Minnesota Mortgage Blog

Forbes magazine recently published its list of cities with the worst homeowners debt and sadly, Minneapolis made the top 10. According to the article, they used U.S. Census data to determine which of the country’s largest 150 housing markets had the highest percentage of outstanding home equity and second loans. Then they combined that data with housing price trends taken from the National Association of Realtors, to gauge which markets are experiencing steep price drops. Forbes estimates that homeowners in these areas might have the hardest time refinancing or staying afloat.

Here are the top 50 cities for worst homeowner debt:
1. Sacramento–Arden- Arcade–Roseville, CA
2. Denver-Aurora, CO
3. San Diego-Carlsbad- San Marcos, CA
4. Minneapolis-St. Paul- Bloomington, MN-WI
5. Washington-Arlington- Alexandria, DC-VA-MD- WV
6. Los Angeles-Long Beach- Santa Ana, CA
7. Boise City-Nampa, ID
8. Colordo Springs, CO
9. Las Vegas-Paradise, NV
10. Madison, WI
11. Reno-Sparks, NV
12. Boulder, CO
13. Seattle-Tacoma-Bellevue, WA
14. Detroit-Warren-Livonia, MI
15. Cincinnati-Middletown, OH-KY-IN
16. Riverside-San Bernardino-Ontario, CA
17. Portland-Vancouver- Beaverton, OR-WA
18. Columbus, OH
19. Richmond, VA
20. Atlanta-Sandy Springs- Marietta, GA
21. Boston-Cambridge- Quincy, MA-NH
22. Green Bay, WI
23. San Francisco-Oakland- Fremont, CA
24. Lexington-Fayette,KY
25. Cleveland-Elyria-Mentor, OH
26. Phoenix-Mesa-Scottsdale, AZ
27. Salt Lake City, UT
28. Raleigh-Cary, NC
29. Worcester, MA
30. Louisville, KY-IN
31. Baltimore-Towson, MD
32. Pittsfield, MA
33. Indianapolis, IN
34. Charlotte-Gastonia- Concord, NC-SC
35. Bridgeport-Stamford- Norwalk, CT
36. Akron, OH
37. Dayton, OH
38. Virginia Beach-Norfolk- Newport News, VA-NC
39. Lansing-E.Lansing, MI
40. Providence-New Bedford- Fall River, RI-MA
41. Appleton, WI
42. Portland-South Portland- Biddeford, ME
43. Durham, NC
44. San Jose-Sunnyvale- Santa Clara, CA
45. Lincoln, NE
46. Allentown-Bethlehem- Easton, PA-NJ
47. Omaha, NE-IA
48. New Haven-Milford, CT
49. Milwaukee-Waukesha- West Allis, WI
50. Orlando, FL