Average mortgage debt among households with primary mortgages has declined by 4.6 % nationally since 2013, with all but 12 states reporting some amount of decline locally.
While in most states and the nation as a whole, average primary mortgage debt fell by some amount in the past five years, 12 states actually experienced an increase
in average mortgage debt.
Using this data, Credit Sesame identified a number of mortgage debt metrics for each state all pertaining to owner - occupied homes with a mortgage,
including average mortgage debt, median household income, median home value, debt - to - income ratio, and delinquency rate.
Only 12 states saw a growth
in average mortgage debt: Hawaii, Colorado, Oregon, Idaho, Nebraska, Texas, South Carolina, Montana, Wyoming, North Dakota, Iowa, and Kansas.
The average mortgage debt stands at $ 37,952 around the country, according to the Urban Institute's report, with regional variations from $ 24,605 in some parts of the South to $ 54,573 on the Pacific Coast.
In addition to credit card debt, we analyzed data on
the average mortgage debt carried by U.S. households who currently have a primary mortgage.
According to Experian,
the average mortgage debt is already $ 201,811, which is a lot.
On the opposite end of the spectrum, in Rhode Island, California, and Connecticut,
the average mortgage debt dropped by at least $ 19,000.
Yet in places where property values have risen extremely rapidly,
average mortgage debt might decline as high prices discourage the origination of new mortgages — all while older, lower - value mortgages continue to be paid off.
The average mortgage debt amounted to 85 % of the net realizable value of their home.
Because
the average mortgage debt takes into account everyone with a credit report, it includes individuals who don't own homes and don't have mortgages, including those who lost their homes to foreclosure over the last few years.
The average mortgage debt held by men was $ 187,245 compared to $ 178,140 for women.
For each state,
the Average mortgage debt was calculated by multiplying the Mortgage loan debt balance per capita (New York Fed) by the Population (New York Fed) and dividing the resulting number by the number of owner - occupied households with a mortgage.
The Debt - to - income ratio was calculated by dividing
the Average mortgage debt (calculated above) by the Median household income for owner - occupied units with a mortgage (ACS).
The average mortgage debt for a super prime score consumer is more than twice average mortgage debt held by those with a score of 600 or lower.
Brownfield agrees: «
The average mortgage debt load for farmland purchases today is less than 20 percent.»