top of page
Dec 18, 2018

Mississippi Has the #2 Most Mortgage-Free Homes in the US

Which states have the most mortgage-free homeowners? Home ownership is one of the marquee features of the American Dream. But how many Americans actually own their homes?

Most house hunters don’t arrive at the closing table with a briefcase full of Benjamins. Nor are they as lucky as that kid from the forgotten ’90s classic Blank Check. Most people need a mortgage—otherwise known as a home loan.

Over 62% of US homes carry a mortgage,1 but some states have a much higher percentage of mortgage-free homes than others. So which states reign supreme as the most mortgage free of all? Using the US Census Bureau’s 2017 American Community Survey, Move.org looked at three factors to determine the rankings:

  • The total number of owner-occupied housing units in each state

  • The percentage of owner-occupied housing units with a mortgage

  • The percentage of owner-occupied housing units without a mortgage

After collecting each state’s percentage of owner-occupied housing units with and without a mortgage, Move.org ranked them from highest to lowest percentage of mortgage-free homes.