Report: 28 percent of homes in South Cook suburbs "seriously underwater" on their mortgages

14304 Maryland Avenue in Dolton is currently for sale for $179,900; A report found 68 percent of Dolton homeowners are "seriously underwater" on their mortgages. | Zillow

By LocalLabs News Service

May 15, 2017

Nearly one in three homeowners in Chicago's South Cook County suburbs has a mortgage that's 125 percent or more of their home's value.

That's as of Mar. 31, 2017, according to a report released by Attom Data Solutions, a California-based provider of property data.

A South Cook News analysis of the report found that, across 36 southern Cook County zip codes, 28 percent of homeowners were "seriously underwater," as defined by Attom.

In Dolton, Riverdale, Park Forest, Harvey, Markham, Richton Park, Calumet City and Chicago Heights, at least half of homeowners owe 25 percent more than their home's estimated market value, Attom reports.

In Country Club Hills, Steger, Glenwood, Hazel Crest, Matteson, Blue Island, Lansing, and South Holland, more than 30 percent of homeowners are in major mortgage trouble.

Palos Heights, Tinley Park, Lemont, and Orland Park in southwest Cook County fared best, with "seriously underwater" rates of less than ten percent.

South Cook's suburbs include 841,322 people and 231,982 owner-occupied homes, which represent 69 percent of all South Suburban housing units.

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Underwater mortgages in South Cook County suburbs

Nearly 65,000 homeowners in Cook County's south suburbs are "seriously underwater" on their mortgages. Where do they live?

Zip	Includes	Zip Pop.	Zip Housing Units	# Owner-Occupied Homes	% Owner-Occupied Homes	% seriously underwater	# seriously underwater
60419	Dolton	22,809	8,864	6,673	75.3%	68.2%	4,550
60827	Riverdale	28,677	12,974	5,391	41.6%	67.4%	3,635
60466	Park Forest	22,254	9,405	5,047	53.7%	65.0%	3,279
60426	Harvey	29,693	14,132	7,005	49.6%	63.4%	4,438
60428	Markham	12,308	4,917	3,834	78.0%	56.4%	2,163
60471	Richton Park	14,140	5,903	3,470	58.8%	55.9%	1,939
60409	Calumet City	37,480	16,201	9,023	55.7%	53.9%	4,861
60411	Chicago Heights	58,786	23,933	12,899	53.9%	49.7%	6,413
60478	Country Club Hills	17,183	6,579	5,313	80.8%	42.1%	2,239
60475	Steger	9,620	4,413	3,303	74.8%	38.8%	1,282
60425	Glenwood	9,053	3,775	2,750	72.8%	37.5%	1,032
60429	Hazel Crest	15,799	6,458	4,773	73.9%	36.7%	1,751
60443	Matteson	21,184	8,190	5,672	69.3%	35.5%	2,014
60406	Blue Island	25,294	10,709	4,737	44.2%	34.7%	1,643
60438	Lansing	28,845	12,346	8,426	68.2%	32.1%	2,703
60473	South Holland	22,647	8,027	6,799	84.7%	31.4%	2,138
60415	Chicago Ridge	14,392	5,582	3,247	58.2%	28.2%	915
60803	Alsip	23,133	8,802	5,725	65.0%	23.0%	1,318
60430	Homewood	20,181	8,083	6,548	81.0%	22.8%	1,495
60482	Worth	11,115	4,710	2,934	62.3%	21.0%	616
60422	Flossmoor	9,440	3,651	3,330	91.2%	19.9%	662
60445	Midlothian	26,047	11,158	8,223	73.7%	19.0%	1,561
60459	Burbank	29,119	9,335	7,250	77.7%	15.7%	1,138
60453	Oak Lawn	56,987	22,958	17,733	77.2%	15.6%	2,769
60452	Oak Forest	28,237	10,739	8,053	75.0%	15.1%	1,216
60455	Bridgeview	16,397	5,798	3,457	59.6%	14.8%	513
60457	Hickory Hills	13,933	5,350	3,637	68.0%	14.1%	513
60465	Palos Hills	17,626	7,129	5,434	76.2%	11.7%	634
60477	Tinley Park (Central)	38,296	16,008	12,395	77.4%	11.1%	1,377
60464	Palos Park	9,552	4,079	2,933	71.9%	11.0%	323
60805	Evergreen Park	19,934	7,503	6,518	86.9%	11.0%	716
60463	Palos Heights	14,440	5,835	4,405	75.5%	8.5%	375
60439	Lemont	23,139	8,448	6,837	80.9%	8.3%	570
60462	Orland Park (Central)	39,784	15,866	12,511	78.9%	8.2%	1,029
60467	Orland Park (West/SW)	26,824	9,709	7,831	80.7%	6.7%	523
60487	Tinley Park (West), Orland Hills	26,974	8,700	7,866	90.4%	5.4%	427
	TOTALS	841,322	336,269	231,982	69.0%	27.9%	64,770