Analysis: 48 percent of mortgages in Elk County considered ‘underwater’


Among Pennsylvania counties, Elk, Fulton and Cambria had the highest percentage of property owners with mortgages who owe at least 25 percent more on their loans than their property is worth, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.

In Elk County, 48 percent of all properties with a mortgage were considered “seriously underwater.” The county with the second-highest rate was Fulton (46 percent), followed by Cambria (36 percent). The analysis is based on a home’s estimated market value.

In Pennsylvania, owners of 285,236 properties with mortgages owe at least 25 percent more on their loans than their property is worth. The state ranks 17th in the U.S., with 12.8 percent of all properties with a mortgage considered “seriously underwater.”

In this analysis, only those counties where sufficient mortgage data was available were ranked.

Counties with highest rates of underwater mortgages

CountyPopulationHousing Units Total Seriously Underwater Percent Seriously Underwater

Elk31,11117,5361,73548%
Fulton14,6537,11240546%
Cambria137,76265,21599036%
Susquehanna41,83223,00172235%
Clarion38,93920,03441735%
Somerset76,20137,9533,15335%
Schuylkill145,50368,9548,37434%
Pike56,21038,5063,15030%
Venango53,46027,3001,93630%
Mercer114,59851,6044,53429%
Northumberland93,59044,9303,32128%
Clinton39,53618,9851,16528%
Monroe167,12680,67510,34627%
Huntingdon45,84422,3911,11527%
Jefferson44,57522,3921,53026%
Potter17,23912,83241825%
Bedford48,85224,0291,29025%
Lackawanna213,00697,4494,65824%
Lawrence88,52840,7233,38823%
Fayette134,22962,7983,34922%
Indiana87,49138,4501,94822%
Greene37,66916,46944921%
Tioga42,03121,44785821%
Cumberland243,838102,7726,72321%
Mckean42,60921,0211,20721%
Luzerne318,917148,1549,25021%
Clearfield81,17038,6271,85321%
Bradford61,80830,1071,41120%
Carbon64,33034,3871,19220%
Armstrong67,51232,4271,14220%
Mifflin46,58521,53749820%
Crawford87,02744,3861,42620%
Snyder40,24616,14171219%
Westmoreland359,377168,22511,37418%
Montour18,4048,04852218%
Columbia66,77229,5961,19017%
Union45,17817,0891,00016%
Beaver169,20578,3045,07416%
Wayne51,30731,87482216%
Adams101,75941,3442,41016%
Lycoming116,31352,6442,77415%
Dauphin271,962121,8898,46615%
Delaware562,316221,96920,36515%
Philadelphia1,559,938671,12535,05315%
Juniata24,81110,98734514%
Sullivan6,3026,29711814%
Wyoming27,97513,32614714%
Erie279,133119,9317,16314%
Franklin152,70764,1782,08013%
Berks414,097164,85311,55713%
Perry45,64720,48684412%
York440,604180,6188,78710%
Butler185,97480,1683,03810%
Northampton300,520121,2076,89410%
Centre159,17864,9381,9589%
Lancaster533,110206,30810,2719%
Lehigh358,792143,5386,3899%
Montgomery815,876327,78515,6238%
Lebanon136,95056,1761,2698%
Bucks626,220246,86912,0367%
Chester512,028195,7208,2827%
Washington208,26993,8971,7717%
Allegheny1,230,360590,15012,8396%
Source: ATTOM Data Solutions

Want to get notified whenever we write about ATTOM Data Solutions ?

Sign-up Next time we write about ATTOM Data Solutions, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

ATTOM Data Solutions

More News

Metro Business Network