Share of Equity-Rich Homes Continues to Decline

At the end of 2025, the share of equity-rich homes fell to 44.6%. But in some states, that share is much higher

March 5, 2026

Stacks of coins in increasing order stand in front of a home, indicating equity — Home equity continues to decline nationwide, but in some states, equity remains high.

Home equity remains at record high levels across the U.S., but has softened over the last several quarters. In Q-4 2025, 44.6% of mortgaged residential properties were considered equity-rich, meaning homeowners owed no more than half of their property’s estimated market value, according to a report from property data provider ATTOM. Comparatively, the share of equity-rich homes in Q-3 2025 was 46.1%, and was 47.7% a year earlier.

The national share has slipped as home-price growth has moderated and borrowing costs remain elevated (which) can reduce the pace of equity accumulation, especially in markets that saw the steepest run-ups earlier in the decade.

Which states have the highest share of equity-rich homes?

The states with the highest share of equity-rich homes are primarily located in the Northeast, with the top three including Vermont, New Hampshire, and Rhode Island. In Vermont, 87% of homes are considered equity-rich, followed by New Hampshire at 60.2%, and then Rhode Island at 59.4%.

Which states have the lowest share of equity-rich homes?

Meanwhile, some states sit below the nationwide median. The states with the lowest share of equity-rich homes include Louisiana, with just 20.1% of homes considered equity-rich. Maryland follows behind with its share of equity-rich homes at 28.4%, and then Kentucky at 32.1%.