Average Home Equity by State - How Does Your Equity Compare? (2026)
Home equity varies dramatically by state. The average American homeowner has $302,000 in equity, but Connecticut homeowners gained $31,500 last year while Florida homeowners lost $37,400. Click any column header to sort and see where your state stands.
Biggest Equity Gainers
Biggest Equity Declines
All 50 States + DC
| State↕ | Avg Equity↓ | YoY Change↕ | Equity-Rich %↕ | Avg Home Value↕ |
|---|---|---|---|---|
| California | $599,000 | $-32,500 | 52% | $793,000 |
| Hawaii | $563,000 | $-28,100 | 55% | $835,000 |
| Massachusetts | $432,000 | +$14,800 | 56% | $615,000 |
| Washington DC | $398,000 | $-35,500 | 44% | $648,000 |
| New Jersey | $348,000 | +$27,500 | 50% | $495,000 |
| Washington | $348,000 | $-14,200 | 51% | $578,000 |
| New York | $328,000 | +$13,600 | 47% | $478,000 |
| Connecticut | $318,000 | +$31,500 | 54% | $425,000 |
| Oregon | $312,000 | $-7,400 | 53% | $498,000 |
| New Hampshire | $298,000 | +$13,200 | 57% | $448,000 |
| Colorado | $289,000 | $-6,200 | 50% | $530,000 |
| Montana | $278,000 | $-2,800 | 60% | $468,000 |
| Rhode Island | $278,000 | +$16,200 | 52% | $418,000 |
| Utah | $278,000 | $-11,200 | 52% | $498,000 |
| Florida | $268,000 | $-37,400 | 47% | $393,000 |
| Maryland | $268,000 | +$7,600 | 45% | $420,000 |
| Arizona | $248,000 | $-8,700 | 49% | $412,000 |
| Maine | $248,000 | +$12,400 | 58% | $378,000 |
| Vermont | $248,000 | +$12,800 | 61% | $368,000 |
| Virginia | $248,000 | +$4,800 | 46% | $412,000 |
| Idaho | $246,000 | $-4,300 | 56% | $430,000 |
| Nevada | $218,000 | $-9,800 | 43% | $408,000 |
| Delaware | $198,000 | +$5,800 | 43% | $345,000 |
| Minnesota | $198,000 | +$6,900 | 48% | $340,000 |
| North Carolina | $198,000 | +$2,400 | 44% | $332,000 |
| Georgia | $192,000 | +$1,200 | 40% | $332,000 |
| Wyoming | $192,000 | $-1,200 | 53% | $338,000 |
| Pennsylvania | $188,000 | +$9,200 | 46% | $298,000 |
| Tennessee | $182,000 | +$800 | 43% | $312,000 |
| Alaska | $178,000 | $-5,400 | 44% | $348,000 |
| South Carolina | $178,000 | +$1,600 | 42% | $298,000 |
| Texas | $178,000 | $-18,900 | 39% | $298,000 |
| New Mexico | $172,000 | +$1,800 | 46% | $292,000 |
| Illinois | $168,000 | +$8,700 | 39% | $270,000 |
| Wisconsin | $168,000 | +$7,400 | 47% | $278,000 |
| Alabama | $152,000 | +$3,200 | 42% | $232,000 |
| Michigan | $152,000 | +$7,800 | 44% | $238,000 |
| Missouri | $148,000 | +$5,600 | 43% | $238,000 |
| South Dakota | $148,000 | +$4,200 | 49% | $268,000 |
| Nebraska | $142,000 | +$5,200 | 46% | $234,000 |
| Ohio | $142,000 | +$7,200 | 43% | $218,000 |
| Indiana | $138,000 | +$6,200 | 43% | $228,000 |
| Kansas | $136,000 | +$4,800 | 44% | $218,000 |
| Kentucky | $134,000 | +$5,100 | 42% | $210,000 |
| Iowa | $132,000 | +$5,400 | 45% | $206,000 |
| Arkansas | $128,000 | +$4,100 | 41% | $198,000 |
| North Dakota | $118,000 | +$3,600 | 47% | $238,000 |
| Oklahoma | $118,000 | +$3,800 | 42% | $198,000 |
| Louisiana | $112,000 | $-2,100 | 36% | $198,000 |
| Mississippi | $98,000 | +$2,800 | 38% | $172,000 |
| West Virginia | $92,000 | +$4,600 | 44% | $148,000 |
Source: CoreLogic Homeowner Equity Insights and ATTOM Data Solutions, Q3 2025. Year-over-year changes reflect Q3 2024 to Q3 2025. Figures are approximate and may differ from other sources due to methodology differences. Last verified April 2026.
