Here are some of the key findings from the report: Millennials in San Antonio, Pittsburgh, and Austin, Texas, shoulder the largest debt burdens of the 50 biggest metro areas, with median non-mortgage debts of $27,122, $26,403 and $26,164, respectively.
Three California cities – San Jose, Sacramento and Los Angeles – have the lowest median balances on our list at $18,376, $18,691 and $19,299, respectively.
If you are a millennial living in San Antonio, Austin, Houston, and or Dallas — you are most likely broke and heavily indebted.
Half of the millennials in these cities have outstanding debts totaling $25,000 or more (not including mortgages).
The report notes that several of the nation's most expensive cities, such as San Jose, Los Angeles and New York City, are where millennials owe the least “It's worth noting that low debt burdens aren't necessarily a good thing when thinking about the economic vibrancy of a community,” McFadden pointed out.