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Average mortgage debt climbs in Phoenix

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Posted at 7:48 AM, Jul 29, 2019
and last updated 2019-07-29 10:48:46-04

The average mortgage debt held by Valley and Arizona residents has risen this year, according to a report from credit bureau Experian.

The average homeowner owed $216,513 on their mortgage in Phoenix during the first quarter of 2019.

That represents a 1.9% year-over-year increase from the same period in 2018, according to Experian, when the average mortgage debt balance in the Valley was $212,384.

Metro Phoenix had the 48th highest average mortgage balance during the first quarter of this year, according to Experian's analysis.

Read more from the Phoenix Business Journal.