ZIP Codes With the Lowest Mortgage Debt

Couple embracing each other as they look at their new house outside from their front lawn.

While the housing market has seen steady growth since the Great Recession of 2008, some pockets of the U.S. carry low mortgage balances, according to recent Experian data on home mortgage levels. In 22 out of the 25 areas with the lowest mortgage balances nationwide, the average mortgage debt is 75% lower than the national average, which in the first quarter (Q1) of 2019 was $202,284.

The average sale prices of homes in all of these areas are also significantly lower than the national average, which for a new home in 2019 was $377,200, according to the U.S. Census Bureau.

Meanwhile, incomes in these ZIP codes are consistently below the national average, according to Experian data. The highest estimated income among these areas was $53,188 in Q1 2019—more than $25,000 less than the national average of $79,622.

Experian reviewed consumer credit data from Q1 2019 to identify the ZIP codes with the lowest mortgage balances. Read on to see the average incomes, FICO® Scores and mortgage balances for these ZIP codes.

25 ZIP Codes With the Lowest Mortgage Balances
ZIP CodeAverage Mortgage BalanceAverage Estimated IncomeAverage FICO® Score

Toledo, OH


Detroit (Winter Halter)


Buffalo, NY


Flint, MI


Columbus, OH



(North Philadelphia)


Memphis, TN



(North Philadelphia)


Memphis, TN




Rochester, NY


Buffalo, NY


Philadelphia (Tioga)


Toledo, OH








McKeesport, PA




Saginaw, MI


Syracuse, NY


Tulsa, OK


Dayton, OH


Macon, GA


San Antonio


*Source: Experian Q1 2019 data

FICO® Scores in ZIP Codes With Low Mortgage Balances

While the ZIP codes with the highest mortgage balances typically had above average credit scores in Q1 2019, among the areas with the lowest mortgage balances, average FICO® Scores were consistently below the national average.

The highest average FICO® Score among the ZIP codes with the lowest mortgage balances listed above was 652—which is 51 points lower than the national average of 703 in Q1 2019. The lowest average FICO® Score among the ZIPs with low balances was 586.

Methodology: The analysis results provided are based on an Experian-created statistically relevant aggregate sampling of our consumer credit database that may include use of the FICO® Score 8 version. Different sampling parameters may generate different findings compared with other similar analysis. Analyzed credit data did not contain personal identification information. Metro areas group counties and cities into specific geographic areas for population censuses and compilations of related statistical data.

FICO® is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.

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