In which states do homeowners have the most home equity?
The state where homeowners have the most home equity is Hawaii.
Home equity, or the amount of your home you own, can be a major financial resource for many homeowners. Homeowners can access their home equity to help fund any expense that may come up.
One popular way homeowners could access the equity in their homes is through a HELOC. HELOCs are available whether you live in a state with rapidly increasing home equity or not.
Start accessing your home equity today by completing a HELOC application today.
What does it mean to have equity in a home?
Home equity refers to the amount of your home you own outright, or the difference between your home’s current value and the amount remaining on your mortgage.
You can figure out your home equity by subtracting your remaining mortgage balance from the current value of your home. The number you get is the amount of equity you own.
If you are looking for it as percentage, you will have to do a little more math.
For the percentage of equity you have, take the number you got from subtracting and divide it with your home’s current value, then multiple that number by 100.
In which states do homeowners have the most home equity?
These states are where homeowners have the largest amount in home equity and what the median home price is in that state.
Hawaii
- Median home equity in Hawaii: $600,000
- Average home price in Hawaii: $683,333
Use a HELOC in Hawaii to access your home equity.
California
- Median home equity in California: $550,000
- Average home price in California: $706,333
Tap into your home equity with a HELOC in California.
Massachusetts
- Median home equity in Massachusetts: $400,000
- Average home price in Massachusetts: $595,709
HELOCs in Massachusetts allow homeowners to access their home equity.
Washington
- Median home equity in Washington: $392,000
- Average home price in Washington: $543,333
Access your home equity through a HELOC in Washington.
Colorado
- Median home equity in Colorado: $350,000
- Average home price in Colorado: $525,667
Use a HELOC in Colorado to tap into your home equity.
Which states have seen homeowners’ equity increase the most?
These are the states that have seen homeowners’ equity increase the most from 2020 to 2025, the last full year for which data is available.
West Virginia
Homeowners in West Virginia have seen the greatest increase in home equity in their properties. West Virginians’ home equity has increased 450% in the five reported years.
Oklahoma
Home equity increases in Oklahoma are trailing close behind West Virginia. In the same five years, homeowners in Oklahoma have seen a 431% increase in home equity.
Connecticut
Connecticut homeowners have seen a 297% increase in home equity. While not as high as the other two, it is the state with the third greatest increase in home equity.
Kansas
The Midwest is one of the areas across the U.S. that has given homeowners the greatest increase in home equity. In Kansas, homeowners have seen a 234% increase in their home equity.
Illinois
Illinois is another example of home equity increasing in the Midwest. Over the five reported years, home equity in Illinois has increased 217%.
Which states have had the smallest increase in home equity?
Not all states have seen major increases in home equity over the same period. Alaska (17%), North Dakota (19%) and Colorado (48%) are the states where home equity has had the smallest equity increases.
How can I tap into my home equity?
There are several options that allow you to tap into your home equity. One of the popular ways homeowners access the equity in their homes is through a home equity line of credit, or HELOC.
HELOCs offer homeowners a line of credit based on home equity that they can draw on as they need, similar to a credit card. While you are accessing the funds based on your home equity, you are only required to pay interest on the amount you borrow.
After a few years, you will not have access to your HELOC funds and will have to start paying your HELOC loan amount along with your interest.
Are you ready to start accessing your home equity? Begin a HELOC application today!
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Information provided is for educational purposes only. It should not be construed as financial or legal advice or instruction. Rate does not guarantee or assume liability for the accuracy, completeness or timelines of the information. You should conduct additional research before making any mortgage related decisions.
