It’s well known that Millennials in the U.S. have to live under a cloud of debt, according to a recent story by statista. A new study by LendingTree has shown just how bad the situation is for young Americans today with the median debt balance for Millennials living in the country's 50 largest cities $23,064. The research analyzed anonymized credit report data on the LendingTree platform (which has over 9 million active accounts) from people born between 1981 and 1996.

Excluding mortgages, Millennials in San Antonio, Texas, have the highest debt burden in the country with a median of $72,122. Pittsburgh comes second with $26,403 while Austin is third-worst with $26,164. Three cities in California had the lowest median debt burden—San Jose, Sacramento and Los Angeles. All of them have median debt levels below $20,000 among Millennials.

Student loans account for the highest share of America's millennial debt, comprising 40 percent of their total credit and loan balances. Click here to read the full story from statista.com.