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.
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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.
1. Golden Oak, Florida
- 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
2. Gulf Stream, Florida
- Average mortgage balance: $3,206,007
- Average home value: $2,557,915
3. Golden Beach, Florida
- Average mortgage balance: $2,969,951
- Average home value: $7,323,510
4. Captiva, Florida
- Average mortgage balance: $2,620,156
- Average home value: $1,204,699
5. Atlantis, Florida
- Average mortgage balance: $2,585,199
- Average home value: $624,700
6. Montecito, California
- Average mortgage balance: $2,487,787
- Average home value: $5,207,186
7. Hidden Hills, California
- Average mortgage balance: $2,149,578
- Average home value: $4,997,562
8. Atherton, California
- Average mortgage balance: $2,137,851
- Average home value: $7,543,077
9. Hunts Point, Washington
- Average mortgage balance: $2,016,164
- Average home value: $8,256,826
10. Sagaponack, New York
- Average mortgage balance: $1,977,857
- Average home value: $7,355,433
11. Bal Harbour, Florida
- Average mortgage balance: $1,885,057
- Average home value: $1,891,500
12. Rollingwood, Texas
- Average mortgage balance: $1,820,562
- Average home value: $2,204,098
13. Palm Beach, Florida
- Average mortgage balance: $1,805,838
- Average home value: $2,046,348
14. Pacific Palisades, California
- Average mortgage balance: $1,716,991
- Average home value: $3,152,175
15. Sands Point, New York
- Average mortgage balance: $1,714,070
- Average home value: $3,060,726
16. Clyde Hill, Washington
- Average mortgage balance: $1,703,147
- Average home value: $4,068,665
17. Mountain Village, Colorado
- Average mortgage balance: $1,658,100
- Average home value: $2,043,443
18. Ross, California
- Average mortgage balance: $1,632,675
- Average home value: $3,783,088
19. Los Altos Hills, California
- Average mortgage balance: $1,591,382
- Average home value: $5,674,462
20. Cherry Hills Village, Colorado
- Average mortgage balance: $1,581,734
- Average home value: $3,028,205
21. Newport Coast, California
- Average mortgage balance: $1,546,637
- Average home value: $5,297,402
22. Diablo, California
- Average mortgage balance: $1,531,787
- Average home value: $3,013,707
23. Corona Del Mar, California
- Average mortgage balance: $1,494,513
- Average home value: $3,952,886
24. Monte Sereno, California
- Average mortgage balance: $1,439,785
- Average home value: $4,046,015
25. Malibu, California
- Average mortgage balance: $1,432,504
- Average home value: $3,185,448
26. Old Westbury, New York
- Average mortgage balance: $1,427,803
- Average home value: $2,715,465
27. Wainscott, New York
- Average mortgage balance: $1,405,440
- Average home value: $3,978,968
28. Rancho Santa Fe, California
- Average mortgage balance: $1,394,884
- Average home value: $4,154,680
29. Sullivans Island, South Carolina
- Average mortgage balance: $1,375,108
- Average home value: $4,209,975
30. Los Altos, California
- Average mortgage balance: $1,340,276
- Average home value: $4,337,154
31. Tiburon, California
- Average mortgage balance: $1,325,656
- Average home value: $2,846,109
32. Upperville, Virginia
- Average mortgage balance: $1,310,153
- Average home value: $1,130,077
33. Yarrow Point, Washington
- Average mortgage balance: $1,309,353
- Average home value: $4,239,471
34. Rolling Hills, California
- Average mortgage balance: $1,284,442
- Average home value: $3,029,768
35. Kentfield, California
- Average mortgage balance: $1,282,110
- Average home value: $2,591,524
36. Kings Point, New York
- Average mortgage balance: $1,264,207
- Average home value: $3,182,704
37. Glenbrook, Nevada
- Average mortgage balance: $1,257,752
- Average home value: $2,722,692
38. Portola Valley, California
- Average mortgage balance: $1,256,154
- Average home value: $4,003,076
39. Manhattan Beach, California
- Average mortgage balance: $1,233,851
- Average home value: $3,063,689
40. Vernon, New Jersey
- Average mortgage balance: $1,223,760
- Average home value: See editor’s note
41. Beaux Arts, Washington
- Average mortgage balance: $1,222,458
- Average home value: $2,807,550
42. Paradise Valley, Arizona
- Average mortgage balance: $1,214,482
- Average home value: $3,220,094
43. Belvedere Tiburon, California
- Average mortgage balance: $1,202,937
- Average home value: See editor’s note
44. Calabasas Hills, California
- Average mortgage balance: $1,184,599
- Average home value: $1,708,185
45. Newport Beach, California
- Average mortgage balance: $1,160,571
- Average home value: $3,420,704
46. Water Mill, New York
- Average mortgage balance: $1,158,228
- Average home value: $4,573,488
47. Old Greenwich, Connecticut
- Average mortgage balance: $1,155,137
- Average home value: $2,124,027
48. Stinson Beach, California
- Average mortgage balance: $1,150,690
- Average home value: $3,207,511
49. La Cañada Flintridge, California
- Average mortgage balance: $1,146,044
- Average home value: $2,371,680
50. Sea Ranch Lakes, Florida
- 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.
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This article originally appeared on GOBankingRates.com: 50 Cities With the Highest Mortgage Balances in 2025 — 23 Are in California
