States with the highest percent of people behind on their mortgages
Stressa.com, March, 2022 (excerpts)
…The share of U.S. mortgage holders who reported being behind on mortgage payments during the pandemic reached a peak of nearly 12% in December 2020, according to the U.S. Census Bureau’s Household Pulse Survey. At that time, the U.S. was enduring another wave of COVID-19 that brought economic disruption to jobs and businesses. Since then, with vaccines allowing people to work more safely and minimizing further disruption to business operations, the percentage of mortgage holders behind on payments has declined to about 7%—an improved figure, but one that still represents more than 6 million American households….
Challenges with mortgage payments and the associated pressures on household finances look different across the country. Some of the states with the highest percentages of people behind on mortgage payments are also those with lower incomes, like Mississippi, Alabama, and Louisiana. In these locations, lower-income homeowners may not have the savings or financial resources to keep up with payments. But some states with higher incomes also have high shares of people reporting that they are behind on mortgage payments. In these states, like New Jersey, Hawaii, and California, housing costs are higher, which may increase the financial difficulty for homeowners in case of lost income….
Mortgage holders behind on their payments: 9.6%
Mortgage holders lacking confidence in ability to pay: 25.3%
Total mortgage holders behind on their payments: 33,234
Total mortgage holders lacking confidence in ability to pay: 89,657
Median household income: $86,391
Poverty rate: 8.9%
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KHON: Hawaii ranked 8th for states behind on their mortgage