When including underlying public agencies such as school districts and transit authorities, Chicago bears the highest per-taxpayer debt burden of any of the 10 most populous cities in the U.S., according to research released today by Truth in Accounting (TIA).
That financial burden equals $119,110 per Chicago taxpayer, according to the nonprofit that promotes transparency in government operations. In contrast, Phoenix’s combined per-taxpayer burden is $13,290.
When TIA examined only municipal debts of the 75 largest U.S. cities earlier this year, Chicago finished with the second highest municipal debt: $36,000 per taxpayer. Only New York City boasted more red ink, at $64,100 per taxpayer.
When the total debt numbers from the 10 cities are examined collectively, the average combined debt burden per taxpayer was nearly $50,000. This calculation includes other government entities’ debt numbers, including those of states and counties.
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Per-Taxpayer Debt Loads for Largest U.S. Cities
| Rank (Highest to Lowest) | City | Per-Taxpayer Combined Debt |
| 1 | Chicago | $119,110 |
| 2 | New York City | $85,600 |
| 3 | Los Angeles | $56,390 |
| 4 | Philadelphia | $50,120 |
| 5 | San Jose | $43,120 |
| 6 | San Diego | $35,410 |
| 7 | Dallas | $33,490 |
| 8 | Houston | $22,940 |
| 9 | San Antonio | $16,660 |
| 10 | Phoenix | $13,290 |
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