Core Insights - The average mortgage is significantly increasing, with 67 cities now having an average mortgage of $1 million or more, up from 47 in 2024 and 23 in 2023 [1] - California is the dominant state in this trend, accounting for almost half of the top 50 cities with the highest mortgage balances, while Florida also features prominently [1][2] Summary by Category Mortgage Trends - The average mortgage balance in the top cities is notably high, with specific examples including Golden Oak, Florida, with an average mortgage balance of $3,627,594 [4] - The increase in high mortgage balances reflects broader economic trends affecting housing affordability across the U.S. [1] Geographic Distribution - The top cities with the highest mortgage balances are concentrated in California and Florida, with California cities like Montecito and Atherton appearing frequently in the rankings [3][5] - Florida also has several high-ranking locations, including Gulf Stream and Golden Beach, indicating a regional trend in high mortgage balances [3][5] Specific Data Points - Average mortgage balances in various cities include: - Golden Oak, Florida: $3,627,594 - Gulf Stream, Florida: $3,206,007 - Montecito, California: $2,969,951 - Hidden Hills, California: $2,620,156 [4][6] - The average home values in these areas are also substantial, with some exceeding $7 million [4][6]