Slightly over 1 of every 4 (26.4 percent) St Louis homeowners with a mortgage are underwater or, in other words, in a negative equity position owing more on their mortgage than their home is currently worth, according to a report by Zillow. This is slightly higher than the national rate of 25.4 percent and, unfortunately, is predicted by Zillow to increase in the coming months to about 26.7 percent by January 2014.
In addition to the St Louis homeowners that are underwater, the report indicates that another 20.7 percent of the St Louis homeowners with a mortgage have less than 20 percent equity in their homes, putting them at risk of going into a negative equity position if prices fall.
Things are still much better here in St Louis than in many places though. For example, in Las Vegas, over 50 percent (54.3%) of the homeowners there with a mortgage are underwater. The complete table listing all metro areas covered in the report is below:
| Metropolitan Area | Q1 2013: % of Homeowners w/Mortgages in Negative Equity | Q1 2013: “Effective” Negative Equity Rate, Including Homeowners w/ 20% or Less Equity | Q1 2014: Forecasted Negative Equity Rate | Minimum # of Homeowners Expected to be Freed from Negative Equity by Q1 2014[iii] |
| UNITED STATES | 25.4% | 43.6% | 23.5% | 1,494,051 |
| New York | 19.0% | 33.4% | 19.7% | N/A |
| Los Angeles | 21.3% | 36.8% | 15.7% | 94,642 |
| Chicago | 36.1% | 51.6% | 37.2% | N/A |
| Dallas-Fort Worth | 20.4% | 46.7% | 17.1% | 35,268 |
| Philadelphia | 22.7% | 40.9% | 22.5% | 1,908 |
| Washington | 26.6% | 44.5% | 25.8% | 9,463 |
| Miami-Fort Lauderdale | 37.0% | 50.0% | 34.5% | 24,046 |
| Atlanta | 47.6% | 64.1% | 46.2% | 14,343 |
| Boston | 15.9% | 33.9% | 15.4% | 3,619 |
| San Francisco | 20.9% | 34.7% | 16.2% | 32,302 |
| Detroit | 40.1% | 53.7% | 37.4% | 23,026 |
| Riverside | 39.7% | 59.7% | 28.6% | 74,693 |
| Phoenix | 35.9% | 53.0% | 29.2% | 51,580 |
| Seattle | 31.2% | 48.9% | 25.4% | 38,280 |
| Minneapolis-St. Paul | 30.3% | 49.8% | 27.2% | 21,575 |
| San Diego | 24.7% | 43.5% | 19.0% | 26,430 |
| Tampa | 39.3% | 53.4% | 36.9% | 12,550 |
| St. Louis | 26.4% | 47.1% | 26.7% | N/A |
| Baltimore | 27.1% | 45.0% | 27.0% | 976 |
| Denver | 16.9% | 41.5% | 14.6% | 12,029 |
| Pittsburgh | 13.2% | 28.8% | 12.7% | 2,076 |
| Portland | 25.5% | 45.2% | 22.2% | 14,007 |
| Sacramento | 37.5% | 55.8% | 26.8% | 40,001 |
| Orlando | 41.8% | 57.1% | 38.2% | 13,448 |
| Cincinnati | 26.1% | 48.7% | 24.9% | 5,118 |
| Cleveland | 28.1% | 46.6% | 27.4% | 2,860 |
| Las Vegas | 54.3% | 71.5% | 48.6% | 19,262 |
| San Jose | 13.5% | 26.0% | 10.0% | 9,774 |
| Columbus | 28.4% | 51.2% | 27.0% | 4,863 |
| Charlotte | 31.5% | 54.4% | 32.2% | N/A |
Source: Zillow
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