Report: 10 Cities Weighed Down by Mortgage Debt

For many Americans, a mortgage is their single largest source of debt—and while a mortgage is not necessarily “bad” debt to have, some have so much so that their financial wellbeing is in jeopardy.

Personal finance website WalletHub recently mapped out the cities most weighed down by mortgage debt, based on a comparison of median mortgage balances with median home values and median incomes. According to its 2017 Home Overleverage Report, the 10 most overextended cities in the country are:

1. San Luis Obispo, Calif.
   Median Mortgage Balance: $333,641
   Median Home Value: $546,200
   Median Income: $16,565

2. Williamsburg, Va.
   Median Mortgage Balance: $200,768
   Median Home Value: $320,600
   Median Income: $10,207

3. Brooksville, Fla.
   Median Mortgage Balance: $103,023
   Median Home Value: $48,200
   Median Income: $21,953

4. Bay Point, Calif.
   Median Mortgage Balance: $236,031
   Median Home Value: $165,900
   Median Income: $20,829

5. Willis, Texas
   Median Mortgage Balance: $133,919
   Median Home Value: $70,300
   Median Income: $22,159

6. McKees Rocks, Pa.
   Median Mortgage Balance: $93,104
   Median Home Value: $46,300
   Median Income: $24,570

7. Ellensburg, W. Va.
   Median Mortgage Balance: $165,096
   Median Home Value: $195,000
   Median Income: $11,472

8. Dumfries, Va.
   Median Mortgage Balance: $252,155
   Median Home Value: $163,000
   Median Income: $34,102

9. North Fort Myers, Fla.
   Median Mortgage Balance: $118,020
   Median Home Value: $69,600
   Median Income: $22,588

10. Kailua, Hawaii
    Median Mortgage Balance: $371,395
    Median Home Value: $389,400
    Median Income: $30,063

Source: WalletHub

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