Brought to you in part by
KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
 Real Estate
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.
neighbor_home.jpg

21 percent of Seattle homeowners mortgage-free

January 14, 2013 @ 9:09 am (Updated: 6:01 am - 1/15/13 )

Twenty-one million Americans - or nearly 30 percent of homeowners - are mortgage-free, according to data from Seattle-based Zillow.

Despite the slump in the housing market the last five years, the number of homeowners without a mortgage in the third quarter of 2012 was about the same as it was in 2000.

Markets with a higher median age and lower median home price tended to have the highest number of homeowners who are mortgage-free.

Among the nation's 30 largest metro areas included in the study Pittsburgh (38.6 percent), Tampa (33.2 percent), New York (29.7 percent), Cleveland (29.4 percent) and Miami (28.9 percent) had the highest percentage of free-and-clear homeowners. Washington, D.C. (15.5 percent), Atlanta (17.7 percent), Las Vegas (18.3 percent), Denver (18.5 percent) and Charlotte (20 percent) had the lowest percentage.

Seattle checked in at 21 percent, slightly lower than both San Francisco (21.8 percent) and San Diego (21.5).

More Real Estate News

MyNorthwest.com - Purpose of Comments statement
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.

Comments (4)


  • Add A Comment

  • zounds wrote...
    Best thing I ever did
    January 14, 2013 8:49 am
    A very small payment paid off over 20 years ago. Stayed in the same house, remodeled and updated it as the money became available, cash, not credit.

    Now I have a beautiful small house in a wonderful location. It enabled me to retire VERY early.

    I laugh at the McMansions.

    Look at me! Look at me! Except the house next door is very close to yours.

    What is there to look at?

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Drool wrote...
    3 Years Left
    January 14, 2013 2:34 pm
    ...and mine's paid for. I think I'll buy another.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • maplefish wrote...
    Yeah Baby!!!
    January 14, 2013 10:07 pm
    Did it 10 years ago....WooooHooooo!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • murr wrote...
    Nice Nice Nice
    January 17, 2013 1:57 pm
    To see people really do pay houses off. Ohh I so like to read this kind of stuff. Paid off and living within my means. (budget) 4 years @ 996 per month.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }