TIME cities

Here Are The U.S. Cities With The Most Underwater Homes

Many homeowners are suffering with mortgage debts worth more than their home itself

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U.S. homeowners had some good news this year when it was announced that the number of homes that are considered ‘underwater’ has declined by almost half — but the luck has not been spread evenly across the country.

For a home to be considered ‘underwater,’ the purchase loan has a higher value than the current market rate of the home itself. And whereas rising home prices are helping some homeowners get back in the black, some cities still have an underwater rate higher than the nationwide average.

Las Vegas tops out the list with 31.8% of homes underwater, check out the video above to see the rest.

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