COLORADO NEWS

Denver ranks high on list where it’s hard to pay off a mortgage

Sep 24, 2024, 12:05 PM | Updated: 12:05 pm

Denver ranks high on list where it’s hard to pay off a mortgage...

(Photo by Mario Tama/Getty Images)

(Photo by Mario Tama/Getty Images)

Denver ranks high on list where it’s hard to pay off a mortgage.

You make your monthly payments but the balance never seems to go down much. Well, when it comes to the ease of paying off a home mortgage, location matters.

Personal finance siteSmartAsset did a survey of the 40 largest metro cities in the U.S. to determine which cities are the easiest and hardest to succeed in paying off a mortgage.

The site also analyzed each city’s income-to-housing payment ratio.

According to the Site, the easiest cities to pay off a mortgage, with ratio, are:

  • Pittsburgh, Pennsylvania: 16.36%
  • Houston, Texas: 17.09%
  • Detroit, Michigan: 17.54%
  • Cleveland, Ohio: 17.60%
  • San Antonio, Texas: 17.67%
  • Louis, Missouri: 17.94%
  • Milwaukee, Wisconsin: 17.98%
  • Philadelphia, Pennsylvania: 18.47%
  • Cincinnati, Ohio: 18.73%
  • Austin, Texas: 19.12%

Meanwhile, the hardest cities to pay off a mortgage with more than 29% ratio are:

  • San Jose, California
  • San Diego, California
  • Los Angeles, California
  • San Francisco, California
  • Riverside, California
  • Portland, Oregon
  • Denver, Colorado
  • Seattle, Washington
  • Sacramento, California
  • Las Vegas, Nevada

You can view SmartAsset’s full list here.

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Denver ranks high on list where it’s hard to pay off a mortgage