Cupertino Found As Calif.'s Least Debt-ridden City: Study

CUPERTINO, CA — It's no surprise to learn that living in California is expensive. The Golden State represents the second most expensive state next to Hawaii, according to data from the U.S. Census Bureau on median monthly housing costs.

What is a surprise as cities go is Cupertino is California's second least debt-ridden city, according to the latest study by Lending Tree— the nation's largest online lending marketplace based in Carlotte, N.C.

Santa Cruz had the lowest.

According to the analysis, the residents of Cupertino had a median non-mortgage debt amount of $10,049 - the second lowest in the study of 165 California cities.

• 31 percent of Cupertino residents have an outstanding credit card balance, with the average balance totaling $6,476.45.
• 10 percent of Cupertino residents have outstanding personal loan debt, with an average balance of $2,083.42.
• 11 percent of Cupertino residents have outstanding student loan debt, with an average balance of $2,284.71.
• 48 percent of Cupertino residents have an auto loan balance.

Auto loans represent the largest single credit line for the average resident in nearly 84 percent of California cities. This stands to reason given that nearly 85 percent of California workers drive to work, with three quarters commuting alone. In the analyses, Lending Tree discovered just 2.6 percent of Californians rely on public transportation to get to and from work.

As far as age groups, it appears that Generation X shouldered the biggest amount of non-mortgage debt in 81 percent of California cities, compared with Baby Boomers and millennials.