Almost half of St Louis County Homeowners With Mortgage Are Underwater or Nearly Underwater

By Dennis Norman, on October 23rd, 2014

Over 80,000 homeowners, or 27% of all homeowners with a mortgage,  in St Louis County are seriously underwater on their mortgage meaning the total balance of their mortgages represents 125% or more of the current value of their home.  In addition, there are 53,548 homeowners, or 18% of all homeowners with a mortgage,  in St Louis County that have mortgage balances between 90% and 110% of the value of their home, according to data just released by RealtyTrac.

As the table below shows, for the St Louis MSA, 21% of homeowners with a mortgage are underwater and 19% have “resurfacing equity” (mortgage balances equal 90% – 110% of the value of their home).  Of the 5-county core St Louis market, St Charles County has the lowest percentage of seriously underwater homeowners at 10% and St Louis County has the highest at 27%.

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Data Source: RealtyTrac – Copyright 2014 St Louis Real Estate News

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