Keller WIlliams Luxury Logo
Home » Cities Where Most Homes Are Mortgage-Free

Cities Where Most Homes Are Mortgage-Free

by | Nov 26, 2008 | Luxury Market | 0 comments

Amid the subprime mortgage disaster, it’s easy to forget that a lot of people own their homes outright. In fact, a full one-third of U.S. homeowners don’t have a mortgage to worry about.

According to an analysis of census information by USA Today, there are 123 areas of the country where 40 percent or more of home owners don’t have a mortgage.

Many of those areas also never had any sort of boom in prices, either because they are in declining areas that have suffered job losses and dwindling population or because they are thriving retirement communities.

Cities with the highest percentage of owner-occupied properties that are mortgage free:
Bluefield, W. Va.: 57 percent
Sebring, Fla.: 56 percent
Odessa, Texas: 54 percent
McAllen-Edinburg-Mission, Texas: 54 percent
Weirton, W.Va.-Steubenville, Ohio: 53 percent

Source: USA Today, Haya El Nasser and Paul Overberg

Recent Posts

September Sales Statistics for the Big Island West Coast

September Sales Statistics for the Big Island West Coast

Real estate activity picked up in September mostly in the condominium, with a couple of bright spots in the single family markets. Mauna Lani Resort once again led the way in condo sales with seven closings, followed by Waikoloa Beach Resort and Kohanaiki, each with...

read more
Big Island Featured Restaurant & Activity – October 2025

Big Island Featured Restaurant & Activity – October 2025

Featured Restaurant: Brown’s Beach House If you’re looking for a tasty, elegant, open-air dining experience look no further than the Brown’s Beach House restaurant at The Fairmont Orchid in Mauna Lani Resort. Its Chef de Cuisine, Junior Ulep, is a celebrated...

read more
August Sales Statistics for the Big Island Resort Areas

August Sales Statistics for the Big Island Resort Areas

Real estate activity was spotty during the month of August, but slightly up over the month prior. Mauna Lani Resort led the way in condominium sales with three closings, followed by Mauna Kea Resort with two and single condo sales in Kohanaiki, Kūki`o and Waikoloa...

read more

Recent Listings

Call Now