9 U.S. Cities Still Underwater in Mortgages

Posted on Friday September 9, 2016 in News, Uncategorized

Equity is growing across the country for more and more homeowners. The number of underwater mortgages is also improving. But in nine U.S. cities, more than one in five home owners are considered seriously underwater. The national average is only about one in 10 as comparison.

Here are the nine housing markets most beleaguered by underwater mortgages:

Cleveland

  • Percentage seriously underwater: 27.5%
  • Percentage of equity rich: 11.8%

Las Vegas

  • Percentage seriously underwater: 25.7%
  • Percentage of equity rich: 14%

Akron

  • Percentage seriously underwater: 24.9%
  • Percentage of equity rich: 12.6%

Dayton

  • Percentage seriously underwater: 24.1%
  • Percentage of equity rich: 10.9%

Toledo

  • Percentage seriously underwater: 23.6%
  • Percentage of equity rich: 13.1%

Chicago

  • Percentage seriously underwater: 22.5%
  • Percentage of equity rich: 13.2%

Lakeland, Fla.

  • Percentage seriously underwater: 21.6%
  • Percentage of equity rich: 15.9%

Detroit

  • Percentage seriously underwater: 21.3%
  • Percentage of equity rich: 17.6%

Kansas City

  • Percentage seriously underwater: 21.2%
  • Percentage of equity rich: 10.9%

Source: RealtyTrac and MarketWatch, August 11, 2016