How Much Do Americans Owe on Their Mortgages?

A mortgage is considered ” good debt ,” meaning it’s a debt that could be considered an investment in yourself. By paying this debt, you’re securing a place to live.

That’s not to say that a mortgage isn’t serious. According to credit bureau Experian, the average amount of money owed on a mortgage in the US is over $157,000, ranging from an average of about $93,000 in West Virginia to an intimidating $275,000 in Washington, D.C.

Using data provided to Business Insider by Experian’s Decision Analytics group, we made a map showing the average mortgage balance — how much is still owed on existing mortgages — per account in each state:

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Here’s a table showing the average balance for each state, along with the average for the US as a whole:

© Provided by Business Insider

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