,000.

San Antonio rose from No. 27 to No. 26. There, 18.4 percent of cardholders have credit card debt of $10,000 or more and 1.2 percent have credit card debt of $50,000 or more.LendingTree offers perhaps a partial explanation for the increase in five-digit credit card balances among Texas metros: "While the saying goes that 'everything is bigger in Texas,' that hasn't traditionally been the case with salaries in the Lone Star State. The big metros in Texas have generally trailed behind the big coastal metros in that measure."

Bridgeport, Connecticut, holds the No. 1 spot for the largest share of cardholders (24.3 percent) with at least $10,000 in debt.------

This article originally ran on CultureMap.

Houston is No. 13 in a recent study about credit card debt. Photo courtesy of Local Government Federal Credit Union

Houston racks up spot among worst cities for credit card debt

Debt dilemma

Many Houstonians are taking it to the limit — the credit limit, that is. A study published by LendingTree's CompareCards website finds that Houston ranks Houston ranks 13th nationally for the share of cardholders with at least one maxed-out card (28.4 percent). Ten percent have maxed out two or more cards.

Experian says the average credit card debt in the Houston metro area was $7,205 in the second quarter of this year, up 3.1 percent versus the same time in 2018. Houston ranks 11th for the highest level of credit card debt among major metro areas.

For its study, CompareCards analyzed an anonymized sample of credit reports from 1.3 million My LendingTree users with active credit cards. In the Alamo City, 29.2 percent of credit card holders have maxed out at least one card, meaning the balance is at least equal to the credit limit, according to CompareCards. Eleven percent have two or more maxed-out cards.

A report released November 4 by Experian, one of the major credit bureaus, shows the average credit card debt in the San Antonio metro area stood at $7,210 in the second quarter of this year, up 2.6 percent from the same period in 2018. That put it in 10th place for the highest amount of credit card debt among major metro areas.

Elsewhere in Texas, San Antonio ranks seventh with maxed-out debt. "The biggest reason for San Antonio appearing near the top of the list is probably income," says Matt Schulz, chief industry analyst at CompareCards. In 2018, the median household income in the San Antonio metro area was $57,379, compared with $60,629 in Texas and $61,937 in the U.S.

Meanwhile, Dallas lands at No. 43 (25.2 percent) and Austin at No. 66 (23.6 percent) on CompareCards' list of places for where cardholders have maxed out at least one credit card. The study indicates 8.7 percent of cardholders in Dallas and 7.6 percent in Austin have maxed out two or more cards.

Cardholders in Dallas-Fort Worth had average credit card debt of $7,291 in the second quarter of this year, up 1.8 percent from the same period in 2018, Experian says. DFW ranked eighth for the highest amount of debt among major metro areas.

In Austin, the average credit card debt in the second quarter of this year was $7,329, up 1.9 percent versus the year-ago period, according to Experian. That was the sixth highest amount among major metro areas.

Schulz points out that lower-income consumers tend to have credit cards with relatively low credit limits, making it easier for them to max out their cards.

At the top of the heap for maxed-out cardholders is Bridgeport, Connecticut, where 32.3 percent of consumers have maxed out at least one card, CompareCards says. In addition, 10.4 percent have maxed out two or more cards. Not surprisingly, cardholders in the Bridgeport metro area carried the highest average credit card debt in the U.S. during the second quarter of this year ($8,679), according to Experian.

The place with the lowest share of maxed-out cardholders is Provo, Utah, according to the CompareCards study. There, 17.9 percent of cardholders have maxed out at least one card, and 6.1 percent have two or more maxed-out cards.

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This article originally ran on CultureMap.

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Houston poised to add 30,900 new jobs in 2026, forecast says

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Buoyed by the growing health care sector, the Houston metro area will add 30,900 jobs in 2026, according to a new forecast from the Greater Houston Partnership.

