50 Cities With the Highest Mortgage Balances in 2025 — 23 Are in California
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.
1. Golden Oak, Florida
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Average mortgage balance: $3,627,594
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Average home value: See editor’s note
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2. Gulf Stream, Florida
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Average mortgage balance: $3,206,007
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Average home value: $2,557,915
3. Golden Beach, Florida
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Average mortgage balance: $2,969,951
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Average home value: $7,323,510
4. Captiva, Florida
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Average mortgage balance: $2,620,156
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Average home value: $1,204,699
5. Atlantis, Florida
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Average mortgage balance: $2,585,199
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Average home value: $624,700
6. Montecito, California
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Average mortgage balance: $2,487,787
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Average home value: $5,207,186
7. Hidden Hills, California
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Average mortgage balance: $2,149,578
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Average home value: $4,997,562
8. Atherton, California
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Average mortgage balance: $2,137,851
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Average home value: $7,543,077
9. Hunts Point, Washington
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Average mortgage balance: $2,016,164
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Average home value: $8,256,826
10. Sagaponack, New York
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Average mortgage balance: $1,977,857
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Average home value: $7,355,433
11. Bal Harbour, Florida
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Average mortgage balance: $1,885,057
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Average home value: $1,891,500
12. Rollingwood, Texas
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Average mortgage balance: $1,820,562
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Average home value: $2,204,098
13. Palm Beach, Florida
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Average mortgage balance: $1,805,838
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Average home value: $2,046,348
14. Pacific Palisades, California
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Average mortgage balance: $1,716,991
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Average home value: $3,152,175
15. Sands Point, New York
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Average mortgage balance: $1,714,070
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Average home value: $3,060,726
16. Clyde Hill, Washington
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Average mortgage balance: $1,703,147
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Average home value: $4,068,665
17. Mountain Village, Colorado
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Average mortgage balance: $1,658,100
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Average home value: $2,043,443
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