Zillow Reports Sarasota Among Nation's Top Cities for Underwater Homes

SARASOTA – From the country's best beaches, to an art and cuisine hub of the Southeast, Sarasota has made more than its share in terms of lists of distinction. However, it has now been included on a much more ominous one – the 20 worst cities in terms of underwater home mortgages.

Sarasota checked in at number 18 according to Zillow, a leading industry database, who reported the city to have 46.3 percent of its homes holding mortgages greater than their actual value. Florida led all states with nine cities on the list.

16 of the top 20 are from Florida and California combined, but the Southwest logged the most unthinkable statistics, making up th top three with Las Vegas leading the way with a disastrous 80.2 percent of their homes underwater. Phoenix was second at 68.4 percent, while Reno came in third at 64.4 The nationwide number of homes underwater according to Zillo's third quarter report was 23.2 percent.

Florida cities in the top 20

20. Vero Beach     43.4 %
19. Melbourne      43.7 %
18. Sarasota         46.3 %
16. Tampa             46.8 %
14. Jacksonville    48.2 %
10. Ft. Myers           51.6%
9. Port St. Lucie     52 %
8. Lakeland            53.7%
4. Orlando              64.2%

Click here to see a slide show of the entire list.