MONEY Housing Market

The Most Underwater Homes — That Aren’t in CA, FL, AZ or NV

It's not just the states hit hardest by the housing bust where homes are underwater, though it may seem that way from the stats.

It’s no surprise that lots of homeowners in the states hit hardest by the collapse of housing prices – California, Florida, Arizona and Nevada – don’t yet have enough equity to pay off their mortgage. That’s despite the healthy increase in home prices.

See our story: Where Are the Most Underwater Homes

Nine of the top 10 most underwater cities (using the largest 170 metros) are in Florida, with Las Vegas rounding it out, according to research firm CoreLogic. Finally, we get to Flint, Mich.

So, here, just to mix it up a bit, we give you the most underwater cities that are NOT in what’s known among real estate geeks as CANFLAZ:

City % Underwater
Flint, Mich. 27.5%
Detroit 26.9%
Elgin, Ill. 24.4%
Toledo 24.1%
Cleveland 23.9%
Chicago 22.4%
Memphis 21.2%
Akron 21.2%
Cincinnati 20.8%
Lansing, Mich. 20.3%
Atlantic City 20.3%
Dayton 20.1%
Atlanta 19.5%
Lake County, Ill. 19.3%
Savannah 19.2%

Source: CoreLogic

Your browser, Internet Explorer 8 or below, is out of date. It has known security flaws and may not display all features of this and other websites.

Learn how to update your browser