Which States Have the Most Mortgage-Free Homeowners?

Which States Have the Most Mortgage-Free Owners?

America’s high 10 states for mortgage-free houses

West Virginia’s householders lead the pack with an astonishingly excessive mortgage-free charge of 54%. In actual fact, the Mountain State boasts 3% extra mortgage-free houses than our runner-up, Mississippi.

West Virginia’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

1

518,882

45.94%

54.06%

Enjoyable truth: Pine-Sol was developed in 1929 by Mississippi native Harry Cole.2

One other enjoyable truth: Mississippi has the second-most mortgage-free houses within the nation—and nothing smells higher than a paid-for house.

Mississippi’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

2

748,055

49.11%

50.89%

Louisiana is the primary state in our high ten to drop under the 50% threshold for households with no mortgage debt, however a 47% mortgage-free charge remains to be spectacular.

To place it in perspective, Louisiana’s 536,000 paid-for houses may home your entire inhabitants of Sacramento after which some.3 As Oprah may put it, “You get a home! And also you get a home! And…” You get the image.

Louisiana’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

3

1,132,229

52.69%

47.31%

Though the vast majority of states in our high ten are positioned within the southeastern and midwestern US, the Land of Enchantment represents the West in our fourth spot.

Roughly 46% of owner-occupied houses in New Mexico are paid off.

New Mexico’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

4

521,450

53.63%

46.37%

Bored with bustling cities and noisy neighbors? Effectively, look no additional than North Dakota.

The Roughrider State has the fewest owner-occupied housing models in our high ten, and almost 90% of its land is made up of farmland and ranches.4

Not solely do its residents take pleasure in peace and quiet, however additionally they take pleasure in peace of thoughts: Over 45% of North Dakota’s houses are mortgage free.

North Dakota’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

5

200,554

54.50%

45.50%

It seems Sooners are likely to repay their mortgages sooner somewhat than later.

Greater than 45% of Oklahoma’s houses are owned free and clear. Which means over 400,000 households get to skip their mortgage payments each month.

Oklahoma’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

6

962,483

54.75%

45.25%

There couldn’t be a greater nickname than the Land of Alternative for a state with such a excessive variety of paid-for houses.

Arkansas ranks at quantity seven on our listing with a mortgage-free charge of almost 45%.

Arkansas’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

7

752,399

55.31%

44.69%

South Dakota lands behind Arkansas in our rankings—however simply barely. With a mortgage-free charge of 44.64%, Bob Barker’s house state is just 0.05% shy of nabbing the seventh spot.

Judging by the variety of paid-off houses, we’d definitely say the worth is correct in South Dakota.

South Dakota’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

8

233,092

55.36%

44.64%

Though it comes first whenever you sing the lyrics to “Fifty Nifty United States,” Alabama is ninth on our listing.

Over 43% of Alabama’s owner-occupied houses are owned outright—which implies greater than 547,000 houses within the Coronary heart of Dixie are mortgage-free.

Alabama’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

9

1,253,199

56.35%

43.65%

Florida has by far essentially the most owner-occupied housing models in our high ten. It additionally has essentially the most with no mortgage: a staggering 2.2 million. That’s almost as many paid-for houses as the overall variety of houses in our high three states mixed.

Since our rankings are based mostly on the share of mortgage-free houses in every state, nonetheless, Florida rounds out our high ten.

Florida’s homeownership knowledge

Rank

Proprietor-occupied housing models

Properties with a mortgage (%)

Mortgage-free houses (%)

10

5,010,187

56.88%

43.12%

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