The analysis on debt also showed some older people had debts on real estate even as they went into the retirement age.
Real estate loans were well offset against property assets, with 29c of debt for every dollar of real estate assets.
Half of all New Zealanders over the age of 15 had a debt.
For all those reporting a debt, the average debt was $79,000. Compared with other age groups, people aged 35 to 44 had the highest average debt of $109,000.
The data showed people who reported a real estate debt paid off loans on owner-occupied property as they got older while still having loans on other real estate properties.
The average loan owed by those aged 25-44 years on owner-occupied property was $145,000, dropping to $107,000 for those aged 45-64 years.
However, the average loan on "other" properties across each of these age groups remained at about $176,000, Statistics NZ said.
Labour housing spokesman Phil Twyford said the statistics showed Kiwis were taking on record levels of debt in order to get into the housing market as property prices outstripped incomes.
"Kiwis are drowning in debt as even middle-income families mortgage themselves to the hilt to get a foothold in a runaway housing market.
"Hundreds of thousands of Kiwi families are sending an ever increasing portion of their income to the Aussie banks each week, leaving them with less to live on."
New Zealanders were so indebted that for many, even a slight increase in interest rates could send them "under water", he said.
According to the Reserve Bank, since National came to office, housing debt has grown from $161billion to $223billion — an increase of $62.5billion or 39%.
National’s refusal to intervene in a runaway housing market was putting Kiwis’ financial wellbeing at risk, Mr Twyford said.