Costs in general are climbing across the country, and mortgages are often already a significant chunk 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. Out of the top 50 of those 67, California dominates, taking up almost half of the spots on the list. Florida also shows up high on the list, making up the top five, though in total there are fewer than 10 Florida locations in the top 50.
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Even though some of these “cities” are small towns, villages or private communities, Experian counts them all as cities in its data. Here are the the top 50 cities with the highest mortgage balances in 2025.
Also see 25 places in the U.S. where only the wealthy can afford a home.
Average mortgage balance: $3,627,594
Average home value: See editor’s note
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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
