Lakeland-Winter Haven has top ‘underwater’ mortgage rate for Florida’s largest MSAs

Among Florida’s most populous urban centers, the Lakeland-Winter Haven Metropolitan Statistical Area posted the highest percentage of mortgages that owe at least 25 percent more on their loans than their property is worth, according to a home equity analysis by ATTOM Data Solutions.


Among Florida’s most populous urban centers, the Lakeland-Winter Haven Metropolitan Statistical Area posted the highest percentage of mortgages that owe at least 25 percent more on their loans than their property is worth, according to a home equity analysis by ATTOM Data Solutions.

In the Lakeland-Winter Haven MSA, 11.2 percent of mortgages -- representing 13,224 properties -- were ranked “seriously underwater” in the first quarter of this year, followed by the Jacksonville MSA (10.3 percent) and Deltona-Daytona Beach-Ormond Beach (9.4 percent).

The analysis, which ranked only urban areas with 500,000 or more people, is based on a home’s estimated market value.

Altogether, U.S. states, including the District of Columbia, had 5.2 million properties considered seriously underwater at the end of March. That includes 9.5 percent of all properties with a mortgage, which is two-tenths of a percentage point lower than at the end of the first quarter last year.

Highest 'underwater' mortgage percentages among metro areas

MSAStatePopulationHousing UnitsTotal Seriously Underwater% of Seriously Underwater
Scranton--Wilkes-Barre--HazletonPA  559,898   258,929   14,055 21.9%
Baton RougeLA  824,667   342,165   21,740 19.9%
Youngstown-Warren-BoardmanOH-PA  552,521   258,345   16,876 19.5%
New Orleans-MetairieLA  1,250,247   553,791   25,701 18.5%
ToledoOH  606,684   273,080   21,617 18.0%
WichitaKS  640,505   270,248   17,979 17.3%
Harrisburg-CarlislePA  561,447   245,147   16,033 16.9%
Cleveland-ElyriaOH  2,061,630   956,766   77,282 16.5%
Milwaukee-Waukesha-West AllisWI  1,571,730   672,345   39,715 16.0%
DaytonOH  800,950   367,700   27,293 15.5%
AkronOH  703,168   313,270   25,295 15.3%
St. LouisMO-IL  2,803,449   1,237,807   95,796 14.7%
Chicago-Naperville-ElginIL-IN-WI  9,528,396   3,806,802   272,166 13.8%
Detroit-Warren-DearbornMI  4,296,731   1,893,454   117,084 13.6%
Virginia Beach-Norfolk-

Newport News

VA-NC  1,714,428   706,394   45,997 13.4%
Kansas CityMO-KS  2,070,147   885,626   51,822 13.4%
Indianapolis-Carmel-AndersonIN  1,968,768   836,782   48,432 12.7%
SyracuseNY  660,652   289,965   9,365 12.7%
Fayetteville-Springdale-RogersAR-MO  503,642   205,416   11,699 12.6%
Little Rock-North Little Rock-

Conway

AR  727,371   318,085   15,979 12.4%
MemphisTN-MS-AR  1,341,339   563,649   28,423 12.1%
Louisville-Jefferson CountyKY-IN  1,269,550   548,435   23,763 11.9%
Atlanta-Sandy Springs-RoswellGA  5,612,777   2,219,590   128,164 11.8%
CincinnatiOH-KY-IN  2,146,410   919,236   52,823 11.8%
Des Moines-West Des MoinesIA  611,755   253,912   16,537 11.7%
ColumbiaSC  800,559   342,212   15,711 11.5%
Augusta-Richmond CountyGA-SC  584,964   249,314   11,199 11.5%
Birmingham-HooverAL  1,141,309   507,518   19,521 11.4%
Baltimore-Columbia-TowsonMD  2,780,873   1,150,430   75,830 11.3%
Philadelphia-Camden-WilmingtonPA-NJ-DE-MD  6,047,721   2,449,355   146,701 11.3%
Lakeland-Winter HavenFL  637,691   283,333   13,224 11.2%
Winston-SalemNC  654,589   291,225   14,662 11.2%
TulsaOK  970,603   421,536   20,562 11.0%
ColumbusOH  1,995,004   839,488   46,622 11.0%
ChattanoogaTN-GA  544,522   238,504   10,597 10.8%
Oklahoma CityOK  1,337,075   557,461   28,335 10.7%
Greensboro-High PointNC  746,301   328,431   13,425 10.7%
Las Vegas-Henderson-ParadiseNV  2,070,153   864,164   49,199 10.5%
Allentown-Bethlehem-EastonPA-NJ  830,737   344,453   18,754 10.5%
Grand Rapids-WyomingMI  1,028,173   408,968   23,029 10.4%
JacksonvilleFL  1,424,097   616,472   32,610 10.3%
JacksonMS  578,095   237,698   1,779 10.2%
KnoxvilleTN  857,111   387,109   17,424 10.1%
PittsburghPA  2,354,926   1,105,969   38,587 10.0%
Omaha-Council BluffsNE-IA  904,834   374,190   19,424 10.0%
McAllen-Edinburg-MissionTX  828,334   261,496   7,040 9.7%
BakersfieldCA  871,337   291,292   15,498 9.6%
Deltona-Daytona Beach-Ormond

