Generation X has the highest debt

A new study from LendingTree revealed that citizens belonging to Generation X are on average the most "indebted" of all age groups analyzed, not counting mortgage debt.

The report explains that mortgages account for the largest share of household debt. On average, non-mortgage debt is nationally about $24,600.

Generation Xers owe almost $10,000 more than the national average. Citizens between the ages of 49 and 59 owe more than $33,800. Millennials follow with more than $30,500:

"Across the four generations analyzed, the median non-mortgage debt in the 100 largest metros is $24,668. Gen Xers in these metros have a median debt of $33,859 — the highest by generation and twice as high as that among Gen Zers ($16,562)," the study noted.

The debt covered in report does not include non-mortgage loans, though it does count credit cards, automobile loans, student loans and personal loans.

Average balance of non-mortgage debt by generation

Generation X led the list in three of the four categories analyzed: highest median balances on credit cards, car loans and student loans.

In the other generations the median debt is:

- Gen X (ages 44 to 59): $33,859.

- Millennials (ages 28 to 43): $30,558.

- Baby Boomers (ages 60 to 78): $18,779.

- Gen Z (ages 18 to 27): $16,562.

Credit card debt high across all generations

Credit card debt is very high across all generations. According to the study, "The median percentage of those with credit card debt in the 100 largest metros ranges from 80.8% of Gen Zers to 93.1% of baby boomers."

On the other hand, "Millennials are most likely to have student debt, but Gen Xers have the highest balance. Specifically, 38.4% of millennials have student debt, with a median balance of $24,112. In comparison, 25.4% of Gen Xers owe a median balance of $31,066 in student debt," the study found.