Hawaii Mortgage Debt Second Worst in the Country

How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble.

While the average home price in these states dropped in value during the recession, the foreclosure rates in these states are among the lowest in the country.

The reason: residents of these states can generally afford to lose and owe more money than their counterparts in other states. 24/7 Wall St. examined a recent report by Credit Karma to find the 10 states with the highest average mortgage debt.

Hawaii has the highest median home value in the country at $525,000. This is $154,000 more than the next highest state. Needless to say, taking out a mortgage on a home in the island state is a tremendous financial commitment. But with extremely low unemployment, high median income, low poverty and the second-highest rate of health insurance coverage in the country, Hawaii homeowners can generally afford it.

Leave a Reply

Your email address will not be published. Required fields are marked *

I do this to keep the spammers away * Time limit is exhausted. Please reload CAPTCHA.