If you are looking for markets where the a good percentage of the homeowners are overextended, we have the list for you.

These are the markets that have the highest percentage of homeowners paying more than 50 percent of their incomes on housing costs. The combination of rising property values, rents, mortgage interest rates, property taxes, and insurance are putting these communities at risk.

Of course, you could also look at it that these communities line very nicely with communities that saw the greatest appreciations over the past 5 years. So if you were to chart the demographics there is this huge bubble of people who got priced out of the market and are in bad deals and another large group that is sitting on some amazing appreciation.

And I bet there is a great deal of discord between the two groups. Some are struggling and others are holding onto newly created wealth. Interesting times we are in.

Top 10 US Cities With Overextended Homeowners

(Percentage is households paying 50 percent or more of their income on housing costs)

1. Miami-Fort Lauderdale-Miami Beach, FL 26.40%
2. Los Angeles-Long Beach-Santa Ana, CA 24.10%
3. Modesto, CA 24.00%
4. Riverside-San Bernardino-Ontario, CA 23.70%
5. San Francisco-Oakland-Fremont, CA 22.60%
6. Stockton, CA 22.50%
7. San Diego-Carlsbad-San Marcos, CA 22.50%
8. New York-Northern New Jersey-Long Island, NY-NJ-PA 21.10%
9. San Jose-Sunnyvale-Santa Clara, CA 20.80%
10. Oxnard-Thousand Oaks-Ventura, CA 19.90%

(Percentage is households paying 50 percent or more of their income on housing costs)

via USA Today

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