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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University of Houston debuts UH Health, expanding collaborative health care and research efforts

health care hub

The University of Houston has announced its cross-disciplinary academic venture, UH Health.

It will align UH’s efforts in education, research and clinical partnerships to create new opportunities to advance research and innovation, community impact, and education, according to a news release.

“From opening the state’s first college of optometry to developing groundbreaking vaccines, improving the health of all Texans has been a UH priority for decades,” UH President Renu Khator said in the release. “Now, with the launch of UH Health, we are bringing together the full strength of our health enterprise to expand our reach, advance research and transform the future of health for our communities.”

UH is adopting a fully collaborative model, with health professionals from various concentrations to help better understand overall patient care, which includes factors like clinical, behavioral and social factors that can influence health outcomes.

UH Health will also have partnerships with HCA Healthcare, Memorial Hermann Hospital, Baylor College of Medicine, MD Anderson Cancer Center and other Texas Medical Center facilities. In addition, UH Health will work with DHR Health in the Rio Grande Valley to create new opportunities for health care education, workforce development and research in one of Texas' medically underserved regions.

As part of UH Health, UH Health Family Care Center will provide integrated primary care and mental health services to the University and its surrounding communities at affordable prices to serve the Third Ward, East End and South Houston. The Household-Centered Care program will give students opportunities to work directly with community caregivers through patient home visits, while the 3rd Ward Place of Wellness offers health screenings, preventive services, education and other resources designed to support long-term health and well-being, according to UH. The College of Optometry will continue to see children and families via outreach programs and clinics across the community.

UH Health also aims to address shortages in health care professionals, providing a pipeline from the university to the workforce. According to the Texas Hospital Association, 64 percent of hospitals in the state are operating with reduced services and fewer beds due to staff shortages.

“Preparing the next generation of health care leaders is one of the most important investments we can make in the future of our state,” Jonathan McCullers, vice president for health affairs at UH and dean of the Tilman J. Fertitta Family College of Medicine at UH, added in the release. “UH Health is ensuring our graduates are equipped to work effectively in today’s complex healthcare environment.”

Additionally, UH shared it is investing $77 million into a 55,000-square-foot medical research facility aimed at boosting interdisciplinary research and scientific discovery.

“Healthcare is no longer delivered in isolation, and complex health challenges require coordinated solutions,” McCullers added. “UH Health allows us to work across disciplines to tackle health challenges, advance research and improve outcomes for patients and our community.”

Report: Houston ranks among 10 most affordable metros to raise a child

Family Matters

Raising a child is not an easy or inexpensive feat, but a new study has determined Houston parents have the 7th lowest childrearing costs in the country.

SmartAsset's new report, "Cost of Raising a Child in Major U.S. Metros – 2026 Study," calculated year-over-year changes in the annual cost of raising a child (factoring in childcare, additional housing costs, food, transportation, medical costs and other necessities) in the 48 largest U.S. metro areas. MIT's Living Wage Calculator was used to compare the living costs of a household with two working adults and one child to that of a childless household with two working adults.

Childrearing costs in Houston-Pasadena-The Woodlands have grown 3.37 percent since last year, totaling $22,605 for a family of three in 2026. That's $737 more than what it took to raise a child in 2025 and $1,209 higher than in 2024.

This is how SmartAsset broke down the annual cost for raising a child in the Houston area:

  • Cost of childcare: $10,265
  • Cost of food: $1,721
  • Other expenses: $10,619

Houston ranked 42nd in SmartAsset's national list of cities with the highest childrearing costs in 2026, making it the No. 7 most affordable U.S. metro.

San Francisco-Oakland-Fremont in California topped the list with the highest childrearing costs in the U.S., at $43,171. The cost for raising a child in this California metro soared nearly 11 percent higher since last year.

Memphis, Tennessee ranked dead last as the most affordable U.S. metro for raising a child in 2026. Families will spend less than $20,000 to raise a child in Memphis, only 3.24 percent more than what was needed in 2025.

Raising a child in other Texas metros
It may come as no surprise that Austin is the most expensive place to raise a child in Texas, and it appeared as the 31st most expensive U.S. metro for families. Parents will spend nearly $25,000 to raise a child in the state's capital city, which is $703 higher than it was a year ago.

Two other Texas metros join Houston among the top 10 most affordable U.S. metros for raising a family: San Antonio-New Braunfels (No. 3) and Dallas-Fort Worth-Arlington (No. 10). Childrearing costs in San Antonio add up to $21,393 annually, and Dallas-Fort Worth parents will spend $23,340 to raise their children in 2026.

The top 10 most affordable U.S. metros for raising a child in 2026 are:

  • No. 1 – Memphis, Tennessee ($19,922)
  • No. 2 – Nashville, Davidson-Murfreesboro-Franklin, Tennessee ($21,216)
  • No. 3 – San Antonio-New Braunfels ($21,393)
  • No. 4 – Birmingham, Alabama ($21,684)
  • No. 5 – Virginia Beach-Chesapeake-Norfolk, Virginia ($22,314)
  • No. 6 – Atlanta-Sandy Springs-Roswell, Georgia ($22,470)
  • No. 7 – Houston-Pasadena-The Woodlands ($22,605)
  • No. 8 – Richmond, Virginia ($22,658)
  • No. 9 – Louisville/Jefferson County, Kentucky ($23,270)
  • No. 10 – Dallas-Fort Worth-Arlington ($23,340)
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This article originally appeared on CultureMap.com.

Axiom Space expands executive team with two C-suite hires

new leaders

Fresh off officially making Texas its legal headquarters, Axiom Space has named two new C-level executives.

The Houston-based spacetech company, which is developing the first commercial space station, announced earlier this month that it had appointed Zach Gitomer as its new chief financial officer and Erick Wegerer as chief information officer.

Gitomer served as vice president of investor relations and capital markets for Axiom from March to June of this year. Before joining Axiom, he held various leadership roles at Bank of America, Merrill Lynch, and Citi, where he supported technology and growth companies, according to Axiom.

"Building era-defining space infrastructure and pioneering the orbital economy is a complex endeavor that requires not just an audacious vision and stellar engineering talent, but the financial infrastructure, discipline, and capital strategy to match," Gitomer shared in a LinkedIn post. "I’m honored to take on this role ... I’m looking forward to partnering with the exceptional leadership team here at Axiom Space during a defining chapter for the company and commercial spaceflight broadly, as well as a crucial period for maintaining U.S. human presence in low-Earth orbit and leadership in space exploration."

Wegerer joins Axiom after most recently serving as CIO of Washington-based Insitu Inc., a subsidiary of Boeing that develops customized unmanned hardware for commercial, government and defense customers.

"My time at Insitu was defined by talented people, meaningful challenges, and work that mattered. I'm grateful for the teams, partners, and leaders who made progress there possible. Stepping into Axiom, I'm energized by the mission, the momentum, and the opportunity to help shape what's next," Wegerer shared.

Photo via LinkedIn

The duo was celebrated on the floor of the New York Stock Exchange last week.

“We are pleased to welcome these exceptional leaders to the Axiom Space team," Axiom CEO Jonathan Cirtain added in the announcement. “Their strong record of helping complex organizations advance their strategic priorities will strengthen our executive team to further advance our core business objectives."

It's been a busy summer for Axiom. The company tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million, in June.

It also announced plans to open a Japanese subsidiary July 1. It tapped veteran Japanese astronaut Koichi Wakata to lead Axiom Space Japan as chief technology officer in the Asia-Pacific region. It also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

Axiom also officially redomiciled its legal headquarters from Delaware to Texas last month. Read more here.

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