The millennial generation is slow to get started in the housing market, and many of them put to blame their high amounts of student debt. Mapping Student Debt reports more than 42 million Americans owe a total of $1.1 trillion in school debt.
Using data from the Department of Education and tax information from the Internal Revenue Service, Mapping Student Debt breaks down where borrowers are the most bogged down. The maps below measure ZIP code-level data, average household student loan balances and delinquency in relation to ZIP code median income.
According to the map below, the lighter the color the lower the delinquency rate of loans. Dark purple represents an area with extremely high delinquency.
Washington residents, for the most part, have extremely low delinquency rates on their loans. However, these residents are still facing some high price tags on their loan balances. A couple ZIP codes, including 20024, 20260, 20228 and 20202 don’t follow the same patterns, and have residents with high delinquency rates.
Let’s take a closer look at the city:
Maps by Mapping Student Debt through an interactive project with the Washington Center for Equitable Growth.