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.

Find Out: What Salary Single People Need To Live Comfortably in 100 Major US Cities

Read Next: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too

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.

• Average mortgage balance: $3,627,594

• Average home value: See editor’s note

Check Out: Salary Needed To Achieve the American Dream in the 50 Largest Cities

• Average mortgage balance: $3,206,007

• Average home value: $2,557,915

• Average mortgage balance: $2,969,951

• Average home value: $7,323,510

• Average mortgage balance: $2,620,156

• Average home value: $1,204,699

• Average mortgage balance: $2,585,199

• Average home value: $624,700

• Average mortgage balance: $2,487,787

• Average home value: $5,207,186

• Average mortgage balance: $2,149,578

• Average home value: $4,997,562

• Average mortgage balance: $2,137,851

• Average home value: $7,543,077

• Average mortgage balance: $2,016,164

• Average home value: $8,256,826

• Average mortgage balance: $1,977,857

• Average home value: $7,355,433

• Average mortgage balance: $1,885,057

• Average home value: $1,891,500

• Average mortgage balance: $1,820,562

• Average home value: $2,204,098

• Average mortgage balance: $1,805,838

• Average home value: $2,046,348

• Average mortgage balance: $1,716,991

• Average home value: $3,152,175

• Average mortgage balance: $1,714,070

• Average home value: $3,060,726

• Average mortgage balance: $1,703,147

• Average home value: $4,068,665

• Average mortgage balance: $1,658,100

• Average home value: $2,043,443

• Average mortgage balance: $1,632,675

• Average home value: $3,783,088

• Average mortgage balance: $1,591,382

• Average home value: $5,674,462

• Average mortgage balance: $1,581,734

• Average home value: $3,028,205

• Average mortgage balance: $1,546,637

• Average home value: $5,297,402

• Average mortgage balance: $1,531,787

• Average home value: $3,013,707

• Average mortgage balance: $1,494,513

• Average home value: $3,952,886

• Average mortgage balance: $1,439,785

• Average home value: $4,046,015

• Average mortgage balance: $1,432,504

• Average home value: $3,185,448

• Average mortgage balance: $1,427,803

• Average home value: $2,715,465

• Average mortgage balance: $1,405,440

• Average home value: $3,978,968

• Average mortgage balance: $1,394,884

• Average home value: $4,154,680

• Average mortgage balance: $1,375,108

• Average home value: $4,209,975

• Average mortgage balance: $1,340,276

• Average home value: $4,337,154

• Average mortgage balance: $1,325,656

• Average home value: $2,846,109

• Average mortgage balance: $1,310,153

• Average home value: $1,130,077

• Average mortgage balance: $1,309,353

• Average home value: $4,239,471

• Average mortgage balance: $1,284,442

• Average home value: $3,029,768

• Average mortgage balance: $1,282,110

• Average home value: $2,591,524

• Average mortgage balance: $1,264,207

• Average home value: $3,182,704

• Average mortgage balance: $1,257,752

• Average home value: $2,722,692

• Average mortgage balance: $1,256,154

• Average home value: $4,003,076

• Average mortgage balance: $1,233,851

• Average home value: $3,063,689

• Average mortgage balance: $1,223,760

• Average home value: See editor’s note

• Average mortgage balance: $1,222,458

• Average home value: $2,807,550

• Average mortgage balance: $1,214,482

• Average home value: $3,220,094

• Average mortgage balance: $1,202,937

• Average home value: See editor’s note

• Average mortgage balance: $1,184,599

• Average home value: $1,708,185

• Average mortgage balance: $1,160,571

• Average home value: $3,420,704

• Average mortgage balance: $1,158,228

• Average home value: $4,573,488

• Average mortgage balance: $1,155,137

• Average home value: $2,124,027

• Average mortgage balance: $1,150,690

• Average home value: $3,207,511

• Average mortgage balance: $1,146,044

• Average home value: $2,371,680

• Average mortgage balance: $1,123,867

• Average home value: See editor’s note

Editor’s note: Some entries are small private communities, villages or neighborhoods within larger areas, so a single average home value may not accurately represent the area. Average home values sourced from Zillow.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 50 Cities With the Highest Mortgage Balances in 2025 — 23 Are in California