Why Equity Varies by State
Home prices and affordability
States with higher home prices naturally have higher dollar equity amounts, but that does not mean homeowners are better off. A $600,000 equity in California may represent the same percentage as $200,000 in Ohio.
Local appreciation rates
Markets with strong job growth, limited housing supply, and population influx tend to appreciate faster. The Northeast has been strong recently due to supply constraints, while some Sun Belt markets are correcting after rapid 2020-2022 gains.
Building permits and housing supply
States that make it easy to build new housing (Texas, Florida) tend to have slower price appreciation because supply keeps up with demand. Restrictive states (California, Massachusetts) see sharper price increases.
Climate risk and insurance costs
Rising insurance costs in Florida, Louisiana, and coastal markets are beginning to affect home values. Properties in high-risk areas face higher carrying costs, which can slow appreciation or cause declines.
What This Means for You
If you are in a state with declining equity: Be cautious about borrowing against your home. Your equity cushion may be thinner than you think. Get a current appraisal before making decisions, and avoid borrowing close to your CLTV limit.
If you are in a state with growing equity: You may have more borrowing room than you realize. A new appraisal could reveal equity gains that improve your LTV and qualify you for better rates. This is also a good time to consider PMI removal if applicable.
Regardless of location: Online home value estimators (Zillow, Redfin) provide ballpark figures but can be off by 5-15%. For any borrowing decision, get a professional appraisal. Your individual property and neighbourhood matter more than the state average.
Frequently Asked Questions
Which state has the most home equity?
California homeowners have the highest average equity at approximately $599,000, driven by high home values. Hawaii ($563,000) and Massachusetts ($432,000) also rank near the top. However, equity-rich percentage is a better measure of financial health. Montana, Vermont, and Idaho have high percentages of equity-rich homeowners despite lower total dollar amounts.
Where is home equity growing fastest?
As of late 2025, Northeast states are seeing the strongest equity growth. Connecticut gained approximately $31,500 per homeowner year-over-year, followed by New Jersey (+$27,500) and Rhode Island (+$16,200). These gains reflect strong demand and limited housing supply in the Northeast corridor.
Where is home equity declining?
Florida (-$37,400), Washington DC (-$35,500), and California (-$32,500) saw the largest year-over-year equity declines as of late 2025. These reflect market corrections after the rapid price appreciation of 2020-2022, particularly in Sun Belt and high-cost coastal markets.
What percentage of homes are equity-rich?
Nationally, about 46% of mortgaged homes are equity-rich, meaning they have an LTV below 50%. This means the homeowner owns more than half their home outright. The percentage varies widely by state, from over 60% in some Northeast and Mountain West states to under 35% in states with high mortgage balances.
Does my state affect my borrowing options?
Indirectly, yes. If you live in a state with declining equity, lenders may be more conservative with appraisals and lending limits. In appreciating markets, a new appraisal might give you more borrowing room than expected. Your individual property matters more than the state average, but trends provide context.
How reliable are Zillow and Redfin estimates?
Online estimators are reasonable ballpark figures but can be off by 5-15% or more. They work best for homes in dense suburban areas with lots of comparable sales. They are less reliable for unique properties, rural areas, or homes with non-standard features. For borrowing decisions, always get a professional appraisal.