2019’s Cities with the Most Overleveraged Mortgage Debtors

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With mortgage rates slowly falling and the market friendlier to buyers than sellers, the free-credit-score website WalletHub today released its 2019 Home Overleverage Report.

In order to determine where homeowners have the most unsustainable mortgage debts, WalletHub compared the median mortgage debt to the median income and median home value in more than 2,500 U.S. cities.

Most Overleveraged Cities Least Overleveraged Cities
McKees Rocks, PA West Mifflin, PA
Ewa Beach, HI Cheektowaga, NY
Bell Gardens, CA Dublin, OH
Kahului, HI Galesburg, IL
Lahaina, HI Hannibal, MO
Santa Ana, CA St. Albans, WV
Fallbrook, CA Camden, SC
East Palo Alto, CA Naples, FL
Willis, TX Port Richey, FL
Dumfries, VA Gary, IN
Watsonville, CA Channelview, TX
Santa Maria, CA Darlington, SC
Huntington Park, CA Camden, NJ
Escondido, CA East St. Louis, IL
Waipahu, HI Chester, PA
Vista, CA Bloomfield Hills, MI
Bay Point, CA Scarsdale, NY
Hawthorne, CA Homosassa, FL
El Monte, CA Decatur, GA
Santa Barbara, CA Bronxville, NY

Key Stats

  • Inkster, Michigan, has the lowest mortgage debt-to-income ratio, 115 percent, which is 8.8 times lower than in Ewa Beach, Hawaii, the city with the highest at 1,013 percent.
  • Bronxville, New York, has the lowest mortgage debt-to-house value ratio, 17 percent, which is 15.5 times lower than in McKees Rocks, Pennsylvania, the city with the highest at 264 percent.
  • Inkster, Michigan, has the lowest median mortgage debt, $40,747, which is 18.8 times lower than in Beverly Hills, California, the city with the highest at $765,424.
  • Scarsdale, New York, has the highest median income, $205,625, which is 11.3 times higher than in Lake Placid, Florida, the city with the lowest at $18,239.

Prior to applying for a mortgage, we recommend prospective home buyers join WalletHub to review their free credit score and credit report to gauge their approval odds and possible interest rates. WalletHub’s Mortgage Payment Calculator can also help to determine an affordable monthly mortgage payment and realistic payoff timeline.

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