With the run up in North Texas home prices, it’s no surprise that Dallas-Fort Worth homeowners have a bigger debt burden.
But what D-FW residents owe is chicken feed compared to some big city metro markets.
D-FW area homeowners on average owe $194,710 in mortgage debt, according to a new report by credit company Experian. That compares to the current average home sales price in North Texas of $337,024.
D-FW’s average home debt is still a bit less than the nationwide average U.S. homeowner mortgage balance of $202,284.
And it’s less than half what homeowners in high-priced California markets owe on their properties.
In San Jose, the average mortgage balance is $519,576. And it’s $480,531 in San Francisco.
Homeowners in Danville, Ill. owe the less on their properties, just $70,964.