Beach

FL  613,723   305,821   14,561 9.4%
Miami-Fort Lauderdale-West Palm BeachFL  5,926,955   2,496,696   108,987 9.4%
Tampa-St. Petersburg-ClearwaterFL  2,927,714   1,376,984   60,142 9.4%
Cape Coral-Fort MyersFL  680,970   377,081   15,304 9.3%
TucsonAZ  1,003,338   450,828   21,041 9.3%
Orlando-Kissimmee-SanfordFL  2,328,508   976,455   44,816 9.2%
LancasterPA  533,110   206,308   10,271 9.2%
MadisonWI  634,269   275,682   10,470 9.1%
El PasoTX  837,073   287,792   11,446 9.0%
North Port-Sarasota-BradentonFL  751,422   410,952   16,188 8.4%
FresnoCA  963,160   323,857   14,004 8.2%
Palm Bay-Melbourne-TitusvilleFL  560,683   272,437   11,653 8.2%
RichmondVA  1,258,158   518,998   19,621 7.9%
AlbuquerqueNM  904,486   380,218   14,747 7.9%
Albany-Schenectady-TroyNY  879,291   397,658   7,877 7.4%
Washington-Arlington-AlexandriaDC-VA-MD-WV  6,011,752   2,303,093   99,287 7.4%
Providence-WarwickRI-MA  1,609,359   693,904   25,211 7.4%
Greenville-Anderson-MauldinSC  862,064   369,921   10,628 7.3%
New York-Newark-Jersey CityNY-NJ-PA  20,031,443   7,874,833   180,481 7.2%
Phoenix-Mesa-ScottsdaleAZ  4,486,153   1,846,867   76,324 7.2%
Charlotte-Concord-GastoniaNC-SC  2,381,152   974,598   35,474 7.2%
RochesterNY  1,082,226   475,070   10,258 6.7%
Charleston-North CharlestonSC  728,271   313,703   9,577 6.7%
Durham-Chapel HillNC  542,399   232,895   5,793 6.6%
Nashville-Davidson--

Murfreesboro--Franklin

TN  1,794,570   733,796   26,977 6.5%
Minneapolis-St. Paul-BloomingtonMN-WI  3,488,436   1,414,179   42,667 6.5%
Boise CityID  663,680   256,399   9,657 6.1%
Provo-OremUT  574,684   162,263   6,201 5.8%
Spokane-Spokane ValleyWA  542,604   236,197   6,584 5.5%
Stockton-LodiCA  714,860   237,752   7,573 5.5%
Riverside-San Bernardino-OntarioCA  4,430,646   1,528,742   48,226 5.5%
Buffalo-Cheektowaga-Niagara FallsNY  1,135,503   520,523   10,157 5.3%
ModestoCA  530,561   180,386   5,438 5.3%
Houston-The Woodlands-Sugar LandTX  6,482,592   2,448,566   53,988 4.9%
Sacramento--Roseville--Arden-ArcadeCA  2,242,542   885,251   24,503 4.7%
Ogden-ClearfieldUT  632,793   212,777   6,000 4.5%
San Antonio-New BraunfelsTX  2,332,345   864,566   17,821 4.4%
RaleighNC  1,243,720   498,384   11,416 4.4%
Dallas-Fort Worth-ArlingtonTX  6,957,123   2,650,896   55,270 4.4%
Austin-Round RockTX  1,942,615   764,989   16,053 4.4%
Urban HonoluluHI  986,999   342,982   6,370 3.8%
Colorado SpringsCO  688,643   278,294   6,542 3.7%
San Diego-CarlsbadCA  3,253,356   1,187,644   21,546 3.4%
Oxnard-Thousand Oaks-VenturaCA  843,110   284,759   5,898 3.3%
Portland-Vancouver-HillsboroOR-WA  2,351,319   950,203   17,268 3.2%
Salt Lake CityUT  1,154,504   397,381   7,424 3.1%
Los Angeles-Long Beach-AnaheimCA  13,189,366   4,562,239   68,323 3.1%
Seattle-Tacoma-BellevueWA  3,671,095   1,513,374   27,152 3.0%
Denver-Aurora-LakewoodCO  2,752,056   1,118,261   20,431 3.0%
San Francisco-Oakland-HaywardCA  4,577,530   1,772,411   21,949 2.4%
San Jose-Sunnyvale-Santa ClaraCA  1,943,107   670,044   4,184 1.1%
Source: ATTOM Data Solutions

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