Homeowners with Negative Mortgages: 50.4%
Staying in the South, we have another city that didn’t move quarter-over-quarter. The reigning second-place city is none other than Atlanta, where just over half of all homeowners have negative equity. That’s pretty bad, but it’s around 3 percentage points better than it was in Q2.
Housing prices have been on their way back up of late, but the median price for vacant houses on the market is still barely over $200,000. Atlanta has 187,000 houses, and 168,000 of those are occupied — 56% by renters.
The median household income for houses with a mortgage is high, though: an impressive $92,324. But only about 45,000 homes of that 187,000 total have a mortgage.