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West Virginia Leads in Mortgage-Free Homeownership Rates

1/24/2025

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Summary

Story summary

Nationwide, 27.7% of homeowners under 65 own their homes outright, with West Virginia at 41.1% leading.
Maryland has the lowest rate of mortgage-free homeowners at 18.4%, followed by high-cost states like Colorado and Massachusetts.
Homeowners with mortgages report higher median home values of $360,000 and incomes of $121,000, compared to $250,000 and $85,000 for those without mortgages.

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Story summary

Nationwide, 27.7% of homeowners under 65 own their homes outright, with West Virginia at 41.1% leading.
Maryland has the lowest rate of mortgage-free homeowners at 18.4%, followed by high-cost states like Colorado and Massachusetts.
Homeowners with mortgages report higher median home values of $360,000 and incomes of $121,000, compared to $250,000 and $85,000 for those without mortgages.