Over Half Of Ferguson Homeowners Have Negative Equity

By Dennis Norman, on October 23rd, 2014

Over half of the homeowners in Ferguson are in a negative-equity position meaning their current mortgage loan balance exceeds the current value of their home, according to data from RealtyTrac.  According to the latest data available, 51% of the homeowners in Ferguson with a mortgage are seriously underwater on their mortgages with balances that are equal to or higher than 125% of the value of their homes.  Another 14% of Ferguson homeowners have mortgage balances of between 90% and 110% of the value of their homes.

Ferguson Serious Underwater Rate More Than Double Rate for St Louis MSA…

As the table below shows, Ferguson’s seriously underwater rate, at 51%, is more than double the rate for the St Louis MSA as a whole (21%) and is nearly double the rate for St Louis county of 27%.  At the other end of the spectrum, only 6% of Ferguson homeowners have mortgages equal to 50%, or less, of the value of their homes, exactly half the rate for St Louis County and less than half the rate for the St Louis MSA.

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