Underwater Mortgages

Percentage of Silicon Valley Home Mortgages that Exceed Home Worth

Silicon Valley

Underwater Mortgage Rates in Top and Bottom Three Cities in Silicon Valley
January – June Q1 2011 Q2 2012 % Change
Newark 37% 37% 0%
Gilroy 41% 35% -6%
Union City 26% 25% -1%
Cupertino 5% 4% -2%
Saratoga 4% 3% -2%
Los Altos 3% 2% -1%
Note: Rank based on Q2 2012 figures.
Underwater Mortgages
Q2 2012
Silicon Valley 19%
California 37%
United States 31%

Data Source:

U.S. Census Bureau, American Community Survey


Silicon Valley Institute for Regional Studies

Negative equity, otherwise known as an underwater mortgage is when the market value of a home exceeds the amount due on the mortgage. Underwater mortgage rates are provided by Zillow Real Estate Research, Negative Equity Report. Data is unavailable prior to 2011. The regional Silicon Valley rate was calculated using the Joint Venture zip code-based definition of Silicon Valley. City rankings were calculated using the following cities: Atherton, Belmont, Brisbane, Burlingame, Campbell, Cupertino, Daly City, Foster City, Fremont, Gilroy, Half Moon Bay, La Honda, Lexington Hills, Los Altos, Los Gatos, Menlo Park, Millbrae, Milpitas, Montara, Morgan Hill, Moss Beach, Mountain View, Newark, Pacifica, Palo Alto, Portola Valley, Redwood City, San Bruno, San Carlos, San Gregorio, San Jose, San Martin, San Mateo, Santa Clara, Saratoga, Scotts Valley, South San Francisco, Sunnyvale, Union City.

This chart does not have any footnotes.

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