Americans collectively owe over $12.6 trillion in mortgage debt, and the personal finance website WalletHub today released its report on the States Adding the Most Mortgage Debt, highlighting where homeowners are facing the greatest challenges.
The site examined proprietary data from Q3 2024 to Q4 2024 to compare mortgage debt trends across all 50 states.
North Carolina ranked 43rd in the nation and South Carolina ranked 31st.
States Adding the Most Mortgage Debt
| Overall Rank* | State | Total Score | Change in Mortgage Debt Q4 2024 vs Q3 2024 Rank | Average Mortgage Balance Q4 2024 & Monthly Payment Q4 2024 Rank |
|---|---|---|---|---|
| 1 | Vermont | 78.93 | 1 | 30 |
| 2 | Delaware | 59.20 | 2 | 32 |
| 3 | Massachusetts | 59.11 | 6 | 5 |
| 4 | Minnesota | 51.49 | 4 | 21 |
| 5 | Hawaii | 51.18 | 17 | 2 |
| 6 | Arkansas | 49.62 | 3 | 45 |
| 7 | California | 47.05 | 31 | 1 |
| 8 | Maine | 46.79 | 5 | 34 |
| 9 | Washington | 45.31 | 21 | 4 |
| 10 | Colorado | 44.39 | 16 | 7 |
| 11 | Nevada | 44.10 | 12 | 12 |
| 12 | New Hampshire | 43.50 | 10 | 17 |
| 13 | Virginia | 41.93 | 15 | 11 |
| 14 | Florida | 41.64 | 14 | 13 |
| 15 | New Mexico | 39.32 | 7 | 42 |
| 16 | New York | 38.71 | 33 | 3 |
| 17 | Texas | 38.55 | 18 | 14 |
| 18 | Tennessee | 38.53 | 9 | 31 |
| 19 | North Dakota | 38.03 | 8 | 36 |
| 20 | Oregon | 37.85 | 20 | 15 |
| 21 | Alabama | 35.19 | 11 | 41 |
| 22 | Georgia | 35.15 | 24 | 19 |
| 23 | Alaska | 33.97 | 26 | 16 |
| 24 | New Jersey | 33.50 | 38 | 6 |
| 25 | Oklahoma | 33.03 | 19 | 25 |
| 26 | Arizona | 32.77 | 28 | 18 |
| 27 | Wisconsin | 30.96 | 13 | 44 |
| 28 | Maryland | 29.10 | 43 | 9 |
| 29 | Missouri | 28.37 | 22 | 39 |
| 30 | Rhode Island | 26.53 | 29 | 28 |
| 31 | South Carolina | 26.17 | 30 | 29 |
| 32 | Wyoming | 25.21 | 37 | 22 |
| 33 | Ohio | 24.79 | 23 | 47 |
| 34 | Louisiana | 23.93 | 35 | 33 |
| 35 | Illinois | 23.56 | 40 | 23 |
| 36 | Idaho | 23.56 | 36 | 26 |
| 37 | Utah | 22.38 | 46 | 10 |
| 38 | Kentucky | 22.28 | 25 | 49 |
| 39 | Mississippi | 21.76 | 27 | 48 |
| 40 | Connecticut | 20.87 | 49 | 8 |
| 41 | Indiana | 20.68 | 34 | 43 |
| 42 | Iowa | 19.55 | 32 | 46 |
| 43 | North Carolina | 19.03 | 44 | 27 |
| 44 | Michigan | 18.32 | 39 | 40 |
| 45 | Pennsylvania | 17.79 | 41 | 37 |
| 46 | Montana | 17.39 | 47 | 20 |
| 47 | South Dakota | 15.49 | 48 | 24 |
| 48 | Nebraska | 14.96 | 45 | 35 |
| 49 | West Virginia | 11.20 | 42 | 50 |
| 50 | Kansas | 6.30 | 50 | 38 |
Note: *No. 1 = Largest Mortgage Debt Increase
