In an article released by Business Insider analysts break down the average mortgage balances by state including the US average mortgage balance. Using statistical information provided by one of the main three credit bureau reporting agencies, Experian’s Decision Analytics, analysts created a heat map demonstrating the hot zones for high mortgage debt.
Ranking in the top five for mortgage debts are Washington DC, Hawaii, California, Maryland and New Jersey all with over $200,000 in average mortgage debts. The US average mortgage balance was $157,154 with only 16 states holding higher average balances. Rounding up the bottom five states for low loan balances are Oklahoma, Arkansas, Indiana, Mississippi and West Virginia with average mortgage debts of $93,195.
See how you stack up against your neighbors with the heat map below:
Here is the list of average home loan balances by state:
For more information visit the Business Insider post written by ANDY KIERSZ and LIBBY KANE at: http://www.businessinsider.com/mortgage-balance-state-map-2014-10
