COVID-19 has ruined a lot of plans for homeowners in Illinois. Currently, 332,278 are behind on mortgage payments, while 301,828 people are behind on rent payments. This is sadly unsurprising seeing how 136,631 people have lost their jobs since the start of the pandemic in the U.S. Furthermore, 149,987 residents think there’s a good chance they’ll lose their jobs soon.
Most shocking of all is that 1.2 million households can’t seem to reliably pay their expenses in time.
This is all on top of the Prairie State’s outstanding $226 billion debt. Such high numbers would mean that taxpayers would have a burden of $52,000 in order to pay it all off.
And, finally, the state with the worst burden on taxpayers, New Jersey. Prior to the global health crisis, the Garden State has a debt of $189.6, meaning that each taxpayer would have to pay up to $57,900 in order to get rid of it all.
Those numbers are projected to rise substantially given that millions of residents are having a hard time keeping up with household expenses. 1 million people said it’s challenging to pay bills altogether.
Another 280,258 people are behind on their rent while 346,052 homeowners are behind on their mortgage payments.
So, there you have it, these are the states that are struggling the most in terms of debt. Do you live in any of these states? Let us know how you’ve been handling your expenses during the pandemic in the comments down below!