San Diego San Diego

San Diego is a top market for overleveraged mortgage debt. According to a new report from Wallet Hub, the city ranks in the top 11% percent, with an average home overleveraged score in the 89th percentile. The report analyzed 2,500 cities across the country. The difference between median house price and income is driving the high leverage.

“San Diego is among the cities with the highest mortgage debts,” Jill Gonzalez of Wallet Hub, tells GlobeSt.com. “This is because the median house value in the city is very high, at almost $600,000, while the median income is only about $55,000. This makes housing affordability a serious issue. However, people want to own a home, and they end up taking mortgages that can put strains on their household budgets.”


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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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