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Home > Community Development > Community Development Publications & Videos > Cascade > No. 64, Winter 2007

Changes in Family Finances

Family Holdings of Debt, by Selected Characteristics of Families and Type of Debt, 2004 Survey of Consumer Finances
Family characteristic Secured by residential property Lines of credit not secured by residential property Install-ment loans Credit card balances Other Any debt
Primary residence Other
  Percentage of families holding debt
All families
47.9
4.0
1.6
46.0
46.2
7.6
76.4
Percentile of income
Less than 20
15.9
-
-
26.9
28.8
4.6
52.6
20-39.9
29.5
1.5
1.5
39.9
42.9
5.8
69.8
40-59.9
51.7
2.6
1.8
52.4
55.1
8.0
84.0
60-79.9
65.8
4.1
1.8
57.8
56.0
8.3
86.6
80-89.9
76.8
7.5
2.6
60.0
57.6
12.3
92.0
90-100
76.2
15.4
2.5
45.7
38.5
10.6
86.3
Age of head (years)
Less than 35
37.7
2.1
2.2
59.4
47.5
6.2
79.8
35-44
62.8
4.0
1.5
55.7
58.8
11.3
88.6
45-54
64.6
6.3
2.9
50.2
54.0
9.4
88.4
55-64
51.0
5.9
0.7
42.8
42.1
8.4
76.3
65-74
32.1
3.2
0.4
27.5
31.9
4.0
58.8
75 or more
18.7
1.5
-
13.9
23.6
2.5
40.3
Race or ethnicity of respondent
White non-Hispanic
51.9
4.4
1.7
47.0
46.0
7.8
78.0
Nonwhite or Hispanic
37.4
3.0
1.1
43.2
46.7
7.3
72.5
Current work status of head
Working for someone else
56.1
4.1
1.9
55.7
54.9
9.8
86.1
Self-employed
59.5
10.2
3.0
43.5
44.3
5.8
81.5
Retired
24.6
1.2
-
22.8
25.9
3.9
50.7
Other not working
30.3
-
-
45.6
41.0
-
70.4
Housing status
Owner
69.4
5.1
1.3
46.6
48.8
7.7
82.3
Renter or other
-
1.7
2.1
44.6
40.4
7.3
63.4
Percentile of net worth
Less than 25
12.4
-
1.3
47.5
40.3
6.2
64.9
25-49.9
52.8
1.4
1.7
52.4
57.9
9.4
83.8
50-74.9
66.1
4.5
1.9
49.1
52.8
7.0
83.2
75-89.9
61.6
5.7
1.3
40.2
40.5
7.1
74.6
90-100
58.4
16.6
1.4
27.2
23.5
9.1
72.7

Return to the Cascade article, "Changes in Family Finances."