Beverly Hills, Santa Ana, Bell Gardens Among Cities With Highest Mortgage Debts
LOS ANGELES (CBSLA) - Homeowners in Beverly Hills and several other cities in Southern California are among those with the most unsustainable mortgage debts in America, according to a new survey.
WalletHub's "2021 Home Over-leverage Report" compared the median mortgage debt to the median income and median home value in more than 2,500 U.S. cities and found Bell Gardens was the third-most over-leveraged city with an average 955% mortgage debt-to-income ratio.
Other top-leveraged cities include Santa Ana (874%), Beverly Hills (887%), and Huntington Park (782%).
No California cities made the top 1% of least over-leveraged areas in the U.S.
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