Top 10 Cities With Best, Worst Mortgage Leverage
March 25, 2020 9:56 AM
by
Keith Griffin
News

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

To determine the cities where people are most overleveraged on their homes, WalletHub first calculated the ratio between the median mortgage debt (based on TransUnion data from September 2019) and the median income in each of 2,530 U.S. cities. Next, it calculated the ratio between each city’s median mortgage debt and its median home value.

Most Overleveraged Cities

  • Willis, TX
  • Bell Gardens, CA
  • Ewa Beach, HI
  • Dumfries, VA
  • Blacklick Estates, OH
  • McKees Rocks, PA
  • York, PA
  • Canton, MS
  • Kahului, HI
  • Santa Maria, CA

Least Overleveraged Cities

  • Dublin, OH/ Powell, OH
  • Cheektowaga, NY
  • Chagrin Falls, OH
  • Hingham, MA
  • Plymouth, MI
  • Greenwood, MS
  • Gary, IN
  • St. Albans, WV
  • Gahanna, OH
  • Princeton, NJ

West Mifflin, Pennsylvania, has the lowest mortgage debt-to-income ratio, 140 percent, which is 7.4 times lower than in Bell Gardens, California, the city with the highest at 1,041 percent.

Bronxville, New York, has the lowest mortgage debt-to-house value ratio, 19 percent, which is 9.6 times lower than in McKees Rocks, Pennsylvania, the city with the highest at 182 percent.

East St. Louis, Illinois, has the lowest median mortgage debt, $42,809, which is 18.7 times lower than in Beverly Hills, California, the city with the highest at $802,098.

Scarsdale, New York, has the highest median income, $211,139, which is 9.6 times higher than in Bastrop, Louisiana, the city with the lowest at $22,021.

More information about the mortgage leverage rankings.

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