To determine the states with the most mortgage debt, 24/7 Wall St. reviewed data from the 2021 State of Credit Report by Experian, a consumer reporting agency. Average mortgage debt is a measure of the average first mortgage balance per consumer who had an open first mortgage account.
Figures for median home value, median household income, homeownership rates, and the share of owner-occupied households with a mortgage came from the U.S. Census Bureau’s 2019 American Community Survey.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.