Residents of Washington D.C. had the highest average mortgage debt at $385,000, followed by California ($336K) and Hawaii ($331K). People in West Virginia owed the least on their homes, with an average of $113,000 in mortgage debt.
|Top 10 States with the Highest Average Mortgage Debt|
|Top 10 States with the Lowest Average Mortgage Debt|
While residents in West Virginia owed the least on their homes, the amount owed increased by 4.01% from the prior year, making West Virginia one of the top 5 states in the country with the biggest average increase in mortgage debt. North Dakota was the top state with the largest average increase in mortgage debt with a 5.52% increase from the prior year.
On the other hand, Vermont fared the best in terms of average mortgage debt from the prior year, and was the only state which had a drop in the average mortgage debt when compared to the prior year with a decrease by -0.08%.
|Top 10 States with the Highest % Increase in Mortgage Debt Compared to the Prior Year|
|Top 10 States with the Lowest % Increase in Mortgage Debt Compared to the Prior Year|
When looking at a longer timeframe, North Dakota has had the largest increase in average mortgage debt with an increase by 52.29%, from $99,833 to $152,039. Whereas, Nevada had a decrease in average mortgage debt by -15.00%, from $247,855 to $210,673.
|Top 10 States with the Highest % Increase in Mortgage Debt Compared to 9 Years Ago|
|Top 10 States with the Lowest % Increase in Mortgage Debt Compared to 9 Years Ago|
Average Mortgage Debt by State
|State||Average Mortgage Debt||% Change from Prior Year|
Your mortgage debt appears on your credit report and is one of many factors that can influence your credit score. Most credit scores consider the total amount of debt you have, your credit mix (types of debt), and your payment history. Making mortgage payments in full and on time, every time will help you build a positive credit history and can improve your credit scores. Missing payments or paying less than the full amount owed can harm your scores. (Learn more about credit reports.)