The report predicts the Houston area’s health care sector will tack on 14,000 jobs next year, which would make it the No. 1 industry for local job growth. The 14,000 health care jobs would represent 45 percent of the projected 30,900 new jobs. In the job-creation column, the health care industry is followed by:

  • Construction: addition of 6,100 jobs in 2026
  • Public education: Addition of 5,800 jobs
  • Public administration: Addition of 5,000 jobs

At the opposite end of the regional workforce, the administrative support services sector is expected to lose 7,500 jobs in 2026, preceded by:

  • Manufacturing: Loss of 3,400 jobs
  • Oil-and-gas extraction: Loss of 3,200 jobs
  • Retail: Loss of 1,800 jobs

“While current employment growth has moderated, the outlook remains robust and Houston’s broader economic foundation remains strong,” GHP president and CEO Steve Kean said in the report.

“Global companies are choosing to invest in Houston — Eli Lilly, Foxconn, Inventec, and others — because they believe in our workforce and our long-term trajectory,” Kean added. “These commitments reinforce that Houston is a place where companies can scale and where our economy continues to demonstrate its resilience as a major engine for growth and opportunity. These commitments and current prospects we are working on give us confidence in the future growth of our economy.”

The Greater Houston Partnership says that while the 30,900-job forecast falls short of the region’s recent average of roughly 50,000 new jobs per year, it’s “broadly in line with the muted national outlook” for employment gains anticipated in 2026.

“Even so, Houston’s young, skilled workforce and strong pipeline of major new projects should help offset energy sector pressures and keep regional growth on pace with the nation,” the report adds.

The report says that even though the health care sector faces rising insurance costs, which might cause some people to delay or skip medical appointments, and federal changes in Medicare and Medicaid, strong demographic trends in the region will ensure health care remains “a key pillar of Houston’s economy.”

As for the local oil-and-gas extraction industry, the report says fluctuations and uncertainty in the global oil-and-gas market will weigh on the Houston sector in 2026. Furthermore, oil-and-gas layoffs partly “reflect a longer-term trend as companies in the sector move toward greater efficiency using fewer workers to produce similar volumes,” according to the report.

Construction underway on first-of-its-kind 3D-printed community in Houston

Building a Sustainable Future

Houston is putting itself front-and-center to help make sustainable, affordable housing a reality for 80 homeowners in an innovative scalable housing community. Developer Cole Klein Builders has partnered with HiveASMBLD to pioneer what’s touted as the world’s first large-scale, one-of-a-kind, affordable housing development using 3D printing technology — merging robotics, design, and sustainability.

Located across from Sterling Aviation High School, near Hobby Airport, Zuri Gardens will offer 80 two-bedroom, two-bathroom homes of approximately 1,360 square feet, situated in a park-like setting that includes walking trails and a community green space.

Homes in Zuri Gardens will hit the market in early summer of 2026. Final pricing has yet to be determined, but Cole Klein Builders expects it to be in the mid-to-high 200s.

Interestingly, none of the homes will offer garages or driveways, which the developer says will provide a cost savings of $25,000-$40,000 per home. Instead of parking for individual units, 140 parking spaces will be provided.

Each two-story home is comprised of a ground floor printed by HiveASMBLD, using a proprietary low-carbon cement alternative by Eco Material Technologies that promises to enhance strength and reduce CO2 emissions. The hybrid homes will have a second floor built using engineered wood building products by LP Building Solutions. Overall, the homes are designed to be flood, fire, and possibly even tornado-proof.

The "Zuri" in Zuri Gardens is the Swahili word for “beautiful,” a choice that is fitting considering that the parks department will be introducing a five acre park to the project — with 3D-printed pavilions and benches — plus, a three-acre farm is located right across the street. The Garver Heights area is classified as a food desert, which means that access to fresh food is limited. Residents will have access to the farm’s fresh produce, plus opportunities to participate in gardening and nutrition workshops.

zuri gardens 3d-printed housing community First large-scale affordable housing project of 3D-printed homes rises in Houston Zuri Gardens is getting closer to completion. Courtesy rendering

Cole Klein Builders created Zuri Gardens in partnership with the Houston Housing Community Development Department, who provided infrastructure reimbursements for the roads, sewer lines, and water lines. In return, CKB agreed to push the purchase prices for the homes as low as possible.

Zuri Gardens also received $1.8 million dollars from the Uptown Tourism Bond, 34 percent of which must be used with minority-owned small businesses. Qualified buyers must fit a certain area of median income according to HUD guidelines, and homes must be owner-occupied at all times. Zuri Gardens already has an 800-person waitlist.

