Maryland State Wire

Among Maryland counties, Somerset had the highest percentage of property owners with mortgages who owe at least 25 percent more on their loans than their property is worth, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.

In Somerset County, 35 percent of all properties with a mortgage were considered “seriously underwater.”  The counties with the next-highest rate were Allegany and Dorchester, each with 24 percent. The analysis is based on a home’s estimated market value.

In Maryland, owners of 163,237 properties with mortgages owe at least 25 percent more on their loans than their property is worth. The state ranks 20th in the U.S., with 11.3 percent of all properties with a mortgage considered “seriously underwater.”

Counties with highest rates of underwater mortgages

County	Population	Housing Units	Total Seriously Underwater	Percent Seriously Underwater
Somerset	25,899	11,244	1,478	35%
Allegany	73,060	33,211	3,637	24%
Dorchester	32,451	16,700	1,784	24%
Baltimore City	621,000	296,923	27,842	21%
Wicomico	101,527	41,911	4,226	20%
Caroline	32,653	13,525	1,443	19%
Washington	149,571	61,199	5,350	17%
Worcester	51,441	55,822	4,694	15%
Cecil	102,175	42,269	3,597	15%
Charles	154,357	58,014	5,973	14%
Kent	19,819	10,667	851	14%
Garrett	29,677	19,080	1,067	13%
Saint Marys	110,675	43,276	3,411	12%
Queen Anne's County	48,712	20,754	1,502	12%
Prince George's County	897,693	330,708	23,174	11%
Talbot	37,668	20,110	1,186	11%
Calvert	90,527	34,613	2,870	10%
Baltimore	825,666	337,031	18,939	10%
Harford	249,776	98,277	6,258	9%
Anne Arundel	559,737	219,319	12,751	9%
Frederick	243,465	93,645	5,786	8%
Carroll	167,535	63,123	3,270	8%
Montgomery	1,026,371	385,485	16,880	7%
Howard	308,447	115,003	5,268	7%

Source: ATTOM Data Solutions