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Databank: St. Louis’ underwater mortgage index improves, still high

Despite the decline, St. Louis still has a high underwater mortgage rate in a specific category
Credit: SLBJ

ST. LOUIS — The percentage of St. Louis homes considered seriously underwater, per a report, improved in 2020, though the area still ranks high in the metric compared with the rest of the U.S.

According to property database ATTOM Data Solutions, the St. Louis MSA had 678,981 outstanding mortgages in the fourth quarter of 2020. Of those mortgages, 54,130, or 8% were considered seriously underwater. That number dropped from 10.2% from the fourth quarter of 2019.

Despite the decline, St. Louis still has a high underwater mortgage rate in a specific category, the study said.

“Among 8,691 U.S. ZIP codes that had at least 2,000 properties with mortgages in the fourth quarter of 2020, there were 81 ZIP codes where at least a quarter of all properties with a mortgage were seriously underwater,” ATTOM’s report said. “The largest number of those ZIP codes were in Cleveland, Ohio, and St. Louis, Missouri.”

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