Report: Minnesota owes $12,834 per resident in state, local debt

Minnesota’s state and local governments had $73 billion in total liabilities in fiscal year 2024, equal to $12,834 per resident, according to a new Reason Foundation report. That is below the national average of $18,346 per person. Minnesota ranked 32nd among states in per-capita total state debt, while Connecticut had the highest state debt per resident and Idaho the lowest.