“They’re trying to bridge that gap to make sure there is a community for the homebuyers who need it — educators, law enforcement, civil workers, etc.,” Cole Klein Builders’ co-principal Vanessa Cole says. “You have to go through a certification process with the housing department to make sure that your income is in alignment for this community. It has been great, and everyone has been really receptive.”

Cole has also brought insurance underwriters to visit the site and to help drive premiums below regular rates for Houston homeowners, as claim risks for one of the 3D homes are extremely low.

Tim Lankau, principal at HiveASMBLD, notes that the 3D hybrid design allows for a more traditional appearance, while having the benefits of a concrete structure: “That’s where the floodwaters would go, that’s where you can hide when there’s a tornado, and that’s where termites would eat. So you get the advantages of it while having a traditionally-framed second floor.”

It’s important to note that Zuri Gardens is not located in a flood prone area, nor did it flood during Hurricane Harvey — being flood-proof is merely a perk of a cement house. The concrete that Eco Material Technologies developed is impervious. The walls are printed into hollow forms, which house rebar, plumbing, and accessible conduits for things like electrical lines and smart house features. Those walls are then filled with a foamcrete product that expands to form a “monolithic concrete wall.”

David McNitt, of Eco Material Technologies, explains that his proprietary concrete is made of PCV, and contains zero Portland cement. Instead, McNitt’s cement is made from coal ash and is 99 percent green (there are a few chemicals added to the ash). Regardless, it’s made from 100 percent waste products.

“This is a product that has really been landfilled before,” says McNitt. “It’s coal ash, and it’ll set within 8-10 minutes. It’s all monolithic, and one continuous pour — it’s literally all one piece.”

Eco Material Technologies’ concrete product is impressively durable. A traditional cinderblock wall will crush at around 800 psi, while this material crushes at about 8,000 psi.

“It’s ten times stronger than a cinderblock wall that can withstand hurricanes,” claims McNitt. “I don’t think you’d even notice a hurricane. It’ll be really quiet inside, too — so you won’t get interrupted during your hurricane party. It’s way over-engineered, it really is.”

The second story is built using weatherproof and eco-friendly products by LP Building Solutions. Their treated, engineered wood products come with a 50 year warranty, and their radiant barrier roof decking product blocks 97% of UV rays, and keeps attic temperatures 30° cooler than traditional building materials. These materials, combined with the concrete first floor, will keep heating and cooling costs low — something the folks at HiveASMBLD refer to as “thermal mass performance.”

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This article originally appeared on CultureMap.com.

UH receives $2.6M gift to support opioid addiction research and treatment

drug research

The estate of Dr. William A. Gibson has granted the University of Houston a $2.6 million gift to support and expand its opioid addiction research, including the development of a fentanyl vaccine that could block the drug's ability to enter the brain.

The gift builds upon a previous donation from the Gibson estate that honored the scientist’s late son Michael, who died from drug addiction in 2019. The original donation established the Michael C. Gibson Addiction Research Program in UH's department of psychology. The latest donation will establish the Michael Conner Gibson Endowed Professorship in Psychology and the Michael Conner Gibson Research Endowment in the College of Liberal Arts and Social Sciences.

“This incredibly generous gift will accelerate UH’s addiction research program and advance new approaches to treatment,” Daniel O’Connor, dean of the College of Liberal Arts and Social Sciences, said in a news release.

The Michael C. Gibson Addiction Research Program is led by UH professor of psychology Therese Kosten and Colin Haile, a founding member of the UH Drug Discovery Institute. Currently, the program produces high-profile drug research, including the fentanyl vaccine.

According to UH, the vaccine can eliminate the drug’s “high” and could have major implications for the nation’s opioid epidemic, as research reveals Opioid Use Disorder (OUD) is treatable.

The endowed professorship is combined with a one-to-one match from the Aspire Fund Challenge, a $50 million grant program established in 2019 by an anonymous donor. UH says the program has helped the university increase its number of endowed chairs and professorships, including this new position in the department of psychology.

“Our future discoveries will forever honor the memory of Michael Conner Gibson and the Gibson family,” O’Connor added in the release. “And I expect that the work supported by these endowments will eventually save many thousands of lives.”

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