US Mortgage Debt Hits $13.2 Trillion, Average Household Owes Nearly $109,000

Authored by Mary Prenon via The Epoch Times,

America’s mortgage debt continues to escalate, hitting the $13.2 trillion mark, according to an April 30 WalletHub report.

The personal finance website and app indicated that the average U.S. household owes nearly $109,000 in outstanding mortgage balances and that mortgage debt has remained on an upward trend over the past few years.

“Mortgage rates are the highest they’ve been in around a decade, and home prices have seen a meteoric rise in recent years as well,” WalletHub analyst John Kiernan said in the report.

“Even small increases in home prices can lead to thousands of dollars in extra mortgage interest costs for homeowners, so it’s important to choose wisely when deciding where and when to buy a house.”

Comparing the 50 states based on proprietary data from the third quarter of 2025 to the fourth quarter, WalletHub found that the northernmost state, Alaska, added the most mortgage debt during that time frame, in percentage terms. The average balance there rose by 2.52 percent to $248,013.

Meanwhile, Alaska residents still carry significant mortgage balances in general, with average monthly payments of $2,078. Homeowners in Alaska are also saddled with relatively high property taxes. According to Redfin, the current median list price in Alaska is $465,000.

Delaware ranked second for the most added mortgage debt during the same period, showing a 2.51 percent increase to $210,542 for the average balance. A typical homeowner in Delaware spends nearly $1,689 per month in mortgage costs. Redfin lists the median home price in the state at $460,000.

The third-highest state for added mortgage debt goes to Maine, with average balances rising by 1.98 percent to an outstanding balance of $209,936. Average homeowners there pay about $1,723 each month toward their mortgage. Maine’s median home price stands at $390,300, as per Redfin.

Nevada and California complete the top five states with the highest mortgage debt increases. South Carolina, Florida, New Hampshire, New Jersey, and Texas round out the top 10.

On the opposite side, the report indicates that  mortgage debt decreased in 19 states during the fourth quarter of 2025. Vermont ranked the lowest in the nation for mortgage debt, followed by North Dakota, West Virginia, New Mexico, and Kansas.

Earlier this year, WalletHub reported America’s total household debt, including mortgage payments, car loans, credit card debt, and other expenses, at $18.78 trillion, with an average debt per household at $155,594.

Kiernan noted that since mortgage rates have recently become a bit more favorable, those currently paying higher rates could consider refinancing as a way of lowering monthly costs. As of April 23, Freddie Mac reported the average 30-year fixed mortgage rate at 6.23 percent.

Other money-saving tips include making extra mortgage payments when possible to reduce total interest costs or switching to biweekly payments.

“This results in 26 half-payments per year instead of the usual 12,” Kiernan noted. “Over time, this can shave years off your mortgage term and save you money on interest.”

Finally, homeowners could consider putting unexpected windfalls such as tax refunds or work bonuses toward the mortgage payment, shortening the overall repayment period.