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.
