7 Cities With Fewest Underwater Home Owners

DAILY REAL ESTATE NEWS | TUESDAY, NOVEMBER 01, 2011
Rochester, N.Y., has the fewest number of homes underwater in the country, according to an analysis by 24/7 Wall St., which culled CoreLogic data to recently identify the housing markets with the fewest number of underwater home owners. 

Nationwide, 11 million households are considered underwater—meaning they owe more on their mortgage than their home is currently worth.

Here are the cities that are countering that trend and have the fewest number of underwater home owners, according to 24/7 Wall St.: 

1. Rochester, N.Y.
Percentage of homes underwater: 3.41%
Home price change in last year: +0.25%

2. El Paso, Texas
Percentage of homes underwater: 3.89%
Home price change in last year: +5.73%

3. Albany-Schenectady-Troy, N.Y.
Percentage of homes underwater: 4.01%
Home price change in last year: -0.90%

4. Buffalo-Niagara Falls, N.Y.
Percentage of homes underwater: 4.22%
Home price change in last year: 3.92%

5. Fayetteville, N.C.
Percentage of homes underwater: 4.56%
Home price change in last year: +1.14%

6. Huntsville, Ala.
Percentage of homes underwater: 5.30%
Home price change in last year: -4.39%

7. Lancaster, Pa.
Percentage of homes underwater: 5.44%
Home price change in last year: -1.83%

See which other cities made the list. 

Source: “10 Cities Where Mortgages Are Staying Afloat,” AOL Real Estate (Oct. 28, 2011)

Read More:
Survey Reveals Top 8 Best Places to Live