50 cities with the highest mortgage balances in 2025: 23 are in California

Overall costs are rising across the country, and mortgages often already make up a significant portion of people’s monthly budgets.

According to Experian, there are 67 cities where the average mortgage is $1 million or more, up from 47 in 2024 and 23 in 2023. Of the top 50 of those 67, California dominates, taking up nearly half of the spots on the list. Florida is also high on the list, in the top five, although in total there are fewer than 10 Florida locations in the top 50.

Find out: What salary do single people need to live comfortably in 100 major US cities?

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Although some of these “cities” are small towns, villages, or private communities, Experian counts them all as cities in their data. Here are the 50 cities with the highest mortgage balances in 2025.

Also see 25 Places in the US Where Only the Rich Can Afford a House.

• Average mortgage balance: $3,627,594

• Average home value: See editor’s note

See: Salary needed to achieve the American dream in the 50 largest cities

• Average mortgage balance: $3,206,007

• Average home value: $2,557,915

• Average mortgage balance: $2,969,951

• Average home value: $7,323,510

• Average mortgage balance: $2,620,156

• Average home value: $1,204,699

• Average mortgage balance: $2,585,199

• Average home value: $624,700

• Average mortgage balance: $2,487,787

• Average home value: $5,207,186

• Average mortgage balance: $2,149,578

• Average home value: $4,997,562

• Average mortgage balance: $2,137,851

• Average home value: $7,543,077

• Average mortgage balance: $2,016,164

• Average home value: $8,256,826

• Average mortgage balance: $1,977,857

• Average home value: $7,355,433

• Average mortgage balance: $1,885,057

• Average home value: $1,891,500

• Average mortgage balance: $1,820,562

• Average home value: $2,204,098

• Average mortgage balance: $1,805,838

• Average home value: $2,046,348

• Average mortgage balance: $1,716,991

• Average home value: $3,152,175

• Average mortgage balance: $1,714,070

• Average home value: $3,060,726

• Average mortgage balance: $1,703,147

• Average home value: $4,068,665

• Average mortgage balance: $1,658,100

• Average home value: $2,043,443

• Average mortgage balance: $1,632,675

• Average home value: $3,783,088

• Average mortgage balance: $1,591,382

• Median home value: $5,674,462

• Average mortgage balance: $1,581,734

• Average home value: $3,028,205

• Average mortgage balance: $1,546,637

• Average home value: $5,297,402

• Average mortgage balance: $1,531,787

• Average home value: $3,013,707

• Average mortgage balance: $1,494,513

• Average home value: $3,952,886

• Average mortgage balance: $1,439,785

• Average home value: $4,046,015

• Average mortgage balance: $1,432,504

• Average home value: $3,185,448

• Average mortgage balance: $1,427,803

• Average home value: $2,715,465

• Average mortgage balance: $1,405,440

• Average home value: $3,978,968

• Average mortgage balance: $1,394,884

• Average home value: $4,154,680

• Average mortgage balance: $1,375,108

• Average home value: $4,209,975

• Average mortgage balance: $1,340,276

• Average home value: $4,337,154

• Average mortgage balance: $1,325,656

• Average home value: $2,846,109

• Average mortgage balance: $1,310,153

• Average home value: $1,130,077

• Average mortgage balance: $1,309,353

• Average home value: $4,239,471

• Average mortgage balance: $1,284,442

• Average home value: $3,029,768

• Average mortgage balance: $1,282,110

• Average home value: $2,591,524

• Average mortgage balance: $1,264,207

• Average home value: $3,182,704

• Average mortgage balance: $1,257,752

• Average home value: $2,722,692

• Average mortgage balance: $1,256,154

• Average home value: $4,003,076

• Average mortgage balance: $1,233,851

• Average home value: $3,063,689

• Average mortgage balance: $1,223,760

• Average home value: See editor’s note

• Average mortgage balance: $1,222,458

• Average home value: $2,807,550

• Average mortgage balance: $1,214,482

• Average home value: $3,220,094

• Average mortgage balance: $1,202,937

• Average home value: See editor’s note

• Average mortgage balance: $1,184,599

• Average home value: $1,708,185

• Average mortgage balance: $1,160,571

• Average home value: $3,420,704

• Average mortgage balance: $1,158,228

• Average home value: $4,573,488

• Average mortgage balance: $1,155,137

• Average home value: $2,124,027

• Average mortgage balance: $1,150,690

• Average home value: $3,207,511

• Average mortgage balance: $1,146,044

• Average home value: $2,371,680

• Average mortgage balance: $1,123,867

• Average home value: See editor’s note

Editor’s Note: Some entries are small gated communities, towns or neighborhoods within larger areas, so a single median home value may not accurately represent the area. Average home values ​​from Zillow.

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This article originally appeared on GOBankingRates.com: 50 Cities With the Highest Mortgage Balances in 2025 – 23 Are in California