Nearly 1 in 4 St Louis Homeowners with a mortgage are underwater

Almost 1 of every 4 St Louis homeowners with a mortgage (23%) are seriously underwater, meaning their mortgage(s) total at least 125% of their homes current value, according to a report for the 1st quarter of 2014  just released this morning by RealtyTrac.  According to the report, there are 161, 310 St Louis homeowners that are underwater while 138,492 homeowners (19%) have “resurfacing equity” meaning their mortgage totals are 90% – 110% of their homes current value, allowing them to see the light at the end of the tunnel.  Throughout the state of Missouri, 22% of homeowners with a mortgage are seriously underwater and 20% have resurfacing equity.

At the opposite end of the spectrum, 13% of St Louis homeowners with a mortgage are “equity rich” with more than 50% equity in their homes.

St Charles County Has Lowest Rate of Underwater Homeowners

Of the five counties that make up the bulk of the St Louis market on the Missouri side of the Mississippi, St Charles county has the lowest percentage of underwater homeowners at just 11%.  The table below shows complete data for all 5 counties.

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St Louis Homeowners Underwater

Data Source: RealtyTrac

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