Share of Equity-Rich Homes Drops

The share of equity-rich homes has fallen over the last quarter, but even so, equity levels remain at a historic high. According to property data provider ATTOM’s Q1 2025 U.S. Home Equity & Underwater Report, 46.2% of U.S. homes with mortgages were considered equity rich in Q1 2025. In Q4 2024, 47.7% of homes were equity rich. Most states saw similar quarterly decreases, but the equity-rich rate is still higher than last year in 33 states and Washington, D.C.

Annually, the state with the largest increase in the share of equity-rich homes was Connecticut. There, the share of equity-rich homes grew from 42.2% to 48% year-over-year. This was followed by New York and New Jersey, where home equity grew from 49.1% to 54.1% and 47.1% to 52.1%, respectively.

The biggest annual decreases in equity-rich homes were in Florida (down from 54.4 percent in the first quarter of 2024 to 49.3 percent in the first quarter of 2025), Utah (down from 54 percent to 50.7), Arizona (down from 52.9 percent to 49.8 percent), Washington (down from 54.2 to 51.3 percent), and Colorado (down from 48.4 to 45.8 percent